Form 4 for EBC Eastern Bankshares, Inc.
Accepted 2025-03-05 00:00:00 ET · period of report 2025-03-03 · accession 0000950170-25-033963 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DM | 2025-03-05 | 2025-03-03 | EBC | Westermann Donald Michael | CIO | F - Tax | $17.73 | -22.3K | 22.5K | -50% | -$395.4K |
| D | 2025-03-05 | 2025-03-03 | EBC | Westermann Donald Michael | CIO | M - OptEx | $0.00 | +14.4K | 28.8K | +99% | $0 |
| D | 2025-03-05 | 2025-03-03 | EBC | Westermann Donald Michael | CIO | A - Grant | $0.00 | +35.6K | 58.0K | +158% | $0 |
| DM | 2025-03-05 | 2025-03-03 | EBC | Westermann Donald Michael | CIO | M - OptEx | $0.00 | -14.4K | 5,789 | -71% | $0 |
| D | 2025-03-05 | 2025-03-03 | EBC | Westermann Donald Michael | CIO | A - Grant | $0.00 | +34.7K | 34.7K | New | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2025-03-03 | F | D | 15,932 | $17.73 | 42,116 | D | — | — | |
| 2 | Common | Common Stock | 2025-03-03 | M | A | 14,359 | $0.00 | 28,839 | D | — | — | (F1) Restricted stock units convert into common stock on a one-for-one basis. |
| 3 | Common | Common Stock | 2025-03-03 | A | A | 35,578 | $0.00 | 58,048 | D | — | — | (F8) Represents shares of Eastern Bankshares, Inc. (the "Company") common stock, par value $0.01 per share ("Common Stock") received upon vesting of a performance restricted stock unit ("PRSU") award eligible to vest based upon both (i) the Company's performance measured at the end of the three-year performance period of January 1, 2022 through December 31, 2024 (the "Performance Period") relative to the KBW Nasdaq Regional Banking Index with respect to growth in earnings per share ("EPS Measure"), and (ii) the Company's performance measured at the end of the Performance Period relative to the KBW Nasdaq Regional Banking Index with respect to total shareholder return ("TSR Measure"). (F9) (Continued from footnote 8) Based on the Company's three year performance on the TSR Measure and EPS Measure respectively, as measured at the end of the Performance Period, the Compensation Committee determined that (i) performance under the TSR Measure did not meet the minimum threshold, resulting in no award of shares for this metric, and (ii) performance under the EPS Measure met the maximum payout threshold of 150% of target. |
| 4 | Common | Common Stock | 2025-03-03 | F | D | 6,369 | $17.73 | 22,470 | D | — | — | |
| 5 | Derivative | Restricted Stock Units | 2025-03-03 | M | D | 9,488 | $0.00 | 18,976 | D | — · — to — | 9,488 Common stock | (F1) Restricted stock units convert into common stock on a one-for-one basis. (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. |
| 6 | Derivative | Restricted Stock Units | 2025-03-03 | M | D | 1,977 | $0.00 | 1,977 | D | — · — to — | 1,977 Common stock | (F1) Restricted stock units convert into common stock on a one-for-one basis. (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. |
| 7 | Derivative | Restricted Stock Units | 2025-03-03 | M | D | 2,894 | $0.00 | 5,789 | D | — · — to — | 2,894 Common stock | (F1) Restricted stock units convert into common stock on a one-for-one basis. (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. |
| 8 | Derivative | Restricted Stock Units | 2025-03-03 | A | A | 34,697 | $0.00 | 34,697 | D | — · — to — | 34,697 Common stock | (F3) Each restricted stock unit represents a contingent right to receive one share of EBC common stock on the applicable vesting date. (F7) On March 3, 2025, the reporting person was granted 34,697 restricted stock units of which 6,497 vest in three equal annual installments beginning March 1, 2026 and 28,200 vest after 3 years, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date. |