Eastern Bankshares chair exercises 11,223 RSUs
Eastern Bankshares, Inc. Executive Chair Robert Francis Rivers exercised 11,223 restricted stock units into common stock on March 3, 2026, at a conversion price of $0 per share; the units convert into common stock on a one-for-one basis.
Rhea-AI Filing Summary
Eastern Bankshares, Inc. Executive Chair Robert Francis Rivers exercised 11,223 restricted stock units into common stock on March 3, 2026, at a conversion price of $0 per share; the units convert into common stock on a one-for-one basis.
To satisfy tax obligations, 5,427 common shares were withheld at $19.45 per share. After these transactions, he directly holds 458,282 shares of common stock and 92,632 restricted stock units, plus 4,921 shares held indirectly through an ESOP, with holdings including shares acquired via automatic dividend reinvestment.
Positive
- None.
Negative
- None.
Insider Trade Summary
11,223 shares exercised/converted
Exercise
7 txns
Insider
Rivers Robert Francis
Role
Executive Chair
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 11,223 | $0.00 | $0.00 |
| Exercise | Common Stock | 11,223 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 5,427 | $19.45 | $106K |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 92,632 contracts for 70,184 underlying shares (Direct);
Common Stock — 458,282 shares (Direct);
Common Stock — 4,921 shares (Indirect, By ESOP)
Footnotes (7)
- F1. Restricted stock units convert into common stock on a one-for-one basis.
- F2. Includes 200,000 shares held in joint tenancy with spouse.
- F3. Reflects the amount of shares beneficially owned, including shares received due to automatic dividend reinvestment, as of the date of this report.
- F4. On March 1, 2022, the reporting person was granted 106,736 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.
- F5. On March 1, 2024, the reporting person was granted 46,604 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.
- F6. On March 3, 2025, the reporting person was granted 33,671 restricted stock units that vest in three equal annual installments beginning March 3, 2026, after market close, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.
- F7. On March 2, 2026, the reporting person was granted 33,301 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.
Key Figures
RSUs exercised: 11,223 shares
Shares withheld for taxes: 5,427 shares at $19.45 per share
Direct common stock holdings: 458,282 shares
+2 more
5 metrics
RSUs exercised
11,223 shares
Restricted stock units converted into common stock on March 3, 2026
Shares withheld for taxes
5,427 shares at $19.45 per share
Common stock withheld to cover tax obligations on March 3, 2026
Direct common stock holdings
458,282 shares
Directly held by Robert Francis Rivers after the reported transactions
Restricted stock unit holdings
92,632 units
Post-transaction RSUs held directly
Indirect ESOP holdings
4,921 shares
Common stock held indirectly through an ESOP
Key Terms
Restricted Stock Units, tax-withholding disposition, automatic dividend reinvestment, joint tenancy with spouse
4 terms
Restricted Stock Units financial
"Restricted stock units convert into common stock on a one-for-one basis."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax-withholding disposition financial
"Payment of exercise price or tax liability by delivering securities"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
automatic dividend reinvestment financial
"including shares received due to automatic dividend reinvestment"
joint tenancy with spouse financial
"Includes 200,000 shares held in joint tenancy with spouse."
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