Butterfield (NYSE: NTB) CEO details RSU grants and share ownership
Rhea-AI Filing Summary
Bank of N.T. Butterfield & Son Ltd’s Chief Executive Officer Michael W. Collins filed an initial insider report showing his existing equity position. He holds 121,243 common shares directly, plus several blocks of restricted stock units (RSUs) that each represent the right to receive one share upon vesting.
The RSU positions cover 171,186, 289,561, and 273,028 underlying shares, all at a conversion price of zero. Footnotes state that these RSUs either vest and settle or are forfeited, with vesting dates spanning August 9, 2026, February 12, 2027, February 10, 2028, February 9, 2029, and February 9, 2033, subject to continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Collins Michael W
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Bank of N.T. Butterfield & Son Ltd | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 733,775 shares (Direct);
Bank of N.T. Butterfield & Son Ltd — 121,243 shares (Direct)
Footnotes (5)
- F1. These restricted stock units do not expire; they either vest and settle or are forfeited/cancelled prior to the applicable vesting date.
- F2. Each restricted stock unit represents a contingent right to receive one share of common stock upon vesting/settlement.
- F3. The restricted stock units vest 9-Feb-2033 subject to continued service through each vesting date.
- F4. The PSUs will vest on the third anniversary of the Grant Date 12-Feb-2027, 10-Feb-2028, 9-Feb-2029
- F5. The restricted stock units vest 9-Aug-2026,12-Feb-2027,10-Feb-2028
Key Figures
Direct common shares: 121,243 shares
RSU block 1 underlying shares: 171,186 shares
RSU block 2 underlying shares: 289,561 shares
+3 more
6 metrics
Direct common shares
121,243 shares
Direct ownership reported by CEO on Form 3
RSU block 1 underlying shares
171,186 shares
Restricted Stock Units, exercise price $0.0000
RSU block 2 underlying shares
289,561 shares
Restricted Stock Units, exercise price $0.0000
RSU block 3 underlying shares
273,028 shares
Restricted Stock Units, exercise price $0.0000
Nearest RSU vesting date
August 9, 2026
One of several RSU vesting dates
Latest RSU vesting date
February 9, 2033
RSUs vest subject to continued service
Key Terms
Restricted Stock Units, contingent right, PSUs, vesting date, +1 more
5 terms
Restricted Stock Units financial
"These restricted stock units do not expire; they either vest and settle"
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.
contingent right financial
"Each restricted stock unit represents a contingent right to receive one share"
PSUs financial
"The PSUs will vest on the third anniversary of the Grant Date"
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.
vesting date financial
"forfeited/cancelled prior to the applicable vesting date"
Grant Date financial
"The PSUs will vest on the third anniversary of the Grant Date"
The grant date is the day a company formally gives an employee or contractor the right to receive stock-based compensation, such as stock options or restricted shares. It matters to investors because it fixes key terms—like the price, the start of the ownership clock, and when the award will affect the company’s financial statements and share count—so it can influence dilution, reported expenses, and potential future selling pressure.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What does Bank of N.T. Butterfield & Son (NTB) CEO Michael Collins report on this Form 3?
Michael W. Collins reports his existing equity holdings, including direct common shares and multiple restricted stock unit grants. The filing details how many shares each RSU block covers and confirms they convert into common stock only upon vesting and settlement.
What restricted stock unit (RSU) amounts are disclosed for NTB’s CEO?
The filing lists RSU positions tied to 171,186, 289,561, and 273,028 underlying shares. Each RSU represents a contingent right to receive one common share upon vesting, giving the CEO substantial additional potential equity beyond his directly held shares.
When do Michael Collins’ NTB restricted stock units vest?
Footnotes state that RSUs vest on several dates: August 9, 2026, February 12, 2027, February 10, 2028, February 9, 2029, and February 9, 2033. Vesting is conditioned on his continued service through each applicable vesting date.
What are PSUs in the Bank of N.T. Butterfield & Son (NTB) CEO’s filing?
PSUs are performance stock units that vest based on performance and time conditions. The filing notes PSUs will vest on the third anniversary of grant dates February 12, 2027, February 10, 2028, and February 9, 2029, adding another performance-linked equity component.
Do the Bank of N.T. Butterfield & Son (NTB) RSUs expire?
The footnotes specify these restricted stock units do not expire in the traditional sense. Instead, they either vest and settle into common shares or are forfeited or cancelled before the applicable vesting date, depending on continued service and any plan conditions.