Bank of N.T. Butterfield (NTB) CFO converts 73,208 RSUs and now holds 275,247 shares
Rhea-AI Filing Summary
Bank of N.T. Butterfield & Son Ltd reported that Chief Financial Officer Michael Schrum exercised or converted 73,208 restricted stock units into 73,208 ordinary shares on 9-Aug-2026. Following these transactions, he holds 275,247 ordinary shares directly and 171,611 restricted stock units. The restricted stock units represent a contingent right to receive one ordinary share upon vesting and are scheduled to vest on several dates between 2027 and 2030, subject to continued service; they do not expire but either vest and settle or are forfeited.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 73,208 shares
Net Buy
2 txns
Insider
Schrum Michael
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units - EDIP F1, F2, F3 | 73,208 | -- | -- |
| Grant/Award | Ordinary shares F1 | 73,208 | -- | -- |
Holdings After Transaction:
Restricted Stock Units - EDIP — 171,611 shares (Direct);
Ordinary shares — 275,247 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 10-Aug-2027, 12-Feb-2027, 9-Aug-2027, 10-Feb-2028, 9-Feb-2029, 9-Feb-2030 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.
Key Figures
RSUs exercised or converted: 73,208 units
Ordinary shares acquired: 73,208 shares
Ordinary shares held after transaction: 275,247 shares
+3 more
6 metrics
RSUs exercised or converted
73,208 units
Restricted Stock Units derivative transaction on 9-Aug-2026
Ordinary shares acquired
73,208 shares
Non-derivative acquisition entry on 9-Aug-2026
Ordinary shares held after transaction
275,247 shares
Direct holdings following the reported transactions
Restricted stock units held after transaction
171,611 units
Derivative holdings following the reported transactions
First vesting dates
10-Aug-2027; 12-Feb-2027; 9-Aug-2027
Initial scheduled vesting dates for RSUs, subject to continued service
Later vesting dates
10-Feb-2028; 9-Feb-2029; 9-Feb-2030
Subsequent scheduled vesting dates for RSUs, subject to continued service
Key Terms
Restricted Stock Units, contingent right, vesting date, 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"
vesting date financial
"subject to continued service through each vesting date"
forfeited/cancelled financial
"either vest and settle or are forfeited/cancelled prior to the applicable vesting date"
FAQ
What insider transactions did NTB CFO Michael Schrum report on this Form 4?
CFO Michael Schrum reported exercising or converting 73,208 restricted stock units into 73,208 ordinary shares on 9-Aug-2026. This involved one derivative transaction and one non-derivative share acquisition entry.
What is the size of the restricted stock unit transaction for NTB’s CFO?
The filing shows a transaction involving 73,208 restricted stock units and an equal number of underlying ordinary shares. Each restricted stock unit represents a contingent right to receive one ordinary share upon vesting or settlement.
When do Michael Schrum’s NTB restricted stock units vest?
The restricted stock units are scheduled to vest on 10-Aug-2027, 12-Feb-2027, 9-Aug-2027, 10-Feb-2028, 9-Feb-2029, and 9-Feb-2030, subject to his continued service through each vesting date.
Do NTB CFO Michael Schrum’s restricted stock units expire?
The filing states that the restricted stock units do not expire. They either vest and settle into ordinary shares on the applicable vesting dates or are forfeited or cancelled before those dates.
Was Michael Schrum’s NTB Form 4 filed under a Rule 10b5-1 trading plan?
The document-level Rule 10b5-1 checkbox is not marked as true. There is no footnote indicating that these transactions were executed pursuant to a Rule 10b5-1 trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
