Denis K. Sheahan - 03 Sep 2025 Form 4 Insider Report for Eastern Bankshares, Inc. (EBC)

Role
Chief Executive Officer, Director
Signature
/s/ Kathleen R. Henry, by Power of Attorney
Issuer symbol
EBC
Transactions as of
03 Sep 2025
Net transactions value
-$70,837
Form type
4
Filing time
04 Sep 2025, 17:22:58 UTC
Previous filing
26 Aug 2025
Next filing
03 Mar 2026
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
SHEAHAN DENIS K Chief Executive Officer, Director 125 HIGH STREET, BOSTON /s/ Kathleen R. Henry, by Power of Attorney 04 Sep 2025 0001207221

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EBC Common Stock Options Exercise $0 +8,606 +29% $0.000000 38,368 03 Sep 2025 Direct F2
transaction EBC Common Stock Tax liability $70,837 -4,162 -11% $17.02 34,206 03 Sep 2025 Direct
holding EBC Common Stock 246,337 03 Sep 2025 By Revocable Trust
holding EBC Common Stock 3,517 03 Sep 2025 By ESOP

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 -8,606 -33% $0.000000 17,215 03 Sep 2025 Common stock 8,606 Direct F8, F9
holding EBC Restricted Stock Units 3,232 03 Sep 2025 Common stock 3,232 Direct F1, F2, F3
holding EBC Restricted Stock Units 11,241 03 Sep 2025 Common stock 11,241 Direct F1, F2, F4
holding EBC Restricted Stock Units 34,544 03 Sep 2025 Common stock 34,544 Direct F1, F2, F5
holding EBC Restricted Stock Units 33,721 03 Sep 2025 Common stock 33,721 Direct F1, F2, F6
holding EBC Restricted Stock Units 42,221 03 Sep 2025 Common stock 42,221 Direct F1, F2, F7
holding EBC Restricted Stock Units 154,088 03 Sep 2025 Common stock 154,088 Direct F8, F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Eastern Bankshares, Inc. (the "Company") issued these time-based restricted stock units ("RSUs") as of July 12, 2024, when the Company completed a merger with Cambridge Bancorp ("Cambridge"). Pursuant to the terms of the Agreement and Plan of Merger, dated September 19, 2023, Cambridge RSUs and performance-based restricted stock units ("PRSUs") were assumed and converted to Company RSUs at an exchange ratio of 4.956 Company units for each Cambridge unit.
F2 Restricted stock units convert into common stock on a one-for-one basis.
F3 This award for 3,232 Company RSUs replaced an award of Cambridge RSUs granted to the reporting person on February 15, 2021, that vested in three equal annual installments beginning one year after the grant date. The reporting person elected to defer receipt of common stock issuable upon the vesting of these RSUs.
F4 This award for 11,241 Company RSUs replaced an award of Cambridge RSUs granted to the reporting person on February 15, 2022, that provided for vesting in three equal annual installments beginning one year after the grant date. The final tranche of this Company RSU award vested on February 15, 2025. The reporting person elected to defer receipt of common stock issuable upon vesting except for shares withheld for tax obligations.
F5 This award for 34,544 Company RSUs replaced an award of Cambridge RSUs granted to the reporting person on April 28, 2023, that provided for vesting in three equal annual installments beginning one year after the grant date. Subject to continued service, the remaining tranches will vest on April 28 of 2025 and 2026, respectively. The reporting person elected to defer receipt of common stock issuable upon vesting except for shares withheld for tax obligations.
F6 This award for 33,721 Company RSUs replaced an award of Cambridge PRSUs granted to the reporting person on February 15, 2022. The Company RSU award provided for cliff vesting on December 31, 2024. The reporting person elected to defer receipt of common stock issuable upon vesting except for shares withheld for tax obligations.
F7 This award for 42,221 Company RSUs replaced an award of Cambridge PRSUs that Cambridge granted to the reporting person on April 28, 2023. Subject to continued service, the Company RSU award provides for cliff vesting on December 31, 2025. The reporting person elected to defer receipt of common stock issuable upon vesting except for shares withheld for tax obligations.
F8 Each restricted stock unit represents a contingent right to receive one share of Company common stock on the applicable vesting date.
F9 On September 3, 2024, the reporting person was granted 25,821 restricted stock units that vest in three equal annual installments beginning September 3, 2025, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.
F10 On March 3, 2025, the reporting person was granted 154,088 restricted stock units of which 24,365 vest in three equal annual installments and 129,723 vest in five equal annual installments beginning March 1, 2026, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.