Robert Francis Rivers - Mar 1, 2023 Form 4 Insider Report for Eastern Bankshares, Inc. (EBC)

Role
Chair and CEO, Director
Signature
/s/ Sara Rundell, by Power of Attorney
Stock symbol
EBC
Transactions as of
Mar 1, 2023
Transactions value $
-$97,938
Form type
4
Date filed
3/3/2023, 03:08 PM
Previous filing
Mar 3, 2022
Next filing
Mar 5, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EBC Common Stock Options Exercise $0 +21.3K +10.67% $0.00 221K Mar 1, 2023 Direct F1
transaction EBC Common Stock Tax liability -$97.9K -6.27K -2.83% $15.63 215K Mar 1, 2023 Direct F2
holding EBC Common Stock 1.85K Mar 1, 2023 By ESOP F3

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 -21.3K -20% $0.00 85.4K Mar 1, 2023 Common Stock 21.3K Direct F1, F5
transaction EBC Restricted Stock Units Award $0 +31.8K $0.00 31.8K Mar 1, 2023 Common Stock 31.8K Direct F4, F6
* 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 200,000 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 Each restricted stock unit represents a contingent right to receive one share of EBC common stock on the applicable vesting date.
F5 On March 1, 2022, the reporting person was granted 106,736 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.
F6 On March 1, 2023, the reporting person was granted 31,829 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:

Exhibit 24.1 Power of Attorney