Eastern Bankshares (EBC) officer reports RSU grant, conversions and tax share use

Rhea-AI Filing Summary

Eastern Bankshares, Inc. SVP and Chief Accounting Officer David Andrew Ahlquist reported several equity compensation moves. He received a grant of 4,540 restricted stock units, which each represent a right to one EBC common share, vesting annually over three years starting March 2, 2027, subject to continued service. He also exercised previously granted restricted stock units into 3,653 shares of common stock and used 1,266 shares, valued at $19.56 each, to satisfy tax withholding. After these transactions, he directly held 11,905 common shares, with additional indirect holdings through a 401(k) and an ESOP as of the report date.

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^*

Ahlquist David Andrew

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Chief Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/01/2026

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	03/01/2026		M		3,653(1)	A	$0	13,171	D
Common Stock	03/01/2026		F		1,266	D	$19.56	11,905	D
Common Stock								22,682	I(2)	By 401(k)
Common Stock								4,921	I(2)	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)	03/01/2026		M			1,457	(4)	(4)	Common stock	1,457	$0	0	D
Restricted Stock Units	(1)	03/01/2026		M			2,196	(5)	(5)	Common stock	2,196	$0	2,197	D
Restricted Stock Units	(1)							(6)	(6)	Common stock	4,903		4,903	D
Restricted Stock Units	(3)	03/02/2026		A		4,540		(6)	(6)	Common stock	4,540	$0	4,540	D

Explanation of Responses:

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

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

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

4. On March 1, 2023, the reporting person was granted 4,368 restricted stock units that vested in three equal annual installments beginning March 1, 2024, subject to continued service.

5. On March 1, 2024, the reporting person was granted 6,588 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.

6. On March 2, 2026, the reporting person was granted 4,540 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.

	/s/ Kathleen R. Henry, by Power of Attorney	03/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What equity awards did EBC officer David Andrew Ahlquist receive in this Form 4?

David Andrew Ahlquist received a grant of 4,540 restricted stock units. Each unit represents a contingent right to one Eastern Bankshares (EBC) common share, vesting in three equal annual installments starting March 2, 2027, subject to his continued service with the company.

How many Eastern Bankshares (EBC) shares did Ahlquist acquire through RSU exercises?

Ahlquist exercised restricted stock units into 3,653 shares of Eastern Bankshares common stock. These exercises reflect conversion of previously granted RSUs that had vested, consistent with earlier awards described in the footnotes, and increased his directly held common share position before tax withholding.

Did Ahlquist dispose of any Eastern Bankshares (EBC) shares in this filing?

Yes. Ahlquist disposed of 1,266 Eastern Bankshares common shares at $19.56 per share. The filing classifies this as a tax-withholding transaction, where shares are delivered to cover tax liabilities arising from equity compensation rather than an open-market sale.

What are Ahlquist’s direct Eastern Bankshares (EBC) common stock holdings after these transactions?

After the reported transactions, Ahlquist directly held 11,905 Eastern Bankshares common shares. This figure reflects the net result of RSU conversions into common stock and the share disposition used to satisfy related tax obligations on the vesting and exercises.

What indirect Eastern Bankshares (EBC) holdings does Ahlquist report?

Ahlquist reports indirect ownership of Eastern Bankshares common stock through retirement and benefit plans. As of the report date, he held 22,682 shares via a 401(k) plan and 4,921 shares via an ESOP, in addition to his directly held common shares and restricted stock units.

How do the restricted stock units reported by Ahlquist convert into Eastern Bankshares (EBC) shares?

The restricted stock units convert into Eastern Bankshares common stock on a one-for-one basis. Each RSU represents a contingent right to receive one share on the applicable vesting date, with shares issued as soon as practicable after vesting, subject to continued service conditions.