Eastern Bankshares (EBC) president exercises RSUs, with 2,493 shares withheld for taxes

Rhea-AI Filing Summary

Eastern Bankshares, Inc. President Quincy Lee exercised 5,621 restricted stock units into common stock on March 3, 2026, converting them one-for-one into shares at $0.00 per share. To cover tax obligations, 2,493 common shares were disposed of at $19.45 per share through share withholding. Following these transactions, Lee directly held 66,538 common shares, plus additional common stock and restricted stock units through direct and indirect holdings, including 401(k), IRA, spouse IRA, and ESOP accounts.

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^*

Miller Quincy Lee

(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)
	President

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

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	03/03/2026		M		5,621(1)	A	$0	69,031	D
Common Stock	03/03/2026		F		2,493	D	$19.45	66,538	D
Common Stock								13,900	I	By 401(k)
Common Stock								83,240	I	By IRA
Common Stock								1,280	I	By Spouse in IRA
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)							(3)	(3)	Common stock	14,232		14,232	D
Restricted Stock Units	(1)							(4)	(4)	Common stock	7,063		7,063	D
Restricted Stock Units	(1)	03/03/2026		M			5,621	(5)	(5)	Common stock	5,621	$0	11,243	D
Restricted Stock Units	(1)							(6)	(6)	Common stock	15,162		15,162	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. On March 1, 2022, the reporting person was granted 71,157 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.

4. On March 1, 2024, the reporting person was granted 21,186 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.

5. On March 3, 2025, the reporting person was granted 16,864 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.

6. On March 2, 2026, the reporting person was granted 15,162 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	03/05/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider transactions did Eastern Bankshares (EBC) report for Quincy Lee?

Eastern Bankshares reported that President Quincy Lee exercised 5,621 restricted stock units into common stock and had 2,493 common shares withheld at $19.45 per share to satisfy tax obligations on March 3, 2026.

How many Eastern Bankshares (EBC) RSUs did Quincy Lee convert and at what rate?

Quincy Lee converted 5,621 restricted stock units of Eastern Bankshares into common stock on a one-for-one basis. The transaction was recorded at a price of $0.00 per share, reflecting a non-cash derivative exercise or conversion.

How many Eastern Bankshares (EBC) shares were used for Quincy Lee’s tax withholding?

To satisfy tax liabilities related to the RSU conversion, 2,493 common shares of Eastern Bankshares were disposed of at $19.45 per share. This was characterized as a tax-withholding disposition, not an open-market sale by Quincy Lee.

What is Quincy Lee’s direct common stock ownership in Eastern Bankshares (EBC) after the transactions?

After the March 3, 2026 transactions, Quincy Lee directly held 66,538 shares of Eastern Bankshares common stock. This total reflects the RSU conversion and the tax-withholding share disposition recorded in the Form 4 filing.

What indirect Eastern Bankshares (EBC) holdings are reported for Quincy Lee?

Indirectly, Quincy Lee is reported as holding Eastern Bankshares common stock through a 401(k) with 13,900 shares, an IRA with 83,240 shares, a spouse’s IRA with 1,280 shares, and an ESOP with 4,921 shares.

How many restricted stock units of Eastern Bankshares (EBC) does Quincy Lee hold after this Form 4?

Following the reported activity, Quincy Lee held several RSU positions: 14,232 units, 7,063 units, and 15,162 units. These grants vest in annual installments on future March vesting dates, subject to continued service, with vested units converting into common shares.