4//SEC Filing
Westermann Donald Michael 4
Accession 0000950170-25-033963
CIK 0001810546other
Filed
Mar 4, 7:00 PM ET
Accepted
Mar 5, 6:26 PM ET
Size
21.2 KB
Accession
0000950170-25-033963
Insider Transaction Report
Form 4
Westermann Donald Michael
Chief Information Officer
Transactions
- Exercise/Conversion
Common Stock
2025-03-03+14,359→ 28,839 total - Exercise/Conversion
Restricted Stock Units
2025-03-03−9,488→ 18,976 total→ Common stock (9,488 underlying) - Tax Payment
Common Stock
2025-03-03$17.73/sh−6,369$112,922→ 22,470 total - Award
Common Stock
2025-03-03+35,578→ 58,048 total - Tax Payment
Common Stock
2025-03-03$17.73/sh−15,932$282,474→ 42,116 total - Exercise/Conversion
Restricted Stock Units
2025-03-03−1,977→ 1,977 total→ Common stock (1,977 underlying) - Exercise/Conversion
Restricted Stock Units
2025-03-03−2,894→ 5,789 total→ Common stock (2,894 underlying) - Award
Restricted Stock Units
2025-03-03+34,697→ 34,697 total→ Common stock (34,697 underlying)
Holdings
- 22,005(indirect: By 401(k))
Common Stock
- 3,912(indirect: By ESOP)
Common Stock
Footnotes (9)
- [F1]Restricted stock units convert into common stock on a one-for-one basis.
- [F2]Reflects the amount of shares beneficially owned, including shares received due to automatic dividend reinvestment, as of the date of this report.
- [F3]Each restricted stock unit represents a contingent right to receive one share of EBC common stock on the applicable vesting date.
- [F4]On March 1, 2022, the reporting person was granted 47,438 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.
- [F5]On March 1, 2023, the reporting person was granted 5,930 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.
- [F6]On March 1, 2024, the reporting person was granted 8,683 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.
- [F7]On March 3, 2025, the reporting person was granted 34,697 restricted stock units of which 6,497 vest in three equal annual installments beginning March 1, 2026 and 28,200 vest after 3 years, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.
- [F8]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").
- [F9](Continued from footnote 8) 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.
Documents
Issuer
Eastern Bankshares, Inc.
CIK 0001810546
Entity typeother
Related Parties
1- filerCIK 0001825585
Filing Metadata
- Form type
- 4
- Filed
- Mar 4, 7:00 PM ET
- Accepted
- Mar 5, 6:26 PM ET
- Size
- 21.2 KB