NTB (NTB) COO Michael Neff reports 48,718 shares plus RSU awards
Rhea-AI Filing Summary
Bank of N.T. Butterfield & Son Ltd Chief Operating Officer Michael Walter Neff filed an initial ownership report showing his equity interests in the company. He directly holds 48,718 common shares and two blocks of restricted stock units covering 5,730 and 45,636 underlying shares.
The restricted stock units vest on February 12, 2027, February 10, 2028, and February 9, 2029, subject to continued service through each vesting date. Each unit represents a contingent right to receive one common share and does not expire but will either vest and settle or be forfeited or cancelled if conditions are not met.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Neff Michael Walter
Role
Chief Operating 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 — 51,366 shares (Direct);
Bank of N.T. Butterfield & Son Ltd — 48,718 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: 48,718 shares
RSU block 1 underlying shares: 5,730 shares
RSU block 2 underlying shares: 45,636 shares
+1 more
4 metrics
Common shares held
48,718 shares
Direct common stock position reported on Form 3
RSU block 1 underlying shares
5,730 shares
Restricted Stock Units with 0.0000 exercise price, direct ownership
RSU block 2 underlying shares
45,636 shares
Restricted Stock Units with 0.0000 exercise price, direct ownership
Vesting dates
Feb 12 2027, Feb 10 2028, Feb 9 2029
Service-based vesting for RSUs and PSUs
Key Terms
Restricted Stock Units, vest, forfeited/cancelled, Performance Stock Units (PSUs), +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
"These restricted stock units do not expire; they either vest and settle or are forfeited/cancelled"
Performance Stock Units (PSUs) 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 (PSUs) are a form of executive or employee pay that promise company shares only if pre-set performance goals are met over a defined period; think of them as a bonus paid in stock that arrives only when the company hits agreed targets. Investors watch PSUs because they affect the number of shares outstanding (dilution) and reveal how management’s pay is tied to financial or operational results, aligning incentives with shareholder outcomes.
contingent right financial
"Each restricted stock unit represents a contingent right to receive one share of common stock"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What does the Form 3 for Bank of N.T. Butterfield & Son Ltd (NTB) show for Michael Walter Neff?
The Form 3 shows Chief Operating Officer Michael Walter Neff’s initial equity holdings, including 48,718 common shares and multiple restricted stock unit awards. It provides a baseline view of his ownership position as an executive in Bank of N.T. Butterfield & Son Ltd.
What restricted stock unit (RSU) positions are disclosed for NTB’s COO Michael Walter Neff?
The filing lists two RSU positions with underlying shares of 5,730 and 45,636. Each restricted stock unit represents a contingent right to receive one share of common stock upon vesting or settlement, subject to the specified service-based vesting conditions being fully satisfied.
When do Michael Walter Neff’s restricted stock units and PSUs in Bank of N.T. Butterfield & Son Ltd vest?
The restricted stock units and related performance stock units are scheduled to vest on February 12, 2027, February 10, 2028, and February 9, 2029. Vesting is conditioned on Mr. Neff’s continued service with Bank of N.T. Butterfield & Son Ltd through each respective vesting date.
Do the restricted stock units reported for NTB’s COO ever expire or lapse automatically?
According to the disclosure, the restricted stock units do not have a traditional expiration date. They either vest and settle into common shares on the stated vesting dates or are forfeited or cancelled beforehand if vesting conditions, including continued service, are not satisfied by Michael Walter Neff.
What does each restricted stock unit represent for Bank of N.T. Butterfield & Son Ltd (NTB)?
Each restricted stock unit represents a contingent right to receive one share of Bank of N.T. Butterfield & Son Ltd common stock. Actual delivery of shares occurs upon vesting or settlement, assuming Mr. Neff meets the continued service and any related vesting conditions associated with the specific award.