Galbato Chan 4

What Happened
Galbato Chan, a director of Eastern Co (EML), acquired 962 shares reported as a purchase on 2026-03-16. The filing shows a price of $20.93 per share for a total value of $20,135. This was an issuance under the company’s director fee program (reported with transaction code P), i.e., compensation rather than an open-market investment decision.

Key Details

• Transaction date and price: 2026-03-16 at $20.93 per share (total $20,135).
• Transaction type: Reported as Purchase (P); shares were issued under the Director’s Fee Program (footnote F1).
• Footnote F1: 962 shares issued pursuant to The Eastern Company Director's Fee Program under Rule 16b-3(d); number of shares was calculated using the share price on March 13, 2026.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Filing timeliness: Reported on 2026-03-17 for a 2026-03-16 transaction — a timely Form 4 filing (no late- filing flag noted).

Context
Issuances under a director fee program are a common way companies compensate board members with equity and are calculated based on a set valuation date — they are compensation-related, not the same as a voluntary open-market buy that might signal personal bullishness. Rule 16b-3(d) provides an exemption that allows certain compensatory stock issuances to directors without short-swing liability; this is a routine compensation event rather than an indicator of insider trading strategy.