NTB (NTB) HR head receives new RSU grants as equity compensation
Rhea-AI Filing Summary
Lee Michael Sean reported acquisition or exercise transactions in this Form 4 filing.
Bank of N.T. Butterfield & Son Ltd executive Lee Michael Sean, Head of Human Resources, reported compensation-related equity awards. He received 47 restricted stock units (RSUs) under the ELTIP and 49 RSUs under the EDIP, each representing a right to one ordinary share upon vesting.
The RSUs carry a grant price of $0.00 and are contingent on continued service, with vesting dates extending through February 2029. Following these awards, his reported direct RSU holdings in these plans total 5,393 units under ELTIP and 5,617 units under EDIP, which will either vest and settle or be forfeited.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Lee Michael Sean
Role
Head of Human Resources
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units - EDIP | 49 | $0.00 | $0.00 |
| Grant/Award | Restricted Stock Units - ELTIP | 47 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Units - EDIP — 5,617 shares (Direct);
Restricted Stock Units - ELTIP — 5,393 shares (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 10-Feb-2028, 9-Feb-2029
Key Figures
ELTIP RSU grant: 47 units
EDIP RSU grant: 49 units
ELTIP RSUs after grant: 5,393 units
+2 more
5 metrics
ELTIP RSU grant
47 units
Restricted Stock Units - ELTIP granted 27-May-2026
EDIP RSU grant
49 units
Restricted Stock Units - EDIP granted 27-May-2026
ELTIP RSUs after grant
5,393 units
Total RSUs reported following ELTIP transaction
EDIP RSUs after grant
5,617 units
Total RSUs reported following EDIP transaction
RSU vesting dates
12-Feb-2027; 10-Feb-2028; 9-Feb-2029
Service-based vesting schedule for restricted stock units
Key Terms
Restricted Stock Units, contingent right, vesting, forfeited/cancelled, +1 more
5 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"
vesting financial
"The restricted stock units vest 12-Feb-2027, 10-Feb-2028, 9-Feb-2029"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
forfeited/cancelled financial
"either vest and settle or are forfeited/cancelled prior to the applicable vesting date"
performance stock units (PSUs) financial
"The PSUs will vest on the third anniversary of the Grant Date"
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did NTB executive Lee Michael Sean report?
Lee Michael Sean reported receiving equity awards rather than trading shares. He was granted restricted stock units under two company plans, which are part of his compensation and convert into ordinary shares only if vesting conditions tied to continued service are met.
How many restricted stock units were granted to NTB’s Lee Michael Sean?
He received 47 restricted stock units under the ELTIP and 49 units under the EDIP. Each unit represents a contingent right to receive one ordinary share of Bank of N.T. Butterfield & Son Ltd when the awards vest according to the plan schedules.
Are Lee Michael Sean’s NTB restricted stock unit grants open-market purchases?
No, these are compensation grants, not market purchases. The awards were reported with transaction code A, meaning a grant or award acquisition at a price of $0.00 per unit, contingent on future vesting rather than immediate cash investment in the company’s shares.
When do the reported NTB restricted stock units for Lee Michael Sean vest?
The filing states vesting dates on 12-Feb-2027, 10-Feb-2028, and 9-Feb-2029, subject to continued service. The RSUs either vest and settle into ordinary shares on these dates or are forfeited or cancelled if the service-based conditions are not satisfied before vesting.
Do the NTB restricted stock units reported by Lee Michael Sean expire?
The filing notes these restricted stock units do not have a standard expiration date. Instead, they either vest and settle into ordinary shares on the specified vesting dates or are forfeited or cancelled beforehand, depending on whether the vesting conditions, including continued service, are met.
What are Lee Michael Sean’s reported NTB RSU holdings after these grants?
After the grants, his direct holdings include 5,393 restricted stock units under the ELTIP and 5,617 under the EDIP. These holdings represent potential future ordinary shares if the units vest, providing equity-based compensation aligned with his ongoing employment at Bank of N.T. Butterfield & Son Ltd.