Sec Form 4 Filing - DIETRICH MARTIN A @ NBT BANCORP INC - 2012-02-01

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person DIETRICH MARTIN A 2. Issuer Name and Ticker or Trading Symbol NBT BANCORP INC [ NBTB] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) President & CEO NBT Bancorp (Last) (First) (Middle) 52 SOUTH BROAD STREET 3. Date of Earliest Transaction (MM/DD/YY) 02/01/2012 (Street) NORWICH, NY13815 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price NBT Bancorp Inc. Common Stock 02/01/2012 M 24,000 A $ 17.538 179,945.498 D NBT Bancorp Inc. Common Stock 02/01/2012 S 24,000 D $ 22.8356 155,945.498 D NBT Bancorp Inc. Common Stock 02/01/2012 S 3,629 D $ 22.9554 ( 1 ) 152,316.498 D NBT Bancorp Inc. Common Stock 02/01/2012 S 2,856 D $ 22.8981 149,460.498 D NBT Bancorp Inc. Common Stock 02/02/2012 S 848 D $ 22.8854 0 I by Spouse NBT Bancorp Inc. Common Stock 17,953.564 I 401k NBT Bancorp Inc. Common Stock 755 I Custodian for Minor NBT Bancorp Inc. Common Stock 10,512.263 I NBT Bancorp ESOP

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Non-Qualified Stock Option (right to buy) $ 17.538 02/01/2012 M 24,000 01/01/2004 01/01/2013 NBT Bancorp Inc. Common Stock 24,000 $ 22.8356 0 D Non-Qualified Stock Option (right to buy) $ 20.19 01/15/2011( 2 ) 01/15/2020 NBT Bancorp Inc. Common Stock 25,000 25,000 D Non-Qualified Stock Option (right to buy) $ 20.3617 01/15/2009( 3 ) 01/15/2018 NBT Bancorp Inc. Common Stock 25,000 25,000 D Non-Qualified Stock Option (right to buy) $ 20.94 11/18/2013( 4 ) 11/18/2021 NBT Bancorp Inc. Common Stock 30,000 30,000 D Non-Qualified Stock Option (right to buy) $ 22.1715 01/01/2005( 3 ) 01/01/2014 NBT Bancorp Inc. Common Stock 21,311 21,311 D Non-Qualified Stock Option (right to buy) $ 22.205 02/11/2006( 4 ) 02/11/2014 NBT Bancorp Inc. Common Stock 3,840 3,840 D Non-Qualified Stock Option (right to buy) $ 22.352 01/01/2007( 3 ) 01/01/2016 NBT Bancorp Inc. Common Stock 30,000 30,000 D Non-Qualified Stock Option (right to buy) $ 23.2708 01/20/2006( 3 ) 01/20/2015 NBT Bancorp Inc. Common Stock 22,423 22,423 D Non-Qualified Stock Option (right to buy) $ 24.4458 08/01/2007( 4 ) 08/01/2015 NBT Bancorp Inc. Common Stock 6,470 6,470 D Non-Qualified Stock Option (right to buy) $ 24.5692 12/27/2009( 4 ) 12/27/2017 NBT Bancorp Inc. Common Stock 12,641 12,641 D Non-Qualified Stock Option (right to buy) $ 25.38 01/15/2010( 2 ) 01/15/2019 NBT Bancorp Inc. Common Stock 25,000 25,000 D Non-Qualified Stock Option (right to buy) $ 25.762 01/01/2008( 3 ) 01/01/2017 NBT Bancorp Inc. Common Stock 28,000 28,000 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other DIETRICH MARTIN A 52 SOUTH BROAD STREET NORWICH, NY13815 X President & CEO NBT Bancorp Signatures By: F. Sheldon Prentice, Power of Attorney For: Martin A Dietrich 02/02/2012 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The sale price is an average of 2,944 shares sold at $ 22.95002, 585 shares sold at $ 22.98 and 100 shares sold at $ 22.97. ( 2 )Pursuant to NBT Bancorp Inc. Omnibus Stock Option Agreement the grant vests 40% for first year, 20% annually for following years. ( 3 )Pursuant to NBT Bancorp Inc. 1993 Stock Option Plan grant vests 40% for first year, 20% annually for following years. ( 4 )Pursuant to NBT Bancorp Inc. 1993 Stock Option Plan reload grant vests 100% two years after date of its grant.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

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