Eastern Bankshares CIO sells 33,412 shares
Rhea-AI Filing Summary
Eastern Bankshares, Inc. (EBC) reports that Chief Information Officer Donald Michael Westermann sold a total of 33,412 shares of common stock on September 1, 2026 in open-market or private transactions, and continues to hold shares both directly and through an employee stock ownership plan.
Positive
- None.
Negative
- None.
Insights
Analyzing...
Insider Trade Summary
Net Seller: 33,412 shares
Net Sell
3 txns
Insider
Westermann Donald Michael
Role
Chief Information Officer
Sold
33,412 shs ($720K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 10,407 | $21.77 | $227K |
| Sale | Common Stock F1 | 23,005 | $21.43 | $493K |
| holding | Common Stock F1 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 22,565 shares (Direct);
Common Stock — 0 shares (Indirect, By 401(k));
Common Stock — 4,990 shares (Indirect, By ESOP)
Footnotes (1)
- F1. Reflects the amount of shares beneficially owned, including shares received due to automatic dividend reinvestment, as of the date of this report.
Key Figures
Shares sold (total): 33,412 shares
Direct sale: 10,407 shares at $21.77 per share
401(k) sale: 23,005 shares at $21.43 per share
+2 more
5 metrics
Shares sold (total)
33,412 shares
Common stock sold by CIO Donald Michael Westermann on September 1, 2026
Direct sale
10,407 shares at $21.77 per share
Direct holdings of Eastern Bankshares common stock sold on September 1, 2026
401(k) sale
23,005 shares at $21.43 per share
Indirect holdings via 401(k) sold on September 1, 2026
Direct holdings after transactions
22,565 shares
Common stock directly owned by the CIO after the September 1, 2026 sales
Indirect ESOP holdings after transactions
4,990 shares
Common stock indirectly owned via ESOP after the reported transactions
Key Terms
Rule 10b5-1 plan, beneficially owned, automatic dividend reinvestment, ESOP, +1 more
5 terms
Rule 10b5-1 plan regulatory
"The filing indicates the Rule 10b5-1 checkbox is not affirmed"
A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.
beneficially owned financial
"Reflects the amount of shares beneficially owned, including shares received"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
automatic dividend reinvestment financial
"including shares received due to automatic dividend reinvestment"
ESOP financial
"Indirect holdings are reported through a 401(k) plan and an ESOP"
An Employee Stock Ownership Plan (ESOP) is a program that gives employees ownership shares in their company, often as part of their benefits package. It acts like a company-sponsored savings plan, allowing workers to have a stake in the company's success, which can boost motivation and loyalty. For investors, ESOPs can influence company decisions and stock value, making them an important aspect of corporate ownership and governance.
401(k) financial
"Indirect holdings are reported through a 401(k) plan and an ESOP"
A 401(k) is a type of retirement savings plan offered by employers that allows workers to set aside a portion of their paycheck before taxes are taken out. The money saved in a 401(k) can grow over time through investments, helping individuals build funds for their future retirement. It matters to investors because it provides a tax-advantaged way to save and invest for long-term financial security.
FAQ
What insider transactions did EBC’s Chief Information Officer report on this Form 4?
The Chief Information Officer, Donald Michael Westermann, reported selling 33,412 shares of Eastern Bankshares common stock on September 1, 2026 in two open-market or private sale transactions and updated his remaining direct and plan-based holdings.
Were the EBC insider sales made under a Rule 10b5-1 trading plan?
No. The filing indicates the Rule 10b5-1 checkbox is not affirmed, and there is no footnote stating that the September 1, 2026 transactions were executed under a Rule 10b5-1 or other pre-arranged trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
