Ahlquist David Andrew 4

4 · Eastern Bankshares, Inc. · Filed Mar 3, 2026

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Updated Mar 3, 2026

Eastern Bankshares (EBC) SVP David Ahlquist Exercises/Converts Derivatives, Receives RSUs

What Happened

David A. Ahlquist, SVP and Chief Accounting Officer of Eastern Bankshares (EBC), converted/exercised derivative securities into common stock on March 1, 2026 and had shares withheld for taxes. The filing shows conversions/acquisitions and disposals on March 1: 3,653 shares acquired via conversion/exercise (code M), 1,266 shares surrendered to cover tax withholding at $19.56/share for $24,763 (code F), and additional conversion/disposal entries for 1,457 and 2,196 shares (both coded M, listed as disposed). On March 2, 2026 he was granted 4,540 restricted stock units (RSUs) that vest in three equal annual installments beginning March 2, 2027.

Key Details

Transaction dates/prices:
- March 1, 2026: Exercise/conversion of derivatives (M) — 3,653 shares acquired (no per-share cash price listed).
- March 1, 2026: Tax withholding (F) — 1,266 shares surrendered at $19.56/share = $24,763.
- March 1, 2026: Additional derivative conversions/disposals (M) — 1,457 and 2,196 shares (reported as disposed; $0 per share shown).
- March 2, 2026: Grant (A) — 4,540 RSUs (no cash value listed).
Shares owned after the transactions: not specified in the excerpt; the filing references footnote F2 for the beneficial ownership total.
Relevant footnotes:
- F1/F3: RSUs convert one-for-one into common stock; each RSU is a contingent right to one share on vesting.
- F4/F5: Prior RSU grants (Mar 1, 2023 and Mar 1, 2024) vest in annual installments in prior years.
- F6: The March 2, 2026 grant of 4,540 RSUs vests in three equal annual installments starting Mar 2, 2027.
Filing date vs. transaction date: Form filed Mar 3, 2026 reporting transactions on Mar 1–2, 2026 (no late-filing flag indicated in the excerpt).

Context

The M code indicates exercise or conversion of derivative securities (here, consistent with RSU conversions noted in footnotes). The F code denotes shares surrendered to satisfy tax withholding — a routine, non-market sale of shares to cover taxes (often called share withholding or cashless withholding).
The March 2 grant is an RSU award that vests over future years and does not represent an immediate market purchase or sale.
These filings are generally informational; conversions and tax withholdings are common administrative insider transactions and do not necessarily signal a change in the insider’s view of the company.

Form 4

Period: 2026-03-01

SVP, Chief Accounting Officer

Transactions

Exercise/Conversion
Common Stock
[F1]
2026-03-01+3,653→ 13,171 total
Tax Payment
Common Stock
2026-03-01$19.56/sh−1,266$24,763→ 11,905 total
Exercise/Conversion
Restricted Stock Units
[F1][F4]
2026-03-01−1,457→ 0 total
→ Common stock (1,457 underlying)
Exercise/Conversion
Restricted Stock Units
[F1][F5]
2026-03-01−2,196→ 2,197 total
→ Common stock (2,196 underlying)
Award
Restricted Stock Units
[F3][F6]
2026-03-02+4,540→ 4,540 total
→ Common stock (4,540 underlying)

Holdings

Footnotes (6)

[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, 2023, the reporting person was granted 4,368 restricted stock units that vested in three equal annual installments beginning March 1, 2024, subject to continued service.
[F5]On March 1, 2024, the reporting person was granted 6,588 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.
[F6]On March 2, 2026, the reporting person was granted 4,540 restricted stock units that vest in three equal annual installments beginning March 2, 2027, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.

Signature

/s/ Kathleen R. Henry, by Power of Attorney|2026-03-03

1 file