4//SEC Filing
SHEAHAN DENIS K 4
Accession 0000950170-25-033950
CIK 0001810546other
Filed
Mar 4, 7:00 PM ET
Accepted
Mar 5, 6:22 PM ET
Size
17.5 KB
Accession
0000950170-25-033950
Insider Transaction Report
Form 4
SHEAHAN DENIS K
DirectorChief Executive Officer
Transactions
- Award
Restricted Stock Units
2025-03-03+154,088→ 154,088 total→ Common stock (154,088 underlying)
Holdings
- 11,241
Restricted Stock Units
→ Common stock (11,241 underlying) - 246,337(indirect: By Trust)
Common Stock
- 3,461(indirect: By ESOP)
Common Stock
- 3,232
Restricted Stock Units
→ Common stock (3,232 underlying) - 34,544
Restricted Stock Units
→ Common stock (34,544 underlying) - 33,721
Restricted Stock Units
→ Common stock (33,721 underlying) - 42,221
Restricted Stock Units
→ Common stock (42,221 underlying) - 25,821
Restricted Stock Units
→ Common stock (25,821 underlying)
Footnotes (10)
- [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.
- [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.
- [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.
Documents
Issuer
Eastern Bankshares, Inc.
CIK 0001810546
Entity typeother
Related Parties
1- filerCIK 0001207221
Filing Metadata
- Form type
- 4
- Filed
- Mar 4, 7:00 PM ET
- Accepted
- Mar 5, 6:22 PM ET
- Size
- 17.5 KB