Miller Quincy Lee 4

What Happened

• Quincy Miller, President of Eastern Bankshares (EBC), had performance/restricted stock units convert into 25,069 shares on March 1, 2026 (code M). To cover tax obligations, he surrendered 11,154 shares (worth ~$218,172) and 4,676 shares (worth ~$91,463), for total withholding of 15,830 shares ($309,635) (code F). After withholding, he netted roughly 9,239 shares from the vesting event. On March 2, 2026 he was also granted 15,162 new restricted stock units (RSUs) that vest starting March 2, 2027 (code A).

Key Details

• Transaction dates and prices:
  • Mar 1, 2026: 25,069 shares converted from derivatives (vested awards) @ $0.00 (acquired).
  • Mar 1, 2026: 11,154 shares withheld @ $19.56 = $218,172 (tax withholding).
  • Mar 1, 2026: 4,676 shares withheld @ $19.56 = $91,463 (tax withholding).
  • Mar 2, 2026: Grant of 15,162 RSUs (derivative award) @ $0.00 (acquired).
• Net shares added from the vesting event: approximately 9,239 shares (25,069 acquired minus ~15,830 withheld).
• Notable footnotes:
  • F9: The shares resulted from a PRSU payout at 93.1% of target for the Jan 1, 2023–Dec 31, 2025 performance period.
  • F8: The Mar 2, 2026 grant of 15,162 RSUs vests in three equal annual installments beginning Mar 2, 2027.
  • F1/F3: RSUs/PRSUs convert one-for-one into common stock when they vest.
• Filing timeliness: Report covers transactions on 2026-03-01 and was filed 2026-03-03 — appears timely under Form 4 rules.

Context

• These transactions reflect vesting and tax-withholding, not open-market sales. Codes: M = exercise/conversion of derivative (vesting of RSUs/PRSUs), F = shares surrendered for tax liability, A = grant/award.
• The tax-withholding surrender is a routine administrative action to satisfy tax obligations and does not necessarily indicate a change in insider sentiment.