NTB (NYSE: NTB) Cayman Chief Risk Officer discloses common stock and RSU awards
Rhea-AI Filing Summary
Bank of N.T. Butterfield & Son Ltd Chief Risk Officer (Cayman), Andrew Ronald Burns, filed an initial ownership report showing existing equity and award holdings. He holds 18,566 common shares directly, plus restricted stock units representing 5,881 underlying shares and an additional 46,377 underlying shares.
The restricted stock units have an exercise price of $0.0000 and represent a contingent right to receive one common share upon vesting and settlement. According to the footnotes, these awards vest on 12-Feb-2027, 10-Feb-2028, and 9-Feb-2029, subject to continued service, and do not expire but are either settled or forfeited.
Positive
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Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Burns Andrew Ronald
Role
Chief Risk Officer, Cayman
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Bank of N.T. Butterfield & Son Ltd | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 52,258 shares (Direct);
Bank of N.T. Butterfield & Son Ltd — 18,566 shares (Direct)
Footnotes (4)
- F1. The restricted stock units vest 12-Feb-2027, 10-Feb-2028, 9-Feb-2029 subject to continued service through each vesting date.
- F2. These restricted stock units do not expire; they either vest and settle or are forfeited/cancelled prior to the applicable vesting date.
- F3. Each restricted stock unit represents a contingent right to receive one share of common stock upon vesting/settlement.
- F4. The PSUs will vest on the third anniversary of the Grant Date 12-Feb-2027, 10-Feb-2028, 9-Feb-2029
Key Figures
Direct common shares: 18,566 shares
RSUs underlying shares (grant 1): 5,881 shares
RSUs underlying shares (grant 2): 46,377 shares
+2 more
5 metrics
Direct common shares
18,566 shares
Total common stock directly owned following the reported holdings
RSUs underlying shares (grant 1)
5,881 shares
Underlying Bank of N.T. Butterfield & Son Ltd shares for one RSU award
RSUs underlying shares (grant 2)
46,377 shares
Underlying Bank of N.T. Butterfield & Son Ltd shares for another RSU award
RSU exercise price
$0.0000 per unit
Exercise or conversion price for the restricted stock units
Vesting dates
12-Feb-2027, 10-Feb-2028, 9-Feb-2029
RSUs and PSUs vesting schedule subject to continued service
Key Terms
Restricted Stock Units, PSUs, contingent right, vesting date
4 terms
Restricted Stock Units financial
"The restricted stock units vest 12-Feb-2027, 10-Feb-2028, 9-Feb-2029 subject to continued service"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
PSUs financial
"The PSUs will vest on the third anniversary of the Grant Date 12-Feb-2027, 10-Feb-2028, 9-Feb-2029"
PSUs are company shares promised to employees or executives that only become actual stock if the business hits specific performance targets over a set period. For investors, PSUs matter because they link pay to measurable outcomes — similar to a conditional bonus that converts into ownership — which can influence management decisions, dilution of shares, and signals about confidence in future results.
contingent right financial
"Each restricted stock unit represents a contingent right to receive one share of common stock upon vesting/settlement"
vesting date financial
"subject to continued service through each vesting date"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What does the NTB Form 3 filing show about Andrew Ronald Burns’ holdings?
The Form 3 shows Andrew Ronald Burns’ existing ownership in Bank of N.T. Butterfield & Son Ltd, including 18,566 common shares and restricted stock units tied to 5,881 and 46,377 underlying shares, all held directly as of the reported date.
What restricted stock unit awards are reported for NTB’s Chief Risk Officer?
The filing reports two blocks of restricted stock units for the Chief Risk Officer, linked to 5,881 and 46,377 underlying Bank of N.T. Butterfield & Son Ltd shares. Each unit represents a contingent right to receive one common share upon vesting and settlement, at a $0.0000 exercise price.
When do Andrew Ronald Burns’ NTB restricted stock units vest?
The restricted stock units vest on 12-Feb-2027, 10-Feb-2028, and 9-Feb-2029, subject to continued service through each vesting date. Some awards are described as PSUs that will vest on the third anniversary of the respective grant dates, matching those same vesting years.
Do the NTB restricted stock units held by Andrew Ronald Burns expire?
The filing states that these restricted stock units do not expire. Instead, they either vest and settle into common shares or are forfeited or cancelled before the applicable vesting date, depending on whether vesting conditions such as continued service are met.
What does each NTB restricted stock unit represent for Andrew Ronald Burns?
Each restricted stock unit represents a contingent right to receive one share of Bank of N.T. Butterfield & Son Ltd common stock upon vesting and settlement. This means the awards can convert into an equal number of common shares if the vesting conditions are satisfied.