Form 4: NB Bancorp EVP awarded 6,980 restricted shares

EVP Matthew G. Schulman received 6,980 NB Bancorp restricted shares at $0, vesting in three equal tranches starting March 9, 2027.

Summary

• Matthew G. Schulman (EVP, President Needham Private Bank) acquired 6,980 shares of NB Bancorp, Inc. common stock as a restricted stock award on 2026-03-09.
• Transaction code A indicates an equity award; reported price per share was $0, consistent with a grant under an equity incentive plan.
• All 6,980 shares are held directly after the transaction.
• The restricted shares vest 33 1/3% per year beginning on 2027-03-09, implying full vesting over three years (2027, 2028, 2029).
• The Form 4 was signed by attorney-in-fact Steven Lanter on 2026-03-30.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral-to-slightly-positive event that modestly improves insider alignment without providing new financial information.

Positives

• Insider equity ownership increases by 6,980 shares, aligning executive incentives with shareholders.
• Three-year, time-based vesting (33 1/3% annually starting 2027-03-09) promotes executive retention and long-term focus.
• Grant price reported at $0, indicating no out-of-pocket cost to the executive and a standard incentive structure.

Future Outlook

No financial guidance or forward-looking statements are provided; disclosure is limited to an executive restricted stock award with a three-year vesting schedule beginning March 9, 2027.

Industry Context

StockSavvy.ai notes that time-based restricted stock grants with three-year ratable vesting are standard compensation practices for senior officers at U.S. community and regional banks to encourage retention and align pay with performance.

Comparison to Industry Standards

• Three-year ratable vesting for executive restricted stock is common among U.S. community/regional banks; peers such as Independent Bank Corp. (INDB), Eastern Bankshares (EBC), and Cambridge Bancorp (CATC) frequently use similar time-based RSU/RSA structures for EVP-level roles.
• Grant sizing is typically assessed relative to share price and market capitalization; at many community banks, EVP time-based equity awards represent a small fraction of outstanding shares and are designed primarily for retention rather than immediate performance linkage.
• No performance-vesting component is indicated here; this aligns with many peer EVP grants that are time-vested, while CEO and top-tier packages at larger banks may include a mix of time- and performance-vested equity.

Related Party Transactions

• Award of 6,980 shares of restricted common stock to officer Matthew G. Schulman at a reported price of $0 under the company’s equity compensation arrangements.

Stakeholder Impact

• Shareholders: Increased executive share ownership may better align management incentives with long-term shareholder value.
• Employees/Management: Time-based vesting supports retention of a key executive.
• Potential minor dilution may occur depending on whether shares are issued from authorized stock or sourced from treasury shares under the plan.

Next Steps

• 33 1/3% of the restricted shares scheduled to vest on 2027-03-09.
• An additional 33 1/3% scheduled to vest on 2028-03-09.
• Final 33 1/3% scheduled to vest on 2029-03-09, assuming continued service and plan conditions are met.

Key Dates

Keywords

NB Bancorp, NBBK, Form 4, insider transaction, restricted stock, vesting schedule, executive compensation, beneficial ownership, Matthew G. Schulman, equity award