[Form 3] Eastern Bankshares, Inc. Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Eastern Bankshares (EBC) reported an initial statement of beneficial ownership by a director following the HarborOne merger effective November 1, 2025. The merger consideration allowed each HarborOne share to elect either $12.00 in cash or 0.765 shares of Eastern common stock, subject to proration.

The filing lists 36,112 common shares held directly, plus indirect holdings including 107,160 by spouse and 83,962 by trust, along with IRA, ESOP, and 401(k) positions. Converted stock options now cover 118,947 shares at $11.74, 101,912 at $12.8, and 101,912 at $13.38. Per the merger agreement, these options must be exercised no later than February 1, 2026.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

CASEY JOSEPH F

(Last) (First) (Middle)

125 HIGH STREET

(Street)

BOSTON MA 02110

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
11/01/2025

3. Issuer Name and Ticker or Trading Symbol
Eastern Bankshares, Inc. [ EBC ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	36,112(1)	D
Common Stock	107,160(1)	I	By Spouse
Common Stock	83,962(1)	I	By Trust
Common Stock	19,732(1)	I	Rollover IRA
Common Stock	24,772(1)	I	Traditional IRA
Common Stock	11,704(1)	I	ESOP
Common Stock	43,192(1)	I	401(k)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	(2)	(2)	Common Stock	118,947(3)	$11.74(4)	D
Stock Option (Right to Buy)	(2)	(2)	Common Stock	101,912(3)	$12.8(4)	D
Stock Option (Right to Buy)	(2)	(2)	Common Stock	101,912(3)	$13.38(4)	D

Explanation of Responses:

1. Pursuant to the terms of the Agreement and Plan of Merger dated April 24, 2025 among Eastern Bankshares, Inc. ("Eastern"), Eastern Bank, HarborOne Bancorp, Inc. (HarborOne"), and HarborOne Bank (the "Merger Agreement"), upon the merger of HarborOne into Eastern, effective November 1, 2025 (the "Merger"), each share of HarborOne common stock was converted into the right to receive, at the election of the holder, either (i) $12.00 in cash or (ii) 0.765 shares of Eastern common stock (the "Exchange Ratio"), subject to certain proration provisions contained in the Merger Agreement.

2. Pursuant to the terms of the Merger Agreement, the stock option must be exercised within no later than February 1, 2026 (i.e., three (3) months from the time reporting person's employment as an executive of HarborOne was terminated).

3. Pursuant to the Merger Agreement, each outstanding and unexercised option to purchase shares of HarborOne common stock was converted into an option to purchase shares of Eastern common stock by multiplying the number of shares by the Exchange Ratio (rounded down to the nearest whole share).

4. Pursuant to the Merger Agreement, the exercise price per share of each converted option was determined by dividing the exercise price of the HarborOne stock option by the Exchange Ratio (rounded up to the nearest whole cent).

	/s/ Kathleen R. Henry, by Power of Attorney	11/10/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did EBC’s Form 3 disclose?

It disclosed a director’s initial beneficial ownership, including direct and indirect common stock holdings and converted stock options after the HarborOne merger.

What merger election terms were noted for EBC (EBC)?

Each HarborOne share could elect either $12.00 in cash or 0.765 EBC shares, subject to proration.

What direct and indirect EBC share holdings were reported?

Direct common stock: 36,112 shares; examples of indirect: 107,160 by spouse and 83,962 by trust, plus IRA, ESOP, and 401(k) positions.

What EBC stock options were listed and at what prices?

Options for 118,947 shares at $11.74, 101,912 at $12.8, and 101,912 at $13.38.

When must the converted EBC options be exercised?

No later than February 1, 2026, per the merger agreement.

What triggered the Form 3 for EBC (EBC)?

The effective date of the HarborOne merger on November 1, 2025 and the reporting person’s director status.

Is the reporting person a 10% owner of EBC?

No. The filing indicates the person is a Director, not a 10% owner.