Form 4: NBT Bancorp Director Matthew J. Salanger Acquires Shares Under Incentive Plan

Director Matthew J. Salanger 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, Matthew J. Salanger, 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.
• The shares were acquired at a price of $0.00.
• Following the transaction, Salanger directly owns 26,034 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 positive. The director's acquisition of shares under the incentive plan is a standard practice and indicates confidence in the company's future.

Positives

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

Industry Context

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

Comparison to Industry Standards

• Director compensation packages often include stock options or restricted stock units to incentivize performance and long-term value creation.
• Many financial institutions use omnibus incentive plans to attract and retain key personnel, including directors.

Stakeholder Impact

• The acquisition of shares by a director can positively influence shareholder sentiment.

Key Dates