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[Form 4] Enterprise Bancorp Inc. Insider Trading Activity

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4
Rhea-AI Filing Summary

Security National Financial Corp. (SNFCA) filed a Form 4 showing that General Counsel & Corporate Secretary Jeffrey R. Stephens completed two related equity transactions on 07/01/2025.

  • 604 Class A common shares acquired through a Rule 16 transaction coded “M” (conversion of derivative security) at an exercise price of $13.08 per share. Direct ownership rises to 42,040 shares.
  • The shares originated from a vesting tranche of previously granted restricted stock units (RSUs) under the 2022 Equity Incentive Plan.
  • Simultaneously, 604 new RSUs were credited to the insider at the same reference price of $13.08. Following the transactions he holds 1,206 unvested RSUs; 1,810 RSUs were outstanding before the conversion.
  • An additional 120,433 Class A shares are held indirectly in the company 401(k) plan (not included in Table I).

No sale of shares occurred and no open-market activity is reported. The filing reflects routine equity incentive vesting and exercise activity, not a discretionary purchase.

Security National Financial Corp. (SNFCA) ha presentato un Modulo 4 che mostra come il Consigliere Generale e Segretario Aziendale Jeffrey R. Stephens abbia completato due operazioni azionarie correlate il 01/07/2025.

  • Acquisizione di 604 azioni ordinarie di Classe A tramite una transazione regolamentata dalla Regola 16 codificata “M” (conversione di un titolo derivato) a un prezzo di esercizio di 13,08 $ per azione. La proprietà diretta sale a 42.040 azioni.
  • Le azioni derivano da una tranche di maturazione di unità azionarie vincolate (RSU) precedentemente assegnate nell’ambito del Piano di Incentivi Azionari 2022.
  • Contemporaneamente, sono state accreditate all’insider 604 nuove RSU allo stesso prezzo di riferimento di 13,08 $. Dopo le operazioni, detiene 1.206 RSU non maturate; prima della conversione, le RSU in circolazione erano 1.810.
  • Ulteriori 120.433 azioni di Classe A sono detenute indirettamente nel piano 401(k) aziendale (non incluse nella Tabella I).

Non si sono verificati vendite di azioni né attività sul mercato aperto. La comunicazione riflette l’ordinaria maturazione e esercizio di incentivi azionari, non un acquisto discrezionale.

Security National Financial Corp. (SNFCA) presentó un Formulario 4 que muestra que el Asesor Legal General y Secretario Corporativo Jeffrey R. Stephens completó dos transacciones de acciones relacionadas el 01/07/2025.

  • Adquisición de 604 acciones ordinarias Clase A mediante una transacción bajo la Regla 16 codificada como “M” (conversión de un valor derivado) a un precio de ejercicio de $13.08 por acción. La propiedad directa aumenta a 42,040 acciones.
  • Las acciones provienen de un tramo de consolidación de unidades de acciones restringidas (RSU) previamente otorgadas bajo el Plan de Incentivos de Capital 2022.
  • Simultáneamente, se acreditaron al insider 604 nuevas RSU al mismo precio de referencia de $13.08. Después de las transacciones, posee 1,206 RSU no consolidadas; antes de la conversión había 1,810 RSU en circulación.
  • Además, 120,433 acciones Clase A se mantienen indirectamente en el plan 401(k) de la empresa (no incluidas en la Tabla I).

No se realizaron ventas de acciones ni se reportó actividad en el mercado abierto. La presentación refleja la consolidación y ejercicio rutinario de incentivos accionarios, no una compra discrecional.

Security National Financial Corp. (SNFCA)는 일반 법률 고문 겸 기업 비서인 Jeffrey R. Stephens가 2025년 7월 1일에 두 건의 관련 주식 거래를 완료했음을 나타내는 Form 4를 제출했습니다.

  • 604주 클래스 A 보통주 취득은 파생증권 전환에 해당하는 규칙 16의 “M” 코드 거래로, 주당 13.08달러의 행사 가격으로 이루어졌습니다. 직접 소유 주식 수는 42,040주로 증가했습니다.
  • 이 주식들은 2022년 주식 인센티브 계획에 따라 이전에 부여된 제한 주식 단위(RSU)의 베스팅 트랜치에서 나온 것입니다.
  • 동시에 내부자에게 동일한 기준 가격인 13.08달러로 604개의 새로운 RSU가 적립되었습니다. 거래 후 그는 1,206개의 미베스팅 RSU를 보유하며, 전환 전에는 1,810개의 RSU가 발행되어 있었습니다.
  • 추가로 120,433주 클래스 A 주식이 회사 401(k) 플랜을 통해 간접적으로 보유 중입니다(표 I에는 포함되지 않음).

