Form 4: NBT Bancorp Director V. Daniel Robinson II Acquires Shares Under Incentive Plan

Director V. Daniel Robinson II 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, V. Daniel Robinson II, 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.
• These shares were awarded as part of the annual retainer for Board service, in the form of restricted stock units that vest in one year.
• The price per share was $0.0.
• Following the transaction, Robinson directly owns 19,042.63 shares and indirectly owns 537,558 shares through a corporation.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction under an existing incentive plan, indicating stability and alignment of interests. It's a neutral positive.

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.

Future Outlook

The restricted stock units vest in one year, suggesting continued board service and alignment with company performance.

Industry Context

Director stock ownership is a common practice in publicly traded companies to align management's interests with those of shareholders. Incentive plans like the NBT Bancorp Inc. 2024 Omnibus Incentive Plan are typical for attracting and retaining qualified board members.

Comparison to Industry Standards

• Director compensation packages often include stock options or restricted stock units to incentivize performance and align interests with shareholders.
• The vesting period of one year for the restricted stock units is a standard practice in the industry.
• Comparing the size of the stock grant to those of directors at peer banks (e.g., community or regional banks with similar asset sizes) would provide a benchmark for assessing the competitiveness of NBT Bancorp's director compensation.

Stakeholder Impact

• The stock acquisition by a director can positively influence shareholder confidence.
• The incentive plan aims to retain qualified board members, benefiting the company and its stakeholders.

Key Dates