Eastern Bankshares (EBC) SVP converts RSUs, withholds shares for tax

Rhea-AI Filing Summary

Eastern Bankshares, Inc. senior vice president and chief accounting officer David Andrew Ahlquist reported equity awards activity. Restricted stock units converted into 1,634 shares of common stock, matching the one-for-one RSU-to-share ratio, and 567 common shares were withheld at $19.45 per share to cover tax obligations. After these transactions, he held 12,972 shares of common stock directly, plus additional indirect holdings through a 401(k) plan and an ESOP, along with multiple blocks of unvested restricted stock units scheduled to vest in three equal annual installments, subject to continued service.

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)
03/03/2026

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		1,634(1)	A	$0	13,539	D
Common Stock	03/03/2026		F		567	D	$19.45	12,972	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)							(3)	(3)	Common stock	2,197		2,197	D
Restricted Stock Units	(1)	03/03/2026		M			1,634	(4)	(4)	Common stock	1,634	$0	3,269	D
Restricted Stock Units	(1)							(5)	(5)	Common stock	4,540		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. 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.

4. On March 3, 2025, the reporting person was granted 4,903 restricted stock units that vest in three equal annual installments beginning March 3, 2026, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.

5. 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	03/05/2026
	** 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 insider transactions did EBC executive David Andrew Ahlquist report on this Form 4?

David Andrew Ahlquist reported conversion of 1,634 restricted stock units into Eastern Bankshares common stock and withholding of 567 shares at $19.45 per share to satisfy tax obligations. The filing also updated his direct, indirect, and restricted stock unit holdings.

How many Eastern Bankshares (EBC) common shares does Ahlquist hold directly after these transactions?

After the reported transactions, David Andrew Ahlquist held 12,972 shares of Eastern Bankshares common stock directly. This figure reflects the RSU conversion into common stock and the share withholding for taxes disclosed in the Form 4 filing.

What does the Form 4 show about Ahlquist’s restricted stock units in Eastern Bankshares (EBC)?

The filing shows Ahlquist holds multiple blocks of restricted stock units that convert one-for-one into common stock and vest in three equal annual installments, beginning on specified March vesting dates, provided he continues in service with Eastern Bankshares.

How were taxes handled on Ahlquist’s Eastern Bankshares (EBC) equity award vesting?

To satisfy tax obligations related to the equity award, 567 shares of Eastern Bankshares common stock were withheld at $19.45 per share. This tax-withholding disposition was reported with transaction code “F” and reduced his directly held common share balance.

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

Ahlquist reports indirect ownership of Eastern Bankshares common stock through a 401(k) plan and an employee stock ownership plan. The Form 4 lists separate indirect holdings for each plan, in addition to his directly owned common shares and restricted stock units.

How do Ahlquist’s Eastern Bankshares (EBC) RSU grants vest over time?

The RSU grants reported for Ahlquist vest in three equal annual installments starting on their respective March vesting commencement dates, subject to continued service. Vested shares are issued as soon as practicable after each vesting date, according to the filing footnotes.