Enterprise Bancorp Insider Ownership Rises to 208k+ Shares in Amended Filing

Rhea-AI Filing Summary

Enterprise Bancorp, Inc. (EBTC) – Form 4/A insider transaction

Director Michael T. Putziger reported the issuance of 1,375 shares of EBTC common stock on 01/21/2025 at an accounting value of $29.24 per share. The shares were provided under the 2016 Stock Incentive Plan in lieu of director cash compensation, therefore they do not represent an open-market purchase.

Following the transaction, Putziger’s direct beneficial ownership increased to 208,711.8819 shares. He also holds 600.4119 shares indirectly through a trust for his granddaughter. The amendment corrects the Form 4 filed on 01/23/2025 to include shares accumulated via the company’s dividend reinvestment plan on 09/03/2024 and 12/02/2024 that had been inadvertently omitted.

No derivative securities were reported, and there were no dispositions. The filing, signed 06/26/2025, indicates continued board-level equity alignment but is routine and financially immaterial to the company’s capital structure.

Positive

• Director increased direct holdings to 208,711.8819 shares, indicating continued equity alignment.
• No insider sales were reported; the transaction consists solely of share acquisitions.

Negative

• None.

Insights

Senior Financial Analyst

TL;DR: Routine equity grant; boosts director ownership by ~0.7% but no market impact.

The amendment records 1,375 incentive shares plus previously unreported dividend reinvestment accruals. Total direct holdings rise to ~208.7 k shares. Because the acquisition is compensation-related (not open-market), signalling value is limited; nevertheless, the absence of sales supports a steady insider holding trend. Dollar value (~$40 k) is negligible relative to EBTC’s market capitalization, so valuation or liquidity effects should be minimal.

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^*

PUTZIGER MICHAEL T

(Last) (First) (Middle)

C/O ENTERPRISE BANCORP, INC.

222 MERRIMACK STREET

(Street)

LOWELL MA 01852

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ENTERPRISE BANCORP INC /MA/ [ EBTC ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/21/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
01/23/2025

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	01/21/2025		A		1,375(1)	A	$29.24	208,711.8819(2)(3)	D
Common Stock								600.4119(4)(5)(6)	I	By Trust For Granddaughter

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

Explanation of Responses:

1. Shares were issued in pursuant to the Enterprise Bancorp, Inc. 2016 Stock Incentive Plan in lieu of director cash compensation.

2. Includes 12.2765 shares acquired through dividend reinvestment on 9/3/24.

3. Includes 10.0664 shares acquired through dividend reinvestment on 12/2/24.

4. Includes 4.6758 shares acquired through the Issuer's dividend reinvestment plan on 9/3/24.

5. Includes 3.8642 shares acquired through the Issuer's dividend reinvestment plan on 12/2/24.

6. On January 23, 2025, the reporting person filed a Form 4 that inadvertently omitted shares acquired as a result of dividend reinvestment since the last reported transaction.

	/s/ Joseph R. Lussier attorney-in-fact for Michael T. Putziger	06/26/2025
	** 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.

FAQ

How many EBTC shares did Director Michael T. Putziger acquire?

He received 1,375 shares of common stock on 01/21/2025 under the 2016 Stock Incentive Plan.

What is Putziger’s total direct share ownership after the transaction?

His direct beneficial ownership increased to 208,711.8819 EBTC shares.

Was the transaction an open-market purchase?

No. The shares were issued in lieu of cash compensation; therefore, it was not an open-market purchase.

Why was the Form 4 amended?

The amendment adds shares gained via dividend reinvestment on 09/03/2024 and 12/02/2024 that were omitted from the prior filing.

Does the filing report any derivative securities or dispositions?

No. No derivative positions or share sales were disclosed in this Form 4/A.