[Form 3] Bank of N.T. Butterfield & Son Ltd Initial Statement of Beneficial Ownership
Rhea-AI Filing Summary
Bank of N.T. Butterfield & Son Ltd executive Tara Hidalgo, the Chief Risk Officer, has reported her initial ownership position. She directly holds 18,586 shares of common stock and restricted stock units that are contingently tied to 5,724 and 42,704 underlying common shares.
The restricted stock units carry an exercise price of $0.0000 and either vest and settle into common shares or are forfeited or cancelled before vesting. Footnotes state that RSUs vest on 12-Feb-2027, 10-Feb-2028, and 9-Feb-2029, with each unit representing a right to receive one common share upon vesting.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Hidalgo Tara
Role
Chief Risk Officer
| 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 — 48,428 shares (Direct);
Bank of N.T. Butterfield & Son Ltd — 18,586 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: 18,586 shares
RSU underlying shares (grant 1): 5,724 shares
RSU underlying shares (grant 2): 42,704 shares
+4 more
7 metrics
Direct common shares
18,586 shares
Directly held Bank of N.T. Butterfield & Son Ltd common stock
RSU underlying shares (grant 1)
5,724 shares
Underlying common shares for one block of restricted stock units
RSU underlying shares (grant 2)
42,704 shares
Underlying common shares for second block of restricted stock units
RSU exercise price
$0.0000 per unit
Exercise price for the reported restricted stock units
RSU vesting date 1
12-Feb-2027
First disclosed RSU vesting date subject to continued service
RSU vesting date 2
10-Feb-2028
Second disclosed RSU vesting date subject to continued service
RSU vesting date 3
9-Feb-2029
Third disclosed RSU vesting date subject to continued service
Key Terms
Restricted Stock Units, vest, forfeited/cancelled, contingent right, +1 more
5 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.
vest financial
"The restricted stock units vest 12-Feb-2027, 10-Feb-2028, 9-Feb-2029 subject to continued service"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
forfeited/cancelled financial
"they either vest and settle or are forfeited/cancelled prior to the applicable vesting date"
contingent right financial
"Each restricted stock unit represents a contingent right to receive one share of common stock"
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider position did Tara Hidalgo report in Bank of N.T. Butterfield & Son Ltd (NTB)?
Tara Hidalgo, Chief Risk Officer of NTB, reported direct ownership of common stock and restricted stock units. She holds 18,586 common shares plus RSUs linked to 5,724 and 42,704 underlying common shares, establishing her disclosed equity stake in the bank.
What NTB restricted stock unit (RSU) holdings did Tara Hidalgo disclose?
She disclosed two blocks of restricted stock units tied to NTB common stock. These RSUs are linked to 5,724 and 42,704 underlying common shares, respectively, and each unit represents a contingent right to receive one common share upon vesting and settlement.
When do Tara Hidalgo’s NTB restricted stock units vest?
Footnotes state that the restricted stock units vest on 12-Feb-2027, 10-Feb-2028, and 9-Feb-2029. Vesting is subject to her continued service through each vesting date, after which vested units settle into common shares or are otherwise forfeited or cancelled.
Do the NTB restricted stock units reported by Tara Hidalgo expire?
The filing notes that these restricted stock units do not have a traditional expiration date. Instead, they will either vest and settle into Bank of N.T. Butterfield & Son Ltd common shares or be forfeited or cancelled if vesting conditions are not satisfied before the applicable vesting dates.
What does each NTB restricted stock unit reported by Tara Hidalgo represent?
Each restricted stock unit represents a contingent right to receive one share of Bank of N.T. Butterfield & Son Ltd common stock. Delivery of the share occurs upon vesting and settlement, provided all service-based vesting conditions disclosed in the filing’s footnotes are satisfied.