Form 4: Director Stephen Cummings Receives NTB Stock Units

Director Stephen E. Cummings was granted 49 restricted stock units as part of the Bank of N.T. Butterfield & Son Ltd equity compensation plan.

Summary

• Director Stephen E. Cummings received a grant of 49 restricted stock units (RSUs) on May 27, 2026.
• Each RSU represents a contingent right to receive one ordinary share of Bank of N.T. Butterfield & Son Ltd (NTB) upon vesting.
• Following this transaction, the director's total beneficial ownership of derivative securities stands at 5,531 units.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a routine administrative filing regarding director compensation with no material impact on the company's financial position.

Positives

• Alignment of director interests with shareholders through equity-based compensation.

Negatives

• None identified.

Risks

• Vesting is subject to continued service requirements.
• Units may be forfeited or cancelled if service conditions are not met prior to the vesting date.

Future Outlook

The restricted stock units vest 30 days after the grant date over a two-year period, contingent upon the director's continued service.

Industry Context

StockSavvy.ai notes that equity grants to directors are standard corporate governance practice in the banking sector to ensure long-term alignment with shareholder value.

Comparison to Industry Standards

• The grant size is consistent with standard non-executive director compensation packages for mid-cap financial institutions.
• The use of restricted stock units as a retention and incentive tool is a common industry practice among publicly traded banks.

Stakeholder Impact

• Minimal impact on shareholders as the grant size is negligible relative to total shares outstanding.

Next Steps

• Vesting of the granted units over the next two years subject to continued service.

Key Dates

Keywords

NTB, Bank of N.T. Butterfield & Son, Insider Trading, Form 4, Director Compensation, Restricted Stock Units