Butterfield COO granted new RSU awards
Neff Michael Walter reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
Neff Michael Walter reported acquisition or exercise transactions in this Form 4 filing.
Bank of N.T. Butterfield & Son Ltd Chief Operating Officer Michael Walter Neff received new equity-based awards. On 27-May-2026 he was granted 405 restricted stock units under the ELTIP and 51 restricted stock units under the EDIP, each representing one ordinary share upon vesting.
Following these grants, he holds 46,041 ELTIP units and 5,781 EDIP units. The restricted stock units 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
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Insider Trade Summary
Grant/Award: 456 shares
Grant/Award
2 txns
Insider
Neff Michael Walter
Role
Chief Operating Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units - EDIP | 51 | $0.00 | $0.00 |
| Grant/Award | Restricted Stock Units - ELTIP | 405 | $0.00 | $0.00 |
Holdings After Transaction:
Restricted Stock Units - EDIP — 5,781 contracts (Direct);
Restricted Stock Units - ELTIP — 46,041 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 RSUs granted: 405 units
EDIP RSUs granted: 51 units
ELTIP RSUs after grant: 46,041 units
+3 more
6 metrics
ELTIP RSUs granted
405 units
Restricted Stock Units - ELTIP granted 27-May-2026
EDIP RSUs granted
51 units
Restricted Stock Units - EDIP granted 27-May-2026
ELTIP RSUs after grant
46,041 units
Total ELTIP restricted stock units following transaction
EDIP RSUs after grant
5,781 units
Total EDIP restricted stock units following transaction
Vesting dates
12-Feb-2027, 10-Feb-2028, 9-Feb-2029
Restricted stock units vest subject to continued service
Unit-to-share ratio
1 unit : 1 share
Each RSU represents one ordinary share upon vesting/settlement
Key Terms
Restricted Stock Units, ELTIP, EDIP, PSUs, +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"
EDIP financial
"Restricted Stock Units - EDIP"
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.
vesting financial
"The restricted stock units vest 12-Feb-2027, 10-Feb-2028, 9-Feb-2029 subject to continued service through each vesting date."
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did NTB Chief Operating Officer Michael Walter Neff report in this Form 4 filing?
Michael Walter Neff reported new equity awards, receiving 405 restricted stock units under the ELTIP and 51 under the EDIP. Each unit represents one ordinary share of Bank of N.T. Butterfield & Son Ltd upon vesting and settlement, aligning his compensation with shareholder value.
How many restricted stock units does NTB’s COO now hold after these grants?
After the new grants, the COO holds 46,041 restricted stock units under the ELTIP and 5,781 under the EDIP. These derivative holdings represent future rights to receive ordinary shares, contingent on meeting vesting conditions over the stated schedule.
When do the newly granted NTB restricted stock units vest for the COO?
The restricted stock units vest on 12-Feb-2027, 10-Feb-2028, and 9-Feb-2029, subject to continued service through each vesting date. Upon vesting, each unit generally settles into one ordinary share, reinforcing long-term retention incentives for the executive.
Do the NTB restricted stock units granted to the COO have an expiration date?
The restricted stock units do not expire in the traditional option sense; they either vest and settle or are forfeited or cancelled before the applicable vesting date. This structure ties value realization to service and performance over the vesting period.
What does each restricted stock unit granted to NTB’s COO represent?
Each restricted stock unit represents a contingent right to receive one ordinary share of Bank of N.T. Butterfield & Son Ltd upon vesting and settlement. This makes the awards a form of stock-based compensation rather than immediate share ownership or cash payment.
AI-generated analysis. How Rhea-AI works. Not financial advice.
