Donald Michael Westermann - Mar 1, 2024 Form 4 Insider Report for Eastern Bankshares, Inc. (EBC)

Role: Chief Information Officer
Signature: /s/ Sara K. Rundell, by Power of Attorney
Stock symbol: EBC
Transactions as of: Mar 1, 2024
Transactions value $: -$45,565
Form type: 4
Date filed: 3/5/2024, 04:14 PM
Previous filing: Mar 3, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EBC	Common Stock	Options Exercise	$0	+11.5K	+174.37%	$0.00	18K	Mar 1, 2024	Direct	F1
transaction	EBC	Common Stock	Tax liability	-$45.6K	-3.56K	-19.72%	$12.81	14.5K	Mar 1, 2024	Direct
holding	EBC	Common Stock						21.4K	Mar 1, 2024	By 401(k)	F2
holding	EBC	Common Stock						2.79K	Mar 1, 2024	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	-25%	$0.00	28.5K	Mar 1, 2024	Common Stock	9.49K		Direct	F1, F4
transaction	EBC	Restricted Stock Units	Options Exercise	$0	-1.98K	-33.32%	$0.00	3.95K	Mar 1, 2024	Common Stock	1.98K		Direct	F1, F5
transaction	EBC	Restricted Stock Units	Award	$0	+8.68K		$0.00	8.68K	Mar 1, 2024	Common Stock	8.68K		Direct	F3, 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	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.
F6	On March 1, 2024, the reporting person was granted 8,683 restricted stock units that vest in three equal annual installments beginning March 1, 2025, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.