Form 4: Jody Feldman Receives Restricted Stock Units at NTB
Statement of Changes in Beneficial Ownership
Bank of N.T. Butterfield & Son Ltd Managing Director Jody Feldman was granted 352 restricted stock units as part of equity incentive plans.
Summary
- Jody Feldman, Managing Director of Bermuda for Bank of N.T. Butterfield & Son Ltd (NTB), received a grant of 352 restricted stock units (RSUs) on May 27, 2026.
- The grant consists of 47 units under the EDIP plan and 305 units under the ELTIP plan.
- Each RSU represents a contingent right to receive one ordinary share of the company upon vesting.
- Following this transaction, the reporting person holds 5,365 units in the EDIP plan and 34,661 units in the ELTIP plan.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a routine administrative filing regarding executive compensation, which carries a neutral sentiment.
Positives
- The grant reflects long-term incentive alignment between the Managing Director and the company's performance.
Negatives
- None identified.
Risks
- Vesting of these units is subject to continued service through the specified dates.
- Units may be forfeited or cancelled if employment conditions are not met prior to the vesting dates.
Future Outlook
The units are scheduled to vest in installments on February 12, 2027, February 10, 2028, and February 9, 2029, contingent upon continued service.
Industry Context
StockSavvy.ai notes that equity grants to key executives are standard corporate governance practices designed to retain talent and align management interests with shareholder value in the banking sector.
Comparison to Industry Standards
- The use of multi-year vesting schedules for RSUs is consistent with standard executive compensation practices in the financial services industry.
Stakeholder Impact
- Minimal impact on shareholders as this is a standard equity compensation grant.
Next Steps
- Vesting of units on February 12, 2027, February 10, 2028, and February 9, 2029.
Key Dates
| Date | Description |
|---|---|
| 05/27/2026 | Transaction date of the RSU grant. |
| 05/29/2026 | Date of filing. |
| 02/12/2027 | Initial vesting date for the granted units. |
| 02/10/2028 | Secondary vesting date for the granted units. |
| 02/09/2029 | Final vesting date for the granted units. |
Keywords
NTB, Bank of N.T. Butterfield & Son, Form 4, Insider Trading, Equity Incentive Plan, Restricted Stock Units
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