Bari A. Harlam - May 15, 2023 Form 4 Insider Report for Eastern Bankshares, Inc. (EBC)

Role
Director
Signature
/s/ Sara Rundell, by Power of Attorney
Stock symbol
EBC
Transactions as of
May 15, 2023
Transactions value $
-$12,892
Form type
4
Date filed
5/17/2023, 04:06 PM
Previous filing
Feb 27, 2023
Next filing
Sep 14, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EBC Common Stock Award $0 +4.78K +6.6% $0.00 77.2K May 15, 2023 Direct F1
transaction EBC Common Stock Sale -$12.9K -1.15K -1.49% $11.21 76.1K May 15, 2023 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 These shares represent restricted stock that was granted under the Issuer's 2021 Equity Incentive Plan pursuant to the terms of such plan. This restricted stock is scheduled to vest in full on the anniversary of the grant date of May 15, 2023.
F2 Sales executed pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 2, 2022.
F3 Consists of (i) 9,138 shares of common stock held directly; (ii) 12,500 shares of common stock held in joint tenancy with spouse; (iii) 49,677 remaining shares of restricted stock that vest ratably over a five-year period on the anniversary of the November 30, 2021 date of grant; and (iv) the 4,782 granted shares of restricted stock reported on this Form 4.

Remarks:

Exhibit 24.1 Power of Attorney