주식 매도는 없었으며 공개 시장 활동도 보고되지 않았습니다. 이번 제출은 임의 구매가 아닌 정기적인 주식 인센티브 베스팅 및 행사 활동을 반영합니다.

Security National Financial Corp. (SNFCA) a déposé un formulaire 4 indiquant que le conseiller juridique général et secrétaire d’entreprise Jeffrey R. Stephens a réalisé deux transactions d’actions liées le 01/07/2025.

  • Acquisition de 604 actions ordinaires de Classe A via une transaction conforme à la règle 16 codée « M » (conversion d’un titre dérivé) au prix d’exercice de 13,08 $ par action. La propriété directe passe à 42 040 actions.
  • Les actions proviennent d’une tranche d’acquisition d’unités d’actions restreintes (RSU) précédemment attribuées dans le cadre du plan d’incitation en actions 2022.
  • Simultanément, 604 nouvelles RSU ont été créditées à l’initié au même prix de référence de 13,08 $. Après ces transactions, il détient 1 206 RSU non acquises ; 1 810 RSU étaient en circulation avant la conversion.
  • De plus, 120 433 actions de Classe A sont détenues indirectement dans le plan 401(k) de l’entreprise (non incluses dans le tableau I).

Aucune vente d’actions n’a eu lieu et aucune activité sur le marché ouvert n’a été signalée. Le dépôt reflète une acquisition et un exercice d’incitations en actions de routine, et non un achat discrétionnaire.

Security National Financial Corp. (SNFCA) reichte ein Formular 4 ein, das zeigt, dass der General Counsel & Corporate Secretary Jeffrey R. Stephens am 01.07.2025 zwei zusammenhängende Aktiengeschäfte abgeschlossen hat.

  • 604 Class A Stammaktien erworben durch eine Rule-16-Transaktion mit dem Code „M“ (Umwandlung eines Derivatwertpapiers) zu einem Ausübungspreis von 13,08 $ pro Aktie. Das Direktbesitz steigt auf 42.040 Aktien.
  • Die Aktien stammen aus einer Vesting-Tranche zuvor gewährter Restricted Stock Units (RSUs) im Rahmen des Equity Incentive Plans 2022.
  • Gleichzeitig wurden dem Insider 604 neue RSUs zum gleichen Referenzpreis von 13,08 $ gutgeschrieben. Nach den Transaktionen hält er 1.206 nicht unverfallbare RSUs; vor der Umwandlung waren 1.810 RSUs ausstehend.
  • Weitere 120.433 Class A Aktien werden indirekt im unternehmenseigenen 401(k)-Plan gehalten (nicht in Tabelle I enthalten).

Es fanden keine Aktienverkäufe statt und es wurden keine Aktivitäten am offenen Markt gemeldet. Die Meldung spiegelt routinemäßiges Vesting und Ausüben von Aktienanreizen wider, keinen diskretionären Kauf.

Positive
  • Insider increased direct share ownership by 604 shares, bringing total direct holdings to 42,040 shares.
Negative
  • None.

Insights

TL;DR: Routine RSU vesting; immaterial volume; neutral impact.

The Form 4 records standard incentive-plan activity: 604 RSUs vested and converted to common stock, and an equal number of RSUs were granted for future vesting. The net change to Mr. Stephens’ overall economic exposure is effectively zero aside from normal ownership reclassification. Direct holdings now stand at 42,040 shares, which is insignificantly small relative to SNFCA’s public float, and no shares were sold. Because the filing involves customary compensation mechanics, it carries no material signal about near-term fundamentals or insider sentiment. Investors typically view such activity as routine housekeeping under the equity plan.

Security National Financial Corp. (SNFCA) ha presentato un Modulo 4 che mostra come il Consigliere Generale e Segretario Aziendale Jeffrey R. Stephens abbia completato due operazioni azionarie correlate il 01/07/2025.

  • Acquisizione di 604 azioni ordinarie di Classe A tramite una transazione regolamentata dalla Regola 16 codificata “M” (conversione di un titolo derivato) a un prezzo di esercizio di 13,08 $ per azione. La proprietà diretta sale a 42.040 azioni.
  • Le azioni derivano da una tranche di maturazione di unità azionarie vincolate (RSU) precedentemente assegnate nell’ambito del Piano di Incentivi Azionari 2022.
  • Contemporaneamente, sono state accreditate all’insider 604 nuove RSU allo stesso prezzo di riferimento di 13,08 $. Dopo le operazioni, detiene 1.206 RSU non maturate; prima della conversione, le RSU in circolazione erano 1.810.
  • Ulteriori 120.433 azioni di Classe A sono detenute indirettamente nel piano 401(k) aziendale (non incluse nella Tabella I).

