Eastern Bankshares (EBC) CIO logs new RSU grants and tax share withholdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Eastern Bankshares, Inc. Chief Information Officer Donald Michael Westermann reported multiple equity transactions involving restricted stock units and common stock. On March 2, 2026, he received a grant of 7,099 restricted stock units that vest in three equal annual installments beginning March 2, 2027.
On March 1, 2026, several restricted stock unit awards were exercised or converted, resulting in the acquisition of 14,359 shares of common stock. On the same date, 6,522 and 2,449 common shares were withheld at $19.56 per share to cover tax liabilities. He also received a grant of 5,520 common shares and holds additional common stock indirectly through a 401(k) plan and an ESOP.
Positive
- None.
Negative
- None.
Insider Trade Summary
14,359 shares exercised/converted
Mixed
11 txns
Insider
Westermann Donald Michael
Role
Chief Information Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 7,099 | $0.00 | -- |
| Exercise | Restricted Stock Units | 9,488 | $0.00 | -- |
| Exercise | Restricted Stock Units | 1,977 | $0.00 | -- |
| Exercise | Restricted Stock Units | 2,894 | $0.00 | -- |
| Exercise | Common Stock | 14,359 | $0.00 | -- |
| Tax Withholding | Common Stock | 6,522 | $19.56 | $128K |
| Grant/Award | Common Stock | 5,520 | $0.00 | -- |
| Tax Withholding | Common Stock | 2,449 | $19.56 | $48K |
| holding | Restricted Stock Units | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 7,099 shares (Direct);
Common Stock — 35,219 shares (Direct);
Common Stock — 22,682 shares (Indirect, By 401(k))
Footnotes (1)
- Restricted stock units convert into common stock on a one-for-one basis. Reflects the amount of shares beneficially owned, including shares received due to automatic dividend reinvestment, as of the date of this report. Each restricted stock unit represents a contingent right to receive one share of EBC common stock on the applicable vesting date. 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. On March 1, 2023, the reporting person was granted 5,930 restricted stock units that vest in three equal annual installments beginning March 1, 2024, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date. On March 1, 2024, the reporting person was granted 8,683 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. On March 3, 2025, the reporting person was granted 34,697 restricted stock units of which 6,497 vest in three equal annual installments beginning March 3, 2026 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. On March 2, 2026, the reporting person was granted 7,099 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. Represents shares of Eastern Bankshares, Inc. (the "Company") common stock, par value $0.01 per share ("Common Stock") received upon vesting of a performance restricted stock unit ("PRSU") award eligible to vest based upon the Company's performance on total shareholder return ("TSR") measured at the end of the three-year performance period of January 1, 2023 through December 31, 2025 (the "Performance Period") relative to TSR performance over that performance period of the banks listed on the KBW Nasdaq Regional Banking Index (the "TSR Measure"). The Compensation and Human Capital Management Committee determined that the Company's performance of the TSR Measure resulted in a payout of 93.1% of target.
