Steven R. Larochelle - 01 Jul 2025 Form 4 Insider Report for ENTERPRISE BANCORP INC /MA/ (EBTC)

Role
CEO, Director
Signature
/s/ Joseph R. Lussier as attorney-in-fact for Steven R. Larochelle
Issuer symbol
EBTC
Transactions as of
01 Jul 2025
Transactions value $
-$212,946
Form type
4
Filing time
01 Jul 2025, 15:42:10 UTC
Previous filing
22 Apr 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Larochelle Steven R CEO, Director C/O ENTERPRISE BANCORP, INC., 222 MERRIMACK STREET, LOWELL /s/ Joseph R. Lussier as attorney-in-fact for Steven R. Larochelle 01 Jul 2025 0001462703

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EBTC Common Stock Tax liability -$213K -5.37K -9.26% $39.64 52.6K 01 Jul 2025 Direct F1
transaction EBTC Common Stock Disposed to Issuer -52.6K -100% 0 01 Jul 2025 Direct F1, 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 EBTC Option (Right to Buy) Disposed to Issuer -571 -100% 0 01 Jul 2025 Common Stock 571 $21.86 Direct F3
transaction EBTC Option (Right to Buy) Disposed to Issuer -397 -100% 0 01 Jul 2025 Common Stock 397 $30.46 Direct F3
transaction EBTC Option (Right to Buy) Disposed to Issuer -375 -100% 0 01 Jul 2025 Common Stock 375 $34.33 Direct F3
transaction EBTC Option (Right to Buy) Disposed to Issuer -519 -100% 0 01 Jul 2025 Common Stock 519 $29.84 Direct F3
transaction EBTC Option (Right to Buy) Disposed to Issuer -537 -100% 0 01 Jul 2025 Common Stock 537 $28.22 Direct F3
transaction EBTC Stock Option (Right to Buy) Disposed to Issuer -376 -100% 0 01 Jul 2025 Common Stock 376 $32.73 Direct F3
transaction EBTC Stock Option (Right to Buy) Disposed to Issuer -391 -100% 0 01 Jul 2025 Common Stock 391 $38.58 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Steven R. Larochelle is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 In accordance with the Merger Agreement, all unvested shares of restricted stock automatically vested in full at the Effective Time (as defined in the Merger Agreement) to the extent not previously forfeited, and was considered outstanding shares of Enterprise common entitled to receive the Merger Consideration (as defined in the Merger Agreement).
F2 Pursuant to the Agreement and Plan of Merger, dated as of December 8, 2024 (the "Merger Agreement"), by and among Enterprise Bancorp, Inc. ("Enterprise"), Enterprise Bank and Trust Company, Independent Bank Corp. ("Independent") and Rockland Trust Company, each issued and outstanding share of Enterprise common stock was converted into the right to receive (i) $2.00 in cash and (ii) 0.60 shares of Independent common stock (subject to the payment of cash in lieu of fractional shares).
F3 In accordance with the Merger Agreement, each option to purchase Issuer common stock, whether vested or unvested, automatically converted to the right to receive a cash payment equal to (i) the number of shares of Enterprise common stock provided for in such option and (ii) the excess, if any, of the Per Share Cash Equivalent Consideration (as defined in the Merger Agreement) over the exercise price per share of Enterprise common stock provided for in such option, which cash payment was made without interest and was net of all applicable withholding taxes.