Non si sono verificati vendite di azioni né attività sul mercato aperto. La comunicazione riflette l’ordinaria maturazione e esercizio di incentivi azionari, non un acquisto discrezionale.

Security National Financial Corp. (SNFCA) presentó un Formulario 4 que muestra que el Asesor Legal General y Secretario Corporativo Jeffrey R. Stephens completó dos transacciones de acciones relacionadas el 01/07/2025.

  • Adquisición de 604 acciones ordinarias Clase A mediante una transacción bajo la Regla 16 codificada como “M” (conversión de un valor derivado) a un precio de ejercicio de $13.08 por acción. La propiedad directa aumenta a 42,040 acciones.
  • Las acciones provienen de un tramo de consolidación de unidades de acciones restringidas (RSU) previamente otorgadas bajo el Plan de Incentivos de Capital 2022.
  • Simultáneamente, se acreditaron al insider 604 nuevas RSU al mismo precio de referencia de $13.08. Después de las transacciones, posee 1,206 RSU no consolidadas; antes de la conversión había 1,810 RSU en circulación.
  • Además, 120,433 acciones Clase A se mantienen indirectamente en el plan 401(k) de la empresa (no incluidas en la Tabla I).

No se realizaron ventas de acciones ni se reportó actividad en el mercado abierto. La presentación refleja la consolidación y ejercicio rutinario de incentivos accionarios, no una compra discrecional.

Security National Financial Corp. (SNFCA)는 일반 법률 고문 겸 기업 비서인 Jeffrey R. Stephens가 2025년 7월 1일에 두 건의 관련 주식 거래를 완료했음을 나타내는 Form 4를 제출했습니다.

  • 604주 클래스 A 보통주 취득은 파생증권 전환에 해당하는 규칙 16의 “M” 코드 거래로, 주당 13.08달러의 행사 가격으로 이루어졌습니다. 직접 소유 주식 수는 42,040주로 증가했습니다.
  • 이 주식들은 2022년 주식 인센티브 계획에 따라 이전에 부여된 제한 주식 단위(RSU)의 베스팅 트랜치에서 나온 것입니다.
  • 동시에 내부자에게 동일한 기준 가격인 13.08달러로 604개의 새로운 RSU가 적립되었습니다. 거래 후 그는 1,206개의 미베스팅 RSU를 보유하며, 전환 전에는 1,810개의 RSU가 발행되어 있었습니다.
  • 추가로 120,433주 클래스 A 주식이 회사 401(k) 플랜을 통해 간접적으로 보유 중입니다(표 I에는 포함되지 않음).

주식 매도는 없었으며 공개 시장 활동도 보고되지 않았습니다. 이번 제출은 임의 구매가 아닌 정기적인 주식 인센티브 베스팅 및 행사 활동을 반영합니다.

Security National Financial Corp. (SNFCA) a déposé un formulaire 4 indiquant que le conseiller juridique général et secrétaire d’entreprise Jeffrey R. Stephens a réalisé deux transactions d’actions liées le 01/07/2025.

  • Acquisition de 604 actions ordinaires de Classe A via une transaction conforme à la règle 16 codée « M » (conversion d’un titre dérivé) au prix d’exercice de 13,08 $ par action. La propriété directe passe à 42 040 actions.
  • Les actions proviennent d’une tranche d’acquisition d’unités d’actions restreintes (RSU) précédemment attribuées dans le cadre du plan d’incitation en actions 2022.
  • Simultanément, 604 nouvelles RSU ont été créditées à l’initié au même prix de référence de 13,08 $. Après ces transactions, il détient 1 206 RSU non acquises ; 1 810 RSU étaient en circulation avant la conversion.
  • De plus, 120 433 actions de Classe A sont détenues indirectement dans le plan 401(k) de l’entreprise (non incluses dans le tableau I).

Aucune vente d’actions n’a eu lieu et aucune activité sur le marché ouvert n’a été signalée. Le dépôt reflète une acquisition et un exercice d’incitations en actions de routine, et non un achat discrétionnaire.

Security National Financial Corp. (SNFCA) reichte ein Formular 4 ein, das zeigt, dass der General Counsel & Corporate Secretary Jeffrey R. Stephens am 01.07.2025 zwei zusammenhängende Aktiengeschäfte abgeschlossen hat.

