Form 4: NBT Bancorp Executive Sarah Halliday Reports Stock Transactions

Sarah Halliday, EVP/President of Commercial Banking at NBT Bancorp, reports acquisition of restricted stock units and phantom stock.

Summary

• Sarah Halliday, an executive at NBT Bancorp Inc., reported transactions involving NBT Bancorp Inc. common stock.
• On May 21, 2024, Halliday acquired 2,758 shares of NBT Bancorp Inc. common stock at $0.00 per share, pursuant to an Omnibus Restricted Stock Unit Agreement vesting 20% annually.
• Additionally, on the same date, Halliday acquired 3,000 restricted stock units, also at $0.00 per share, which vest in full on the third anniversary of the grant date and are settled in shares, not cash.
• Halliday also holds 7,075.316 shares of NBT Bancorp Inc. common stock indirectly through a 401k.
• Halliday also has 4,981.947 shares of phantom stock, each deemed invested in one share of NBT Bancorp Inc. common stock, pursuant to the terms of the Deferred Compensation Plan.
• Following these transactions, Halliday directly owns 33,727 shares of NBT Bancorp Inc. common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a standard disclosure of stock transactions, with no inherent positive or negative implications beyond the alignment of executive interests with company performance.

Positives

• The acquisition of restricted stock units and shares by a company executive can be seen as a positive sign, indicating confidence in the company's future performance.

Future Outlook

The restricted stock units vest over time, suggesting a continued alignment of the executive's interests with the company's long-term performance.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in the financial services industry.

Comparison to Industry Standards

• Executive compensation packages including restricted stock units and phantom stock are common practices in the banking industry to incentivize performance and retain key personnel.
• Comparable companies such as Community Bank System Inc. and Five Star Bancorp also utilize similar equity-based compensation strategies for their executives.

Stakeholder Impact

• The transactions could have a minor positive impact on shareholder sentiment, as they demonstrate the executive's commitment to the company.

Key Dates