NTB executive reports initial share and RSU holdings
Accepted by SEC EDGAR
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Form Type
3
Rhea-AI Filing Summary
Bank of N.T. Butterfield & Son Ltd executive Lee Michael Sean filed an initial ownership report showing direct holdings in both common stock and restricted stock units. He reports 17,007 common shares and two RSU awards covering 5,568 and 5,346 underlying shares, which vest between February 2027 and February 2029, subject to continued service. Each RSU represents a contingent right to receive one common share upon vesting; units may vest and settle or be forfeited or cancelled before the vesting dates.
Insider Trade Summary
Holdings reported, no transactions
Holdings
Insider
Lee Michael Sean
Role
Head of Human Resources
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Holding | Restricted Stock Units | -- | -- | -- |
| Holding | Restricted Stock Units | -- | -- | -- |
| Holding | Bank of N.T. Butterfield & Son Ltd | -- | -- | -- |
Holdings:
Restricted Stock Units — 10,914 contracts (Direct);
Bank of N.T. Butterfield & Son Ltd — 17,007 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 10-Feb-2028,9-Feb-2029
Key Figures
Common shares held: 17,007 shares
RSU underlying shares (grant 1): 5,568 shares
RSU underlying shares (grant 2): 5,346 shares
+1 more
4 metrics
Common shares held
17,007 shares
Direct common stock holdings reported on Form 3
RSU underlying shares (grant 1)
5,568 shares
Restricted stock units with 0.0000 exercise price
RSU underlying shares (grant 2)
5,346 shares
Restricted stock units with 0.0000 exercise price
RSU vesting dates
12-Feb-2027; 10-Feb-2028; 9-Feb-2029
Vesting 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 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"
Performance Stock Units financial
"The PSUs will vest on the third anniversary of the Grant Date 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.
vesting date financial
"subject to continued service through each vesting date"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does the NTB Form 3 filing by Lee Michael Sean show?
The Form 3 shows initial ownership for executive Lee Michael Sean at Bank of N.T. Butterfield & Son Ltd, including 17,007 common shares and multiple restricted stock unit awards that provide potential future common shares upon vesting.
What restricted stock units are disclosed in the NTB Form 3?
The filing discloses two blocks of restricted stock units, each with an exercise price of 0.0000, tied to 5,568 and 5,346 underlying common shares. These units provide potential future share delivery if vesting conditions are satisfied.
When do Lee Michael Sean’s NTB restricted stock units vest?
The restricted stock units are scheduled to vest on 12-Feb-2027, 10-Feb-2028, and 9-Feb-2029, subject to continued service through each vesting date. If conditions are not met, units may be forfeited or cancelled instead of vesting.
What are the terms of the NTB performance stock units (PSUs) mentioned?
The footnotes state that PSUs will vest on the third anniversary of their grant dates, on 10-Feb-2028 and 9-Feb-2029. These units are also contingent, requiring satisfaction of vesting conditions before any common shares are delivered.
Does the NTB Form 3 show any insider buying or selling activity?
The Form 3 lists holding entries only, with transaction codes described as unknown and no buy or sell counts. It functions as an initial ownership snapshot, rather than reporting new open-market purchases or sales of Bank of N.T. Butterfield & Son Ltd shares.
AI-generated analysis. How Rhea-AI works. Not financial advice.
