Butterfield (NTB) director granted 49 restricted stock units in Form 4
Rhea-AI Filing Summary
CUMMINGS STEPHEN E reported acquisition or exercise transactions in this Form 4 filing.
Bank of N.T. Butterfield & Son Ltd director Stephen E. Cummings received a grant of 49 restricted stock units (RSUs) linked to ordinary shares. Each RSU is a contingent right to one share and vests starting 30 days after the grant date over two years, subject to continued service. These RSUs do not expire; they either vest and settle or are forfeited or cancelled. Following this award, Cummings holds 5,531 derivative units related to the stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
CUMMINGS STEPHEN E
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units - EDIP | 49 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Units - EDIP — 5,531 shares (Direct)
Footnotes (3)
- F1. Each restricted stock unit represents a contingent right to receive one share of Common Stock upon vesting/settlement.
- F2. The restricted stock units vest 30 days after the grant date over two years, subject to continued service through each vesting period.
- F3. These restricted stock units do not expire; they either vest and settle or are forfeited/cancelled prior to the applicable vesting date.
Key Figures
RSU grant size: 49 restricted stock units
Post-transaction derivative holdings: 5,531 units
Vesting start period: 30 days
+1 more
4 metrics
RSU grant size
49 restricted stock units
Grant of derivative awards on Ordinary shares
Post-transaction derivative holdings
5,531 units
Total derivative units following RSU grant
Vesting start period
30 days
Vesting begins 30 days after grant date
Vesting duration
2 years
RSUs vest over two years, subject to service
Key Terms
Restricted Stock Units, contingent right, vest, forfeited/cancelled
4 terms
Restricted Stock Units financial
"Each restricted stock unit represents a contingent right to receive one share"
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
"represents a contingent right to receive one share of Common Stock"
vest financial
"The restricted stock units vest 30 days after the grant date over two years"
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"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did NTB director Stephen E. Cummings report on this Form 4?
Stephen E. Cummings reported receiving 49 restricted stock units (RSUs) in Bank of N.T. Butterfield & Son Ltd. Each RSU represents a contingent right to receive one ordinary share, reflecting equity-based compensation rather than a market purchase or sale of existing shares.
How do the new NTB restricted stock units for Stephen E. Cummings vest?
The 49 restricted stock units granted to Stephen E. Cummings vest starting 30 days after the grant date over a two-year period. Vesting is conditioned on continued service through each vesting period, meaning units that do not meet this requirement can be forfeited.
What does each NTB restricted stock unit represent for Stephen E. Cummings?
Each restricted stock unit granted to Stephen E. Cummings represents a contingent right to receive one ordinary share of Bank of N.T. Butterfield & Son Ltd. The units convert into shares only upon vesting and settlement; otherwise, they may be cancelled or forfeited if conditions are not met.
Do the NTB restricted stock units granted to Stephen E. Cummings have an expiration date?
The restricted stock units granted to Stephen E. Cummings do not have a traditional expiration date. According to the disclosure, they either vest and settle into ordinary shares upon meeting conditions or are forfeited or cancelled before the relevant vesting date if requirements are not satisfied.