Eastern Bankshares exec exercises RSUs, withholds shares
Accepted by SEC EDGAR
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Form Type
4
Rhea-AI Filing Summary
Eastern Bankshares Executive VP Steven Louis Antonakes reported equity award activity in Eastern Bankshares, Inc. He exercised 1,654 restricted stock units into an equal number of common shares at $0.00 per share and had 486 common shares withheld at $19.45 per share to cover tax obligations. Following these transactions, he directly holds 75,290 common shares and 31,509 restricted stock units, with additional indirect common share holdings through a 401(k) plan and an ESOP.
Insider Trade Summary
1,654 shares exercised/converted
Exercise
3 txns
Insider
Antonakes Steven Louis
Role
Executive VP
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 1,654 | $0.00 | $0.00 |
| Exercise | Common Stock | 1,654 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 486 | $19.45 | $9K |
| Holding | Restricted Stock Units | -- | -- | -- |
| Holding | Restricted Stock Units | -- | -- | -- |
| Holding | Restricted Stock Units | -- | -- | -- |
| Holding | Common Stock | -- | -- | -- |
| Holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 47,440 contracts for 15,931 underlying shares (Direct);
Common Stock — 75,290 shares (Direct);
Common Stock — 13,109 shares (Indirect, By 401(k));
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. Reflects the amount of shares beneficially owned, including shares received due to automatic dividend reinvestment, as of the date of this report.
- F3. On March 1, 2022, the reporting person was granted 47,438 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.
- F4. On March 1, 2024, the reporting person was granted 5,439 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.
- F5. On March 3, 2025, the reporting person was granted 33,163 restricted stock units of which 4,963 vest in three equal annual installments beginning March 3, 2026, after market close, and 28,200 vest after 3 years, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.
- F6. On March 2, 2026, the reporting person was granted 4,629 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.
- F7. The reporting person's immediately preceding Form 4, filed on March 3, 2026, inadvertently understated the amount of securities beneficially owned following reported transaction(s) by 920 common shares. The understatement was the net effect of two clerical errors. The first was an understatement of 20 shares in the disclosure of directly owned shares disposed of for tax withholding, resulting in an overstatement of 20 shares beneficially owned. To clarify, the Form 4 filed on March 3, 2026 should have disclosed that a total of 3,955 directly owned shares were disposed of for tax withholding (not 3,935 shares). The second clerical error was the omission of 940 directly held shares that had been previously been reported as acquired. The net of these transactions was an understatement of 920 common shares. The amount shown in this table corrects those two inadvertent clerical errors.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did EBC Executive VP Steven Louis Antonakes report?
Steven Louis Antonakes reported exercising 1,654 restricted stock units into common stock and a related tax-withholding disposition of 486 common shares at $19.45. These changes reflect routine equity award activity, not an open-market purchase or sale of Eastern Bankshares, Inc. stock.
Does the EBC Form 4 show any indirect ownership for the reporting person?
Yes. The Form 4 shows indirect ownership of Eastern Bankshares common stock through retirement and employee plans. He beneficially owns 13,109 common shares through a 401(k) plan and 4,921 common shares through an ESOP, in addition to his directly held shares and restricted stock units.
Did the Form 4 for EBC mention any correction to previously reported holdings?
A footnote explains that the immediately preceding Form 4 understated beneficially owned common shares by 920 due to two clerical errors. The current ownership figures in this report correct those errors, aligning the disclosed share counts with the insider’s actual previously reported acquisitions and tax dispositions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
