Eastern Bankshares (NASDAQ: EBC) CIO exercises RSUs, withholds 961 shares for taxes
Rhea-AI Filing Summary
Eastern Bankshares, Inc. Chief Information Officer Donald Michael Westermann exercised 2,165 restricted stock units into the same number of shares of common stock on March 3, 2026, at a stated price of $0.0000 per share. To cover tax obligations related to this award, 961 shares of common stock were disposed of at $19.4500 per share as a tax-withholding transaction.
After these transactions, he held 32,972 shares of common stock directly as of the report date, along with indirect holdings of 22,682 shares by a 401(k) and 4,921 shares by an ESOP. He also held restricted stock units that convert into common stock on a one-for-one basis, including awards originally granted on March 1, 2022, March 1, 2024, March 3, 2025, and March 2, 2026, each vesting in scheduled installments subject to continued service.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 2,165 | $0.00 | -- |
| Exercise | Common Stock | 2,165 | $0.00 | -- |
| Tax Withholding | Common Stock | 961 | $19.45 | $19K |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Restricted stock units convert into common stock on a one-for-one basis. Reflects the amount of shares beneficially owned, including shares received due to automatic dividend reinvestment, as of the date of this report. On March 1, 2022, the reporting person was granted 47,438 restricted stock units that vest in five equal annual installments beginning March 1, 2023, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date. On March 1, 2024, the reporting person was granted 8,683 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. On March 3, 2025, the reporting person was granted 34,697 restricted stock units of which 6,497 vest in three equal annual installments beginning March 3, 2026, after market close, and 28,200 vest after 3 years, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date. On March 2, 2026, the reporting person was granted 7,099 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.
