Eastern Bankshares counsel sells 14,000 shares
Eastern Bankshares’ Executive VP and General Counsel reported a 14,000‑share open-market sale and updated direct and plan-based holdings.
Rhea-AI Filing Summary
Eastern Bankshares, Inc. (EBC) executive officer Kathleen Cloherty, Executive VP and General Counsel, reported selling 14,000 shares of common stock on September 2, 2026 at an average price between $21.68 and $21.69 per share. After this sale, she holds 43,146 shares directly and an additional 34,018 shares indirectly through a 401(k) and ESOP.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 14,000 shares
Net Sell
3 txns
Insider
Henry Kathleen Cloherty
Role
Executive VP, General Counsel
Sold
14,000 shs ($304K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock F1 | 14,000 | $21.68 | $304K |
| holding | Common Stock F2 | -- | -- | -- |
| holding | Common Stock F2 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 43,146 shares (Direct);
Common Stock — 29,028 shares (Indirect, By 401(k));
Common Stock — 4,990 shares (Indirect, By ESOP)
Footnotes (2)
- F1. Represents the average sale price. The actual sale prices range from $21.68 to $21.69 per share. The reporting person will supply the SEC, the Issuer, or a security holder of the Issuer, with full information regarding the number of shares at each price upon request.
- F2. Reflects the amount of shares beneficially owned, including shares received due to automatic dividend reinvestment, as of the date of this report.
Key Figures
Shares sold: 14,000 shares
Average sale price: $21.68 per share
Direct holdings after transaction: 43,146 shares
+3 more
6 metrics
Shares sold
14,000 shares
Common stock sale reported for September 2, 2026
Average sale price
$21.68 per share
Weighted average for 14,000 shares sold; actual prices $21.68–$21.69
Direct holdings after transaction
43,146 shares
Directly owned common stock after September 2, 2026 sale
Indirect 401(k) holdings
29,028 shares
Indirect beneficial ownership via 401(k) as of report date
Indirect ESOP holdings
4,990 shares
Indirect beneficial ownership via ESOP as of report date
Net shares sold
14,000 shares
Net insider activity in this filing is a net sale
Key Terms
beneficially owned, automatic dividend reinvestment, ESOP, 401(k)
4 terms
beneficially owned financial
"Reflects the amount of shares beneficially owned, including shares received"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
automatic dividend reinvestment financial
"including shares received due to automatic dividend reinvestment, as of"
ESOP financial
"Indirect ownership nature reported as By ESOP for 4,990 shares"
An Employee Stock Ownership Plan (ESOP) is a program that gives employees ownership shares in their company, often as part of their benefits package. It acts like a company-sponsored savings plan, allowing workers to have a stake in the company's success, which can boost motivation and loyalty. For investors, ESOPs can influence company decisions and stock value, making them an important aspect of corporate ownership and governance.
401(k) financial
"Indirect ownership nature reported as By 401(k) for 29,028 shares"
A 401(k) is a type of retirement savings plan offered by employers that allows workers to set aside a portion of their paycheck before taxes are taken out. The money saved in a 401(k) can grow over time through investments, helping individuals build funds for their future retirement. It matters to investors because it provides a tax-advantaged way to save and invest for long-term financial security.
FAQ
What insider transaction did EBC report for Executive VP and General Counsel Kathleen Cloherty?
Cloherty reported a sale of 14,000 shares of Eastern Bankshares, Inc. common stock on September 2, 2026, described as a sale in an open market or private transaction, at an average price between $21.68 and $21.69 per share.
What indirect holdings in EBC stock does Kathleen Cloherty report?
Cloherty reports indirect beneficial ownership of 29,028 shares of Eastern Bankshares, Inc. common stock through a 401(k) plan and 4,990 shares through an ESOP. A footnote notes these amounts include shares received by automatic dividend reinvestment.
Was the EBC insider sale made under a Rule 10b5-1 trading plan?
The filing indicates the Rule 10b5-1 checkbox is not affirmed for this report. No footnote states that the transactions were made under a Rule 10b5-1 or other pre-arranged trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
