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On July 1, 2025, Enterprise Bancorp, Inc. (EBTC) director Jacqueline F. Moloney filed a Form 4 detailing the disposition of 25,718 shares of EBTC common stock. The shares were automatically converted in connection with the closing of the previously announced merger with Independent Bank Corp. Under the Agreement and Plan of Merger dated December 8, 2024, each EBTC share was exchanged for $2.00 in cash plus 0.60 shares of Independent common stock. All unvested restricted stock vested at the merger’s effective time and was included in the conversion. The transaction was coded “D” (disposition) and reported at a price of “0” because consideration was delivered in the form of cash and stock rather than an open-market trade. Following the conversion, Moloney reports no remaining direct EBTC share ownership, consistent with EBTC shares being retired post-merger.
Form 4 filing for Enterprise Bancorp Inc. (EBTC) reports that director Nickolas Stavropoulos disposed of all remaining EBTC common shares on 07/01/2025 in connection with the closing of the previously-announced merger with Independent Bank Corp. (INDB).
• Direct holdings: 5,291.2761 shares were converted.
• Indirect holdings (trust): 4,843 shares were converted.
• Post-transaction EBTC ownership: 0 shares (both direct and indirect).
Under the Agreement and Plan of Merger dated 12/08/2024, each EBTC share was exchanged for $2.00 in cash plus 0.60 INDB shares. All unvested restricted stock vested at the effective time and received the same merger consideration. The filing is administrative in nature and does not indicate an open-market sale; it reflects the elimination of EBTC equity as the merger closed.