Form 4: NBT Bancorp Director Jason David Brown Acquires Shares Under Incentive Plan

Director Jason David Brown 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, Jason David Brown, 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.
• Following the transaction, Brown directly owns 5,982 shares of NBT Bancorp Inc. common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction (stock grant to a director), indicating a stable and well-governed company. It's a neutral to slightly positive event.

Positives

• The acquisition of shares by a director demonstrates confidence in the company.
• The incentive plan aligns the interests of outside directors with those of shareholders.

Industry Context

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

Comparison to Industry Standards

• Many publicly traded companies, including regional banks like NBT Bancorp, use stock grants as part of their director compensation packages.
• These grants typically vest over a one-year period, similar to the vesting schedule described in the document.
• The size of the grant is generally benchmarked against peer companies to ensure competitive compensation for board members.

Stakeholder Impact

• The stock grant to the director aligns their interests with shareholders, potentially leading to better corporate governance and decision-making.

Key Dates