EML Form 4: Director Michael Mardy Receives 921 Shares for Fees

Rhea-AI Filing Summary

Michael J. Mardy, a director of The Eastern Company (EML), acquired 921 common shares under the company's Director's Fee Program on 09/17/2025 at an implied price of $24.98 per share (price used was from 09/15/2025). After the transaction he beneficially owned 15,789 shares, reported as direct ownership.

The transaction was filed on Form 4 and is described as shares issued in lieu of cash compensation pursuant to Rule 16b-3(d). The form is a routine Section 16 filing disclosing insider compensation received in equity.

Positive

• Director received 921 shares under the Director's Fee Program, aligning compensation with shareholder interests
• Transaction compliant with Rule 16b-3(d) and properly reported on Form 4, indicating governance procedure followed

Negative

• None.

Insights

Financial Analyst

Routine director equity grant; small share issuance increases insider alignment but is not material to valuation.

The filing shows a director received 921 shares valued at an implied $24.98 each based on the September 15, 2025 price, increasing direct holdings to 15,789 shares. This appears to be a standard election to receive director fees in stock under the Director's Fee Program and was executed pursuant to Rule 16b-3(d), which governs beneficial ownership transactions by insiders. The size of the issuance is modest relative to typical company floats and does not on its face indicate a change in company outlook or control.

Corporate Governance Expert

Disclosure aligns with Section 16 reporting rules; transaction reflects customary director compensation practice.

The Form 4 discloses a non-derivative issuance of 921 common shares to a director under an established fee program. The use of equity for director compensation is a common governance practice to align interests with shareholders. The filing is signed and dated 09/17/2025 and references Rule 16b-3(d), suggesting the issuance followed insider transