Eastern Bankshares director exercises 50,000 share option
Eastern Bankshares, Inc. director Michael James Sullivan exercised a stock option for 50,000 shares on February 27, 2026.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
Eastern Bankshares, Inc. director Michael James Sullivan exercised a stock option for 50,000 shares on February 27, 2026. He converted a Stock Option (Right to Buy) into 50,000 shares of common stock at an exercise price of $13.38 per share.
Following the transaction, his directly held common stock totaled 128,323 shares. Indirectly, 707 shares are held by Double Eagle LLC and 711 shares are held in a rollover 401(k), as of the same date. The option exercise deadline arose from the merger of HarborOne into Eastern, which required exercise no later than May 1, 2026.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) | 50,000 | $0.00 | $0.00 |
| Exercise | Common Stock | 50,000 | $13.38 | $669K |
| Holding | Common Stock | -- | -- | -- |
| Holding | Common Stock | -- | -- | -- |
Footnotes (1)
- F1. 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, upon the merger of HarborOne into Eastern, effective November 1, 2025, the stock option must be exercised no later than May 1, 2026 (i.e., six (6) months from the time reporting person's employment as a director of HarborOne was terminated).
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
AI-generated analysis. How Rhea-AI works. Not financial advice.