  • 604 Class A Stammaktien erworben durch eine Rule-16-Transaktion mit dem Code „M“ (Umwandlung eines Derivatwertpapiers) zu einem Ausübungspreis von 13,08 $ pro Aktie. Das Direktbesitz steigt auf 42.040 Aktien.
  • Die Aktien stammen aus einer Vesting-Tranche zuvor gewährter Restricted Stock Units (RSUs) im Rahmen des Equity Incentive Plans 2022.
  • Gleichzeitig wurden dem Insider 604 neue RSUs zum gleichen Referenzpreis von 13,08 $ gutgeschrieben. Nach den Transaktionen hält er 1.206 nicht unverfallbare RSUs; vor der Umwandlung waren 1.810 RSUs ausstehend.
  • Weitere 120.433 Class A Aktien werden indirekt im unternehmenseigenen 401(k)-Plan gehalten (nicht in Tabelle I enthalten).

Es fanden keine Aktienverkäufe statt und es wurden keine Aktivitäten am offenen Markt gemeldet. Die Meldung spiegelt routinemäßiges Vesting und Ausüben von Aktienanreizen wider, keinen diskretionären Kauf.

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
X
 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*
Larochelle Steven R
(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
X Officer (give title below) Other (specify below)
CEO
3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025
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 07/01/2025 F 5,372 D $39.64 52,649.3845(1) D
Common Stock 07/01/2025 D 52,649.3845 D (2) 0(1) 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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option (Right to Buy) $21.86 07/01/2025 D 571 (3) 03/14/2026 Common Stock 571 (3) 0 D
Option (Right to Buy) $30.46 07/01/2025 D 397 (3) 03/21/2027 Common Stock 397 (3) 0 D
Option (Right to Buy) $34.33 07/01/2025 D 375 (3) 03/20/2028 Common Stock 375 (3) 0 D
Option (Right to Buy) $29.84 07/01/2025 D 519 (3) 03/19/2029 Common Stock 519 (3) 0 D
Option (Right to Buy) $28.22 07/01/2025 D 537 (3) 03/17/2030 Common Stock 537 (3) 0 D
Stock Option (Right to Buy) $32.73 07/01/2025 D 376 (3) 03/15/2031 Common Stock 376 (3) 0 D
Stock Option (Right to Buy) $38.58 07/01/2025 D 391 (3) 03/14/2032 Common Stock 391 (3) 0 D
Explanation of Responses:
1. In accordance with the Merger Agreement, all unvested shares of restricted stock automatically vested in full at the Effective Time (as defined in the Merger Agreement) to the extent not previously forfeited, and was considered outstanding shares of Enterprise common entitled to receive the Merger Consideration (as defined in the Merger Agreement).
2. Pursuant to the Agreement and Plan of Merger, dated as of December 8, 2024 (the "Merger Agreement"), by and among Enterprise Bancorp, Inc. ("Enterprise"), Enterprise Bank and Trust Company, Independent Bank Corp. ("Independent") and Rockland Trust Company, each issued and outstanding share of Enterprise common stock was converted into the right to receive (i) $2.00 in cash and (ii) 0.60 shares of Independent common stock (subject to the payment of cash in lieu of fractional shares).
3. In accordance with the Merger Agreement, each option to purchase Issuer common stock, whether vested or unvested, automatically converted to the right to receive a cash payment equal to (i) the number of shares of Enterprise common stock provided for in such option and (ii) the excess, if any, of the Per Share Cash Equivalent Consideration (as defined in the Merger Agreement) over the exercise price per share of Enterprise common stock provided for in such option, which cash payment was made without interest and was net of all applicable withholding taxes.
/s/ Joseph R. Lussier as attorney-in-fact for Steven R. Larochelle 07/01/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

How many SNFCA shares did Jeffrey R. Stephens acquire on 07/01/2025?

He acquired 604 Class A common shares via conversion of vested RSUs.

At what price were the SNFCA shares recorded in the Form 4 filing?

The exercise/vesting price reported for both the shares and RSUs was $13.08 per share.

What is Jeffrey R. Stephens’ total direct ownership after the transaction?

After the transaction he directly owns 42,040 SNFCA shares.

How many restricted stock units does the insider still hold?

He retains 1,206 unvested RSUs scheduled to fully vest by 12/31/2025.

Is the transaction considered a purchase or routine vesting?

The Form 4 uses code “M,” indicating a routine conversion of derivative securities (RSU vesting), not an open-market purchase.
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