Richard Saunders (NTB) details RSU awards and share holdings in Form 3
Rhea-AI Filing Summary
Bank of N.T. Butterfield & Son Ltd executive Richard Saunders, Managing Director UKCI, has filed an initial ownership report showing his equity interests in the company. The filing lists 18117 common shares held directly and restricted stock units tied to 5904 and 37125 underlying shares.
These restricted stock units carry a zero exercise price and each unit represents a contingent right to receive one common share upon vesting and settlement. According to the footnotes, the units vest on 12-Feb-2027, 10-Feb-2028 and 9-Feb-2029, subject to continued service, and will either vest and settle or be forfeited before those dates.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Saunders Richard
Role
Managing Director, UKCI
| 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 — 43,029 shares (Direct);
Bank of N.T. Butterfield & Son Ltd — 18,117 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
Common shares held: 18117 shares
RSUs underlying shares (grant 1): 5904 shares
RSUs underlying shares (grant 2): 37125 shares
+4 more
7 metrics
Common shares held
18117 shares
Total common shares directly owned following the reported holdings
RSUs underlying shares (grant 1)
5904 shares
Underlying common shares for one restricted stock unit award
RSUs underlying shares (grant 2)
37125 shares
Underlying common shares for another restricted stock unit award
RSU exercise price
0.0000
Exercise price per restricted stock unit
First RSU vesting date
12-Feb-2027
Initial vesting date subject to continued service
Second RSU vesting date
10-Feb-2028
Subsequent vesting date subject to continued service
Third RSU vesting date
9-Feb-2029
Final vesting date subject to continued service
Key Terms
Restricted Stock Units, contingent right, vest and settle, performance stock units
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.
contingent right financial
"Each restricted stock unit represents a contingent right to receive one share of common stock"
vest and settle financial
"These restricted stock units do not expire; they either vest and settle or are forfeited"
performance stock units financial
"The PSUs will vest on the third anniversary of the Grant Date 12-Feb-2027,10-Feb-2028 9-Feb-2029"
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What does the NTB Form 3 filing by Richard Saunders show?
The Form 3 shows Richard Saunders’ existing equity interests in Bank of N.T. Butterfield & Son Ltd, including 18117 common shares and multiple restricted stock unit awards. It is an initial ownership report, not a new buy or sell transaction.
How many NTB restricted stock units does Richard Saunders report on Form 3?
Richard Saunders reports restricted stock units linked to 5904 and 37125 underlying Bank of N.T. Butterfield & Son Ltd shares. Each restricted stock unit represents a contingent right to receive one common share upon vesting and settlement, according to the filing footnotes.
When do Richard Saunders’ 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. If service conditions are not met, the units can be forfeited or cancelled before these scheduled vesting dates.
What is the exercise price of the NTB restricted stock units reported?
The restricted stock units reported by Richard Saunders have an exercise price of 0.0000, meaning no cash payment is required at vesting. Upon vesting and settlement, each unit is designed to deliver one share of Bank of N.T. Butterfield & Son Ltd common stock.
Do the NTB restricted stock units reported by Richard Saunders expire?
The filing states these restricted stock units do not expire in the traditional sense. They will either vest and settle into Bank of N.T. Butterfield & Son Ltd common shares or be forfeited or cancelled before the applicable vesting date, depending on service conditions.
Does the NTB Form 3 indicate any buy or sell transactions by Richard Saunders?
The Form 3 does not indicate any buy or sell transactions. It classifies the entries as holdings, with transaction codes and directions shown as unknown, focusing solely on the number of common shares and restricted stock units beneficially owned after the reported dates.