Donald Michael Westermann - Mar 1, 2023 Form 4 Insider Report for Eastern Bankshares, Inc. (EBC)

Role
Chief Information Officer
Signature
/s/ Sara Rundell, by Power of Attorney
Stock symbol
EBC
Transactions as of
Mar 1, 2023
Transactions value $
-$45,530
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 +9.49K $0.00 9.49K Mar 1, 2023 Direct F1
transaction EBC Common Stock Tax liability -$45.5K -2.91K -30.71% $15.63 6.57K Mar 1, 2023 Direct
holding EBC Common Stock 20.7K Mar 1, 2023 By 401(k) F2
holding EBC Common Stock 1.85K Mar 1, 2023 By ESOP F2

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 -9.49K -20% $0.00 38K Mar 1, 2023 Common Stock 9.49K Direct F1, F4
transaction EBC Restricted Stock Units Award $0 +5.93K $0.00 5.93K Mar 1, 2023 Common Stock 5.93K Direct F3, F5
* 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 Reflects the amount of shares beneficially owned, including shares received due to automatic dividend reinvestment, as of the date of this report.
F3 Each restricted stock unit represents a contingent right to receive one share of EBC common stock on the applicable vesting date.
F4 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.
F5 On March 1, 2023, the reporting person was granted 5,930 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