NBT Bancorp Inc. Reports Director and Officer Changes
Ticker: NBTB · Form: 8-K · Filed: May 21, 2024 · CIK: 790359
Sentiment: neutral
Topics: leadership-change, governance, officer-appointment, director-election
Related Tickers: NBTB
TL;DR
NBT Bancorp board shakeup, new execs appointed, compensation details pending.
AI Summary
NBT Bancorp Inc. announced on May 21, 2024, changes in its board of directors and executive officers. The filing details the departure of certain officers and the election of new directors, alongside updates to compensatory arrangements for key executives. Specific details regarding the individuals involved and the exact nature of the compensatory arrangements were not provided in this initial filing.
Why It Matters
Changes in a company's board and executive team can signal shifts in strategy, governance, or operational focus, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in leadership and executive compensation can introduce uncertainty and signal potential strategic shifts, warranting closer investor scrutiny.
Key Numbers
- 000-14703 — SEC File Number (Identifies the company's filing history with the SEC.)
- 16-1268674 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- NBT Bancorp Inc. (company) — Registrant
- May 21, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 52 South Broad Street Norwich, New York 13815 (address) — Principal executive offices
FAQ
What specific roles have been affected by the director and officer changes at NBT Bancorp Inc.?
The filing indicates the departure of certain officers and the election of new directors, but does not specify the exact roles affected in this report.
When did the reported changes in directors and officers take effect?
The earliest event reported in this filing occurred on May 21, 2024.
Are there any details provided regarding the new compensatory arrangements for the officers?
The filing mentions compensatory arrangements of certain officers but does not provide specific details within this report.
What is NBT Bancorp Inc.'s state of incorporation?
NBT Bancorp Inc. is incorporated in Delaware.
Where are NBT Bancorp Inc.'s principal executive offices located?
The principal executive offices are located at 52 South Broad Street, Norwich, New York 13815.
Filing Stats: 815 words · 3 min read · ~3 pages · Grade level 9.9 · Accepted 2024-05-21 16:01:40
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share NBTB The NASDAQ Stock Mar
Filing Documents
- ef20029559_8k.htm (8-K) — 36KB
- ef20029559_ex10-1.htm (EX-10.1) — 276KB
- ef20029559_ex10-2.htm (EX-10.2) — 57KB
- 0001140361-24-027021.txt ( ) — 558KB
- nbtb-20240521.xsd (EX-101.SCH) — 4KB
- nbtb-20240521_lab.xml (EX-101.LAB) — 21KB
- nbtb-20240521_pre.xml (EX-101.PRE) — 16KB
- ef20029559_8k_htm.xml (XML) — 4KB
02
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. NBT Bancorp Inc. 2024 Omnibus Incentive Plan On May 21, 2024 (the "Effective Date"), at the 2024 Annual Meeting of Stockholders (the "Annual Meeting") of NBT Bancorp Inc. (the "Company"), the stockholders of the Company approved the NBT Bancorp Inc. 2024 Omnibus Incentive Plan (the "2024 Plan"), which will replace the NBT Bancorp Inc. 2018 Omnibus Incentive Plan (the "2018 Plan"). The Board of Directors of the Company (the "Board") approved the 2024 Plan on March 18, 2024. Term . The 2024 Plan terminates automatically on May 20, 2034, which is the day before the tenth anniversary of the Effective Date, unless it is earlier terminated by the Board designated by the Board. Eligibility . Awards may be made under the 2024 Plan to employees, officers, directors, consultants or advisers of the Company or any of its affiliates. Awards . The following types of awards may be made under the 2024 Plan, subject to limitations set forth in the 2024 Plan: Options to purchase shares of common stock of the Company; Stock appreciation rights; Restricted stock; Restricted stock units; Unrestricted stock; Dividend equivalent rights; and Cash awards. Shares Available for Issuance . number of shares of common stock that become available for grant due to forfeiture of awards outstanding under the 2018 Plan and any other prior plans. A description of the material terms of the 2024 Plan is set forth in Proposal 3 contained in the Company's Definitive Proxy Statement for the Annual Meeting filed with the Securities and Exchange Commission (the "SEC") on April 5, 2024. The above
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 10.1 NBT Bancorp Inc. 2024 Omnibus Incentive Plan 10.2* Form of Restricted Stock Unit Award Agreement 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) *Schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K. NBT Bancorp Inc. agrees to furnish supplementally to the SEC a copy of any omitted schedule upon request by the SEC. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. NBT BANCORP INC. Date: May 21, 2024 By: /s/ Annette L. Burns Annette L. Burns Executive Vice President and Chief Financial Officer