NTB (NYSE: NTB) executive Jane Pearce reports RSU awards and shareholdings in Form 3
Rhea-AI Filing Summary
Bank of N.T. Butterfield & Son Ltd filed an initial insider ownership report for Jane Pearce, Managing Director, Trust. The filing shows she directly holds 16,367 common shares and two blocks of restricted stock units that can convert into 5,595 and 38,556 shares, respectively.
The restricted stock units have an exercise price of 0.0000 and vest over three years in one-third annual installments on each anniversary of the listed grant dates, subject to continued service. Each unit represents a contingent right to receive one common share upon vesting and will either vest and settle or be forfeited or cancelled. The filing also notes performance stock units scheduled to vest on the third anniversary of the same grant dates.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Pearce Jane
Role
Managing Director, Trust
| 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 — 44,151 shares (Direct);
Bank of N.T. Butterfield & Son Ltd — 16,367 shares (Direct)
Footnotes (4)
- F1. The restricted stock units vest over three years in one-third annual installments on each anniversary of the Grant Date 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: 16,367 shares
RSU underlying shares (grant 1): 5,595 shares
RSU underlying shares (grant 2): 38,556 shares
+2 more
5 metrics
Common shares held
16,367 shares
Total common shares directly held following the Form 3
RSU underlying shares (grant 1)
5,595 shares
Underlying common shares for one RSU award at $0.0000 exercise price
RSU underlying shares (grant 2)
38,556 shares
Underlying common shares for second RSU award at $0.0000 exercise price
RSU exercise price
$0.0000 per share
Exercise price for the restricted stock units reported
RSU vesting schedule
Three-year, one-third annual installments
Vesting over three years from grant dates, subject to continued service
Key Terms
Restricted Stock Units, contingent right, performance stock units, vesting date
4 terms
Restricted Stock Units financial
"The restricted stock units vest over three years in one-third annual installments"
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"
performance stock units financial
"The PSUs will vest on the third anniversary of the Grant Date"
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.
vesting date financial
"subject to continued service through each vesting date"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What does Bank of N.T. Butterfield & Son Ltd (NTB) Form 3 for Jane Pearce show?
The Form 3 reports initial holdings for Jane Pearce as a Managing Director. It lists 16,367 common shares plus restricted stock units tied to 5,595 and 38,556 underlying shares, outlining how her equity-based compensation is structured.
How many restricted stock units does Jane Pearce report in NTB’s Form 3?
The filing lists two restricted stock unit positions tied to 5,595 and 38,556 underlying common shares. Each restricted stock unit represents a contingent right to receive one common share if vesting conditions are satisfied over time.
How do Jane Pearce’s restricted stock units in NTB vest and settle?
The restricted stock units vest over three years in one-third annual installments on each anniversary of the grant dates. Vesting is subject to continued service, and vested units settle into common shares or are forfeited or cancelled if conditions are not met.
What does the Form 3 say about performance stock units (PSUs) for Jane Pearce at NTB?
The footnotes state that PSUs will vest on the third anniversary of the grant dates listed. These units depend on vesting conditions over a multi-year period, adding a performance-based component to her overall equity compensation package.
What is the exercise price of Jane Pearce’s restricted stock units at Bank of N.T. Butterfield & Son Ltd?
The restricted stock units have an exercise price of 0.0000 per share. This means that, upon vesting, each unit can settle into one share of common stock without additional cash payment, subject to the vesting and service conditions described.