Eastern Bankshares (EBC) CEO awarded 24,340 RSUs, tiny fractional sale

Rhea-AI Filing Summary

Eastern Bankshares, Inc. reported that Chief Executive Officer Denis K. Sheahan received a grant of 24,340 restricted stock units on March 2, 2026 at no cost. These RSUs vest in three equal annual installments beginning on March 2, 2027, and each unit converts into one share of common stock when it vests.

The filing also shows an earlier open-market sale of 1 share of common stock at $13.85 on September 16, 2025, executed in an IRA account associated with the reporting person. A footnote explains this was the sale of a fractional share by the transfer agent in connection with a transfer to a brokerage account.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

SHEAHAN DENIS K

(Last) (First) (Middle)

125 HIGH STREET

(Street)

BOSTON MA 02110

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2025

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock								250,781	I	By Revocable Trust
Common Stock	09/16/2025		S		1(12)	D	$13.85	33,305	I	By IRA
Common Stock								889	I(13)	By ESOP

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)(2)							(3)	(3)	Common stock	3,232		3,232	D
Restricted Stock Units	(1)(2)							(4)	(4)	Common stock	11,241		11,241	D
Restricted Stock Units	(1)(2)							(5)	(5)	Common stock	34,544		34,544	D
Restricted Stock Units	(1)(2)							(6)	(6)	Common stock	33,721		33,721	D
Restricted Stock Units	(1)(2)							(7)	(7)	Common stock	42,221		42,221	D
Restricted Stock Units	(8)							(9)	(9)	Common stock	25,821		25,821	D
Restricted Stock Units	(8)							(10)	(10)	Common stock	154,088		154,088	D
Restricted Stock Units	(8)	03/02/2026		A		24,340		(11)	(11)	Common stock	24,340	$0	24,340	D

Explanation of Responses:

1. Eastern Bankshares, Inc. (the "Company") issued these time-based restricted stock units ("RSUs") as of July 12, 2024, when the Company completed a merger with Cambridge Bancorp ("Cambridge"). Pursuant to the terms of the Agreement and Plan of Merger, dated September 19, 2023, Cambridge RSUs and performance-based restricted stock units ("PRSUs") were assumed and converted to Company RSUs at an exchange ratio of 4.956 Company units for each Cambridge unit.

2. Restricted stock units convert into common stock on a one-for-one basis.

3. This award for 3,232 Company RSUs replaced an award of Cambridge RSUs granted to the reporting person on February 15, 2021, that vested in three equal annual installments beginning one year after the grant date. The reporting person elected to defer receipt of common stock issuable upon the vesting of these RSUs.

4. This award for 11,241 Company RSUs replaced an award of Cambridge RSUs granted to the reporting person on February 15, 2022, that provided for vesting in three equal annual installments beginning one year after the grant date. The final tranche of this Company RSU award vested on February 15, 2025. The reporting person elected to defer receipt of common stock issuable upon vesting except for shares withheld for tax obligations.

5. This award for 34,544 Company RSUs replaced an award of Cambridge RSUs granted to the reporting person on April 28, 2023, that provided for vesting in three equal annual installments beginning one year after the grant date. Subject to continued service, the remaining tranches will vest on April 28 of 2025 and 2026, respectively. The reporting person elected to defer receipt of common stock issuable upon vesting except for shares withheld for tax obligations.

6. This award for 33,721 Company RSUs replaced an award of Cambridge PRSUs granted to the reporting person on February 15, 2022. The Company RSU award provided for cliff vesting on December 31, 2024. The reporting person elected to defer receipt of common stock issuable upon vesting except for shares withheld for tax obligations.

7. This award for 42,221 Company RSUs replaced an award of Cambridge PRSUs that Cambridge granted to the reporting person on April 28, 2023. Subject to continued service, the Company RSU award provides for cliff vesting on December 31, 2025. The reporting person elected to defer receipt of common stock issuable upon vesting except for shares withheld for tax obligations.

8. Each restricted stock unit represents a contingent right to receive one share of Company common stock on the applicable vesting date.

9. On September 3, 2024, the reporting person was granted 25,821 restricted stock units that vest in three equal annual installments beginning September 3, 2025, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.

10. On March 3, 2025, the reporting person was granted 154,088 restricted stock units of which 24,365 vest in three equal annual installments beginning March 3, 2026 and 129,723 vest in five equal installments beginning on March 3, 2026, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.

11. On March 2, 2026, the reporting person was granted 24,340 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.

12. Sale of fractional shares by transfer agent in connection with the transfer of shares to a brokerage account.

13. Reflects the amount of shares beneficially owned, including shares received due to automatic dividend reinvestment, as of the date of this report.

	/s/ Kathleen R. Henry, by Power of Attorney	03/03/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transactions did Eastern Bankshares (EBC) report for Denis K. Sheahan?

Eastern Bankshares reported a grant of 24,340 restricted stock units to CEO Denis K. Sheahan on March 2, 2026, plus an earlier sale of 1 common share at $13.85 on September 16, 2025, from an IRA account as a fractional share adjustment.

How do Denis K. Sheahan’s new Eastern Bankshares (EBC) RSUs vest?

The 24,340 restricted stock units granted to Denis K. Sheahan vest in three equal annual installments starting March 2, 2027. Each vested unit converts into one share of Eastern Bankshares common stock, with shares issued as soon as practicable after each vesting date.

What price was received in the Eastern Bankshares (EBC) fractional share sale?

The filing shows a sale of 1 share of Eastern Bankshares common stock at $13.85 on September 16, 2025. A footnote clarifies this was a transfer agent sale of a fractional share linked to moving shares into a brokerage account.

Are Denis K. Sheahan’s Eastern Bankshares (EBC) RSUs settled in stock?

Yes. Footnotes state each restricted stock unit represents a contingent right to receive one share of Eastern Bankshares common stock. Shares are delivered upon vesting, generally as soon as practicable after the applicable vesting date described in the award terms.

What other Eastern Bankshares (EBC) RSU awards to Denis K. Sheahan are described?

The footnotes describe multiple RSU and PRSU awards assumed from Cambridge Bancorp and later Eastern Bankshares grants, including prior awards for 3,232, 11,241, 34,544, 33,721, 42,221, 25,821 and 154,088 RSUs, each with specified vesting schedules and deferral elections on share receipt.

How are Denis K. Sheahan’s indirect Eastern Bankshares (EBC) holdings structured?

The data show indirect ownership of common stock through an IRA, a revocable trust, and an ESOP. For example, one line lists 250,781 common shares held by a revocable trust and another lists 889 shares held through an ESOP, reflecting different indirect ownership vehicles.