Matthew Adam Osborne - 01 Mar 2023 Form 4 Insider Report for Eastern Bankshares, Inc. (EBC)

Role
EVP, Sr. Commercial Banking Officer Exhibit 24.1 Power of Attorney
Signature
/s/ Sara Rundell, by Power of Attorney
Issuer symbol
EBC
Transactions as of
01 Mar 2023
Net transactions value
-$46,531
Form type
4
Filing time
03 Mar 2023, 15:07:42 UTC
Previous filing
03 Mar 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EBC Common Stock Options Exercise $0 +9,487 +190% $0.000000 14,487 01 Mar 2023 Direct F1
transaction EBC Common Stock Tax liability $46,531 -2,977 -21% $15.63 11,510 01 Mar 2023 Direct F2
holding EBC Common Stock 10,360 01 Mar 2023 By 401(k) F3
holding EBC Common Stock 1,845 01 Mar 2023 By ESOP F3
holding EBC Common Stock 1,000 01 Mar 2023 By spouse as UTMA custodian for two children F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction EBC Restricted Stock Units Options Exercise $0 -9,487 -20% $0.000000 37,951 01 Mar 2023 Common Stock 9,487 Direct F1, F6
transaction EBC Restricted Stock Units Award $0 +4,926 $0.000000 4,926 01 Mar 2023 Common Stock 4,926 Direct F5, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units convert into common stock on a one-for-one basis.
F2 Includes 5,000 shares held in joint tenancy with spouse.
F3 Reflects the amount of shares beneficially owned, including shares received due to automatic dividend reinvestment, as of the date of this report.
F4 Represents shares held in two separate UTMA acccounts, each for the benefit of one of the reporting person's children, each of which contains 500 shares, and for each of which the reporting person's spouse serves as custodian.
F5 Each restricted stock unit represents a contingent right to receive one share of EBC common stock on the applicable vesting date.
F6 On March 1, 2022, the reporting person was granted 47,438 restricted stock units that vest in five equal annual installments beginning March 1, 2023, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.
F7 On March 1, 2023, the reporting person was granted 4,926 restricted stock units that vest in three equal annual installments beginning March 1, 2024, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.

Remarks:

EVP, Sr. Commercial Banking Officer Exhibit 24.1 Power of Attorney