NBT Bancorp supplements merger proxy after eight demand letters and two lawsuits

NBT BANCORP INC

Evans received 8 demand letters (Oct 30–Dec 9, 2024) and two NY state complaints alleging incomplete proxy disclosures.
NBT and Evans supplement proxy with revised Piper Sandler peer-group tables and discount-rate methodology (Evans ~10.87%, NBT ~8.87%).
Company denies allegations and legal necessity but supplements to avoid delay/cost; merger agreement (Sept 9, 2024) remains in effect.
Supplemental disclosures cover comparable-company analyses, precedent transactions, and net-present-value analyses for the fairness opinion.

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