Restricted stock grant lifts Eastern Bankshares (EBC) director holdings

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Borgen Luis reported acquisition or exercise transactions in this Form 4 filing.

Eastern Bankshares, Inc. director Luis Borgen reported receiving a grant of 3,883 shares of restricted common stock at no cash cost as compensation. The award was made under the company’s 2021 Equity Incentive Plan and is scheduled to vest in full on May 18, 2026.

After this grant, Borgen holds 23,894 shares of common stock, including previously owned shares and earlier restricted stock awards that vest over time. The filing reflects a routine equity compensation grant rather than an open-market share purchase.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Borgen Luis

Role null

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

Holdings After Transaction: Common Stock — 23,894 shares (Direct, null)

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) 7,591 shares of common stock; (ii) 12,420 remaining shares of restricted stock that vest ratably over a five-year period on the anniversary of the November 30, 2021 date of grant; and (iii) 3,883 shares of restricted stock reported on this Form 4.

Key Figures

Restricted stock grant: 3,883 shares Grant price: $0.0000 per share Total holdings after grant: 23,894 shares +3 more

6 metrics

Restricted stock grant 3,883 shares Award of restricted common stock to director on May 18, 2026 grant date

Grant price $0.0000 per share Reported price for the 3,883-share restricted stock award

Total holdings after grant 23,894 shares Common stock held by Luis Borgen following the reported transaction

Previously owned common shares 7,591 shares Component of Borgen’s post-transaction holdings per footnote

Prior restricted stock award 12,420 shares Restricted stock vesting ratably over five years from November 30, 2021

Vesting date for new grant May 18, 2026 New 3,883-share restricted stock award vests in full on this date

Key Terms

restricted stock, 2021 Equity Incentive Plan, vest in full, vest ratably

4 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 pursuant to the terms of such plan"

vest in full financial

"This restricted stock is scheduled to vest in full on the anniversary of the grant date"

vest ratably financial

"remaining shares of restricted stock that vest ratably over a five-year period"

Form 4 Insider Transactions: What Each Field Means →

05/20/2026 - 04:15 PM

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^*

Borgen Luis

(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	23,894⁽²⁾	D

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) 7,591 shares of common stock; (ii) 12,420 remaining shares of restricted stock that vest ratably over a five-year period on the anniversary of the November 30, 2021 date of grant; and (iii) 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

FAQ

What insider transaction did Eastern Bankshares (EBC) report for Luis Borgen?

Eastern Bankshares (EBC) reported that director Luis Borgen received 3,883 shares of restricted common stock as a grant. The shares were awarded at no cash cost as part of equity compensation under the company’s 2021 Equity Incentive Plan.

Was the Eastern Bankshares (EBC) Form 4 transaction an open-market stock purchase?

No, the Eastern Bankshares (EBC) Form 4 shows a grant of restricted stock, not an open-market purchase. The 3,883 shares were awarded as compensation at a reported price of $0.0000 per share under the 2021 Equity Incentive Plan.

When do Luis Borgen’s new restricted Eastern Bankshares (EBC) shares vest?

The newly granted 3,883 restricted shares of Eastern Bankshares (EBC) to director Luis Borgen are scheduled to vest in full on May 18, 2026. Vesting must occur before he fully owns the shares free of restrictions.

How many Eastern Bankshares (EBC) shares does Luis Borgen hold after this grant?

Following the grant, Luis Borgen holds 23,894 Eastern Bankshares (EBC) common shares. This consists of 7,591 regular shares plus 16,303 restricted shares from different awards that vest on various schedules over future years.

What equity awards from Eastern Bankshares (EBC) does Luis Borgen already have outstanding?

Luis Borgen’s Eastern Bankshares (EBC) holdings include 7,591 common shares, 12,420 restricted shares from a November 30, 2021 grant vesting over five years, and the new 3,883 restricted shares granted on May 18, 2026, according to the filing footnotes.