Form 4: NBT Bancorp EVP Scott A. Kingsley Acquires 4,086 Shares of Common Stock

Scott A. Kingsley, EVP & Chief Financial Officer of NBT Bancorp Inc., acquired 4,086 shares of common stock on March 18, 2024, as part of a performance-based restricted stock unit award.

Summary

• On March 18, 2024, Scott A. Kingsley, the EVP & Chief Financial Officer of NBT Bancorp Inc., acquired 4,086 shares of the company's common stock.
• The acquisition was part of an Omnibus Performance Unit Agreement, where select management members receive awards based on company performance goals.
• The award was in the form of restricted stock units that vest one year following the end of the performance period.
• Following the transaction, Kingsley directly owns 30,599 shares of NBT Bancorp Inc. common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The acquisition of shares by an executive is generally a good sign, indicating confidence in the company. The performance-based nature of the award further reinforces this positive sentiment.

Positives

• The acquisition of shares by a high-ranking executive can be seen as a positive sign, indicating confidence in the company's future performance.
• The performance-based nature of the award aligns management's interests with those of the shareholders.

Future Outlook

The restricted stock units vest one year following the end of the performance period, suggesting continued focus on achieving performance goals.

Industry Context

Executive compensation in the banking industry often includes stock-based awards to incentivize performance and align management interests with shareholder value.

Comparison to Industry Standards

• Stock-based compensation is a common practice among publicly traded companies, including banks like KeyCorp, M&T Bank, and Citizens Financial Group.
• The vesting period of one year after the performance period is fairly standard for restricted stock unit awards.
• The size of the award (4,086 shares) would need to be compared to similar awards at peer institutions to determine if it is above or below average.

Stakeholder Impact

• The acquisition of shares by an executive can positively influence shareholder sentiment.
• The performance-based compensation structure can motivate employees to achieve company goals.

Key Dates