Eastern Bankshares director granted 3,883 restricted shares

Sullivan Michael James reported acquisition or exercise transactions in this Form 4 filing.

Accepted by SEC EDGAR 05/20/2026 - 04:15 PM EDT

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Form Type

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.

Insider Trade Summary

Grant/Award: 3,883 shares

Grant/Award 1 txn

Insider Sullivan Michael James

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	3,883	$0.00	$0.00
Holding	Common Stock	--	--	--
Holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 132,206 shares (Direct); Common Stock — 707 shares (Indirect, Held By Double Eagle LLC); Common Stock — 711 shares (Indirect, Rollover 401(k))

Footnotes (2)

F1. 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.
F2. 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"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Eastern Bankshares (EBC) report in Michael James Sullivan’s latest Form 4?

Eastern Bankshares reported that director Michael James Sullivan received a grant of 3,883 shares of restricted common stock at $0.00 per share, under the 2021 Equity Incentive Plan, increasing his direct ownership to 132,206 shares after the award.

How many Eastern Bankshares (EBC) shares were granted to Michael James Sullivan?

Michael James Sullivan was granted 3,883 shares of restricted common stock. The shares were issued at $0.00 per share as a compensation-related award under Eastern Bankshares’ 2021 Equity Incentive Plan, and they form part of his updated direct ownership position.

When do Michael James Sullivan’s restricted Eastern Bankshares (EBC) shares vest?

The 3,883 shares of restricted Eastern Bankshares common stock granted to Michael James Sullivan are scheduled to vest in full on May 18, 2026, one year from the grant date, assuming the terms of the 2021 Equity Incentive Plan are satisfied.

What is Michael James Sullivan’s total direct Eastern Bankshares (EBC) shareholding after the grant?

Following the restricted stock grant, Michael James Sullivan directly holds 132,206 shares of Eastern Bankshares common stock. This amount includes the 3,883 shares of restricted stock reported in the Form 4, as specified in the filing footnotes summarizing his direct position.

Does the Eastern Bankshares (EBC) Form 4 show Michael James Sullivan buying or selling shares on the market?

The Form 4 reports a grant of 3,883 restricted shares to Michael James Sullivan at $0.00 per share and does not show any open-market purchases or sales. The primary activity is a compensation-related equity award rather than market trading.

What indirect Eastern Bankshares (EBC) holdings are associated with Michael James Sullivan?

Beyond his direct holdings, the Form 4 lists 711 Eastern Bankshares shares held through a rollover 401(k) and 707 shares held by Double Eagle LLC. Both positions are categorized as indirect ownership interests associated with Sullivan in the filing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Sullivan Michael James

(Last)

(First)

(Middle)

125 HIGH STREET

(Street)

BOSTON

MASSACHUSETTS

02110

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Eastern Bankshares, Inc. [ EBC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/18/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/18/2026		A		3,883⁽¹⁾	A	$0	132,206⁽²⁾	D
Common Stock								707	I	Held By Double Eagle LLC
Common Stock								711	I	Rollover 401(k)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

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.

2. Consists of (i) 128,323 shares of common stock; and (ii) 3,883 shares of restricted stock reported on this Form 4.

	/s/ Laura Vaughn Burek	05/20/2026
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR