[Form 4] Brookline Bancorp Inc Insider Trading Activity
Rhea-AI Filing Summary
Mark J. Meiklejohn, Chief Credit Officer of Brookline Bancorp Inc. (BRKL), reported a disposition of 101,003 common shares on 09/01/2025. The Form 4 shows the sale was not a market trade but resulted from the merger implementation: each Brookline share was converted into the right to receive 0.42 shares of Berkshire Hills Bancorp, Inc. common stock, with cash paid in lieu for any fractional shares. Following the reported transaction the filing lists 0 shares beneficially owned by the reporting person. The form is signed by Mark J. Meiklejohn via power of attorney on 09/02/2025.
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Insights
TL;DR: Insider ownership in BRKL converted into Berkshire Hills stock under merger; 101,003 BRKL shares disposed on 09/01/2025.
The Form 4 documents a non-market disposition of 101,003 Brookline shares due to the merger exchange described in the explanatory note. The filing explicitly states the conversion rate of 0.42 Berkshire shares per Brookline share and cash in lieu for fractional shares. This is a post-closing mechanics filing rather than a voluntary sale, and the reporter’s beneficial position is shown as 0 shares following the transaction. For analysts, this is a clear record of ownership conversion tied to a corporate transaction rather than a signal of independent trading intent.
TL;DR: Form 4 records mandatory conversion under merger; no remaining Brookline holdings reported by the officer.
The submission identifies Mark J. Meiklejohn as an officer (Chief Credit Officer) and records disposition of all reported Brookline common shares through the merger mechanism. The explanatory remarks reference the Agreement and Plan of Merger with Berkshire Hills Bancorp, Inc., specifying the 0.42 share conversion and cash for fractional interests. From a governance perspective, this filing documents organizational ownership changes resulting from a completed corporate action and shows proper disclosure timing with a signature via power of attorney dated 09/02/2025.