Butterfield executive awarded new RSU grants
Saunders Richard reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
Saunders Richard reported acquisition or exercise transactions in this Form 4 filing.
Bank of N.T. Butterfield & Son Ltd executive Richard Saunders received new share-based awards. As Managing Director, CIUK, he was granted 330 restricted stock units (RSUs) under the ELTIP and 52 RSUs under the EDIP, each representing one ordinary share upon vesting.
The ELTIP grant increases his holdings under that plan to 37,455 RSUs, while the EDIP grant brings his total there to 5,956 RSUs. The RSUs vest on 12-Feb-2027, 10-Feb-2028, and 9-Feb-2029, subject to continued service, and will either vest and settle in shares or be forfeited.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 382 shares
Grant/Award
2 txns
Insider
Saunders Richard
Role
Managing Director, CIUK
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units - EDIP | 52 | $0.00 | $0.00 |
| Grant/Award | Restricted Stock Units - ELTIP | 330 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Units - EDIP — 5,956 contracts (Direct);
Restricted Stock Units - ELTIP — 37,455 contracts (Direct)
Footnotes (4)
- 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 12-Feb-2027, 10-Feb-2028, 9-Feb-2029 subject to continued service through each vesting date.
- F3. These restricted stock units do not expire; they either vest and settle or are forfeited/cancelled prior to the applicable vesting date.
- F4. The PSUs will vest on the third anniversary of the Grant Date 12-Feb-2027, 10-Feb-2028, 9-Feb-2029
Key Figures
ELTIP RSU grant: 330 units
EDIP RSU grant: 52 units
ELTIP RSUs after grant: 37,455 units
+3 more
6 metrics
ELTIP RSU grant
330 units
Restricted Stock Units - ELTIP granted 27-May-2026
EDIP RSU grant
52 units
Restricted Stock Units - EDIP granted 27-May-2026
ELTIP RSUs after grant
37,455 units
Total ELTIP RSUs following transaction
EDIP RSUs after grant
5,956 units
Total EDIP RSUs following transaction
Vesting dates
12-Feb-2027, 10-Feb-2028, 9-Feb-2029
RSU vesting schedule subject to continued service
Exercise price
$0.0000 per unit
RSUs granted with no exercise price
Key Terms
Restricted stock units, ELTIP, EDIP, contingent right, +1 more
5 terms
Restricted stock units financial
"Each restricted stock unit represents a contingent right to receive one share of common stock upon vesting/settlement."
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.
ELTIP financial
"Restricted Stock Units - ELTIP were granted, increasing holdings to 37,455 RSUs after the transaction."
EDIP financial
"Restricted Stock Units - EDIP were granted, bringing total EDIP RSUs to 5,956 following the transaction."
contingent right financial
"Each restricted stock unit represents a contingent right to receive one share of common stock upon vesting/settlement."
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Richard Saunders report in this Bank of N.T. Butterfield (NTB) Form 4?
Richard Saunders reported grants of restricted stock units as compensation. He received 330 RSUs under the ELTIP and 52 RSUs under the EDIP, each convertible into one ordinary share upon vesting, increasing his RSU-based equity exposure to the company.
How many RSUs does Richard Saunders hold in NTB after these grants?
After these grants, Saunders holds 37,455 restricted stock units under the ELTIP and 5,956 restricted stock units under the EDIP. These represent future rights to receive ordinary shares if vesting conditions tied to continued service are satisfied over the stated schedule.
When do Richard Saunders’ new NTB restricted stock units vest?
The restricted stock units vest on 12-Feb-2027, 10-Feb-2028, and 9-Feb-2029. Vesting is subject to Saunders’ continued service with the company through each applicable vesting date, after which vested units settle in ordinary shares or are otherwise forfeited.
What does each NTB restricted stock unit granted to Richard Saunders represent?
Each restricted stock unit represents a contingent right to receive one ordinary share. The units do not have an exercise price; upon vesting and settlement, they convert into shares, provided all service-based vesting conditions are met and the awards have not been forfeited.
Do Richard Saunders’ NTB restricted stock units have an expiration date?
The restricted stock units do not have a traditional expiration date. According to the disclosure, they will either vest and settle in ordinary shares on scheduled vesting dates or be forfeited or canceled if vesting conditions, including continued service, are not satisfied.
Are the NTB RSU grants to Richard Saunders open-market purchases or sales?
The RSU grants are compensation awards, not open-market trades. They are reported with transaction code A, indicating grant or award acquisitions, with no cash exercise price and settlement in ordinary shares only if vesting requirements are fulfilled over time.
AI-generated analysis. How Rhea-AI works. Not financial advice.
