Director Michael Sullivan (EBC) awarded 3,883 restricted shares vesting in 2026
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Sullivan Michael James reported acquisition or exercise transactions in this Form 4 filing.
Eastern Bankshares director Michael James Sullivan received a grant of 3,883 shares of restricted common stock, awarded at a price of $0.00 per share under the company’s 2021 Equity Incentive Plan. According to the disclosure, this restricted stock is scheduled to vest in full on May 18, 2026.
After the grant, Sullivan directly holds 132,206 shares of common stock, which includes the 3,883 restricted shares. He also has indirect holdings of 711 shares through a rollover 401(k) and 707 shares held by Double Eagle LLC. The filing reflects a compensation-related equity award rather than any open-market buying or selling.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Sullivan Michael James
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 3,883 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 132,206 shares (Direct, null);
Common Stock — 707 shares (Indirect, Held By Double Eagle LLC)
Footnotes (1)
- These shares represent restricted stock that was granted under the Issuer's 2021 Equity Incentive Plan pursuant to the terms of such plan. This restricted stock is scheduled to vest in full on the anniversary of the grant date of May 18, 2026. Consists of (i) 128,323 shares of common stock; and (ii) 3,883 shares of restricted stock reported on this Form 4.
Key Figures
Restricted stock grant: 3,883 shares
Vest date: May 18, 2026
Direct holdings after grant: 132,206 shares
+2 more
5 metrics
Restricted stock grant
3,883 shares
Granted under 2021 Equity Incentive Plan at $0.00 per share
Vest date
May 18, 2026
Restricted stock scheduled to vest in full on this date
Direct holdings after grant
132,206 shares
Common stock directly owned after the 3,883-share grant
Rollover 401(k) holdings
711 shares
Indirect common stock ownership via rollover 401(k)
Double Eagle LLC holdings
707 shares
Indirect common stock ownership held by Double Eagle LLC
Key Terms
restricted stock, 2021 Equity Incentive Plan, vest, Rollover 401(k), +1 more
5 terms
restricted stock financial
"These shares represent restricted stock that was granted under the Issuer's 2021 Equity Incentive Plan"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
2021 Equity Incentive Plan financial
"restricted stock that was granted under the Issuer's 2021 Equity Incentive Plan"
vest financial
"This restricted stock is scheduled to vest in full on the anniversary of the grant date"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
Rollover 401(k) financial
"direct_or_indirect: I, nature_of_ownership: Rollover 401(k)"
indirect ownership financial
"ownership_type: indirect, ownership_code: I"
