Form 4: NBT Bancorp Director Heidi M. Hoeller Acquires Shares Under Incentive Plan

Director Heidi M. Hoeller acquired 1,068 shares of NBT Bancorp Inc. common stock on May 21, 2024, under the company's 2024 Omnibus Incentive Plan.

Summary

• On May 21, 2024, Heidi M. Hoeller, a director of NBT Bancorp Inc., acquired 1,068 shares of the company's common stock.
• The acquisition was made under the NBT Bancorp Inc. 2024 Omnibus Incentive Plan.
• Each outside director is entitled to receive an annual retainer for Board service in the form of restricted stock units of the Company's common stock that vest in one year.
• The shares were acquired at a price of $0.0.
• Following the transaction, Hoeller directly owns 5,759 shares of NBT Bancorp Inc. common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects a routine transaction under an existing incentive plan, indicating confidence from a director.

Positives

• The acquisition of shares by a director signals confidence in the company.
• The incentive plan aligns director interests with shareholder value through stock ownership.

Industry Context

This type of stock grant to outside directors is a common practice in the banking industry to align their interests with those of the shareholders.

Comparison to Industry Standards

• Many publicly traded companies, including regional banks like M&T Bank and KeyCorp, use similar stock-based compensation plans for their directors.
• The number of shares granted as part of the annual retainer is generally in line with industry practices, varying based on company size and director compensation policies.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with shareholder value.

Key Dates