Form 4: NBT Bancorp Director Lowell A. Seifter Acquires Shares Under Incentive Plan

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

Summary

• Lowell A. Seifter, a director of NBT Bancorp Inc., acquired 1,068 shares of the company's common stock on May 21, 2024.
• The acquisition was made under the NBT Bancorp Inc. 2024 Omnibus Incentive Plan.
• The shares were acquired at a price of $0.0.
• Following the transaction, Seifter directly owns 46,885.562 shares of NBT Bancorp Inc. common stock.
• The acquisition represents an annual retainer for Board service in the form of restricted stock units that vest in one year.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The director's acquisition of shares indicates confidence in the company, but it's a routine transaction under an existing incentive plan.

Positives

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

Industry Context

Director share acquisitions are common in the banking industry as part of compensation packages and to align director interests with shareholder value.

Comparison to Industry Standards

• Director compensation packages often include stock options or restricted stock units to incentivize performance and align interests with shareholders.
• Many regional banks use similar omnibus incentive plans to attract and retain qualified board members.
• The vesting period of one year for the restricted stock units is a typical practice in the industry.

Stakeholder Impact

• The acquisition of shares by a director can positively influence shareholder sentiment.
• The incentive plan helps align the interests of the board with those of the shareholders.

Key Dates