Robert Francis Rivers - Mar 3, 2025 Form 4 Insider Report for Eastern Bankshares, Inc. (EBC)

Role
Executive Chair, Director
Signature
/s/ Kathleen R. Henry, by Power of Attorney
Stock symbol
EBC
Transactions as of
Mar 3, 2025
Transactions value $
-$1,002,951
Form type
4
Date filed
3/5/2025, 06:26 PM
Previous filing
Mar 5, 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EBC Common Stock Options Exercise $0 +47.5K +19.98% $0.00 285K Mar 3, 2025 Direct F1
transaction EBC Common Stock Tax liability -$373K -21.1K -7.39% $17.73 264K Mar 3, 2025 Direct F2
transaction EBC Common Stock Award $0 +80.1K +30.31% $0.00 344K Mar 3, 2025 Direct F9, F10
transaction EBC Common Stock Tax liability -$629K -35.5K -10.32% $17.73 309K Mar 3, 2025 Direct F2
holding EBC Common Stock 3.91K Mar 3, 2025 By ESOP F3

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 -21.3K -33.33% $0.00 42.7K Mar 3, 2025 Common stock 21.3K Direct F1, F5
transaction EBC Restricted Stock Units Options Exercise $0 -10.6K -50% $0.00 10.6K Mar 3, 2025 Common stock 10.6K Direct F1, F6
transaction EBC Restricted Stock Units Options Exercise $0 -15.5K -33.33% $0.00 31.1K Mar 3, 2025 Common stock 15.5K Direct F1, F7
transaction EBC Restricted Stock Units Award $0 +33.7K $0.00 33.7K Mar 3, 2025 Common stock 33.7K Direct F4, F8
* 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. Reflects the amount of shares beneficially owned, including shares received due to automatic dividend reinvestment, as of the date of this report.
F2 Includes 200,000 shares held in joint tenancy with spouse.
F3 Reflects the amount of shares beneficially owned, including shares received due to automatic dividend reinvestment, as of the date of this report.
F4 Each restricted stock unit represents a contingent right to receive one share of EBC common stock on the applicable vesting date.
F5 On March 1, 2022, the reporting person was granted 106,736 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.
F6 On March 1, 2023, the reporting person was granted 31,829 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.
F7 On March 1, 2024, the reporting person was granted 46,604 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.
F8 On March 3, 2025, the reporting person was granted 33,671 restricted stock units that vest in three 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.
F9 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").
F10 (Continued from footnote 9) 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.