Form 4: NBT Bancorp Executive Sells Shares to Cover Tax Obligations

Cynthia A. Smaniotto, SVP and Chief HR Officer of NBT Bancorp, sold a portion of her shares to cover tax obligations.

Summary

• Cynthia A. Smaniotto, a Senior Vice President and Chief HR Officer at NBT Bancorp, has reported the sale of company stock.
• The sales were executed on January 15, 2025, and were made to cover tax obligations.
• A total of 208 shares were sold at a price of $47.62 per share.
• Following these transactions, Ms. Smaniotto directly owns 14,253.927 shares of NBT Bancorp stock.
• She also has indirect ownership of 3,204.154 shares through a 401k and 857.788 shares through the NBT Bancorp ESOP.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to an executive's stock transactions. It does not indicate any positive or negative sentiment about the company's performance.

Industry Context

This is a routine filing related to insider transactions and is common for executives who receive stock-based compensation. It does not indicate any specific trend in the banking industry.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across various industries, including the financial sector.
• Similar transactions are regularly reported by executives at comparable financial institutions, such as M&T Bank and KeyCorp.
• The volume of shares sold is relatively small compared to the total holdings of the executive, which is typical for these types of transactions.

Stakeholder Impact

• The stock sale has a minimal impact on shareholders as it is a small transaction by an individual executive.
• There is no direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

NBT Bancorp, insider trading, stock sale, Form 4, executive compensation, tax obligations, share ownership