Denis K. Sheahan - Mar 3, 2025 Form 4 Insider Report for Eastern Bankshares, Inc. (EBC)

Role: Chief Executive Officer, Director
Signature: /s/ Kathleen R. Henry, by Power of Attorney
Stock symbol: EBC
Transactions as of: Mar 3, 2025
Transactions value $: $0
Form type: 4
Date filed: 3/5/2025, 06:22 PM
Previous filing: Sep 4, 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	EBC	Common Stock						246K	Mar 3, 2025	By Revocable Trust
holding	EBC	Common Stock						3.46K	Mar 3, 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	Award	$0	+154K		$0.00	154K	Mar 3, 2025	Common stock	154K		Direct	F8, F10
holding	EBC	Restricted Stock Units						3.23K	Mar 3, 2025	Common stock	3.23K		Direct	F1, F2, F3
holding	EBC	Restricted Stock Units						11.2K	Mar 3, 2025	Common stock	11.2K		Direct	F1, F2, F4
holding	EBC	Restricted Stock Units						34.5K	Mar 3, 2025	Common stock	34.5K		Direct	F1, F2, F5
holding	EBC	Restricted Stock Units						33.7K	Mar 3, 2025	Common stock	33.7K		Direct	F1, F2, F6
holding	EBC	Restricted Stock Units						42.2K	Mar 3, 2025	Common stock	42.2K		Direct	F1, F2, F7
holding	EBC	Restricted Stock Units						25.8K	Mar 3, 2025	Common stock	25.8K		Direct	F8, F9

* 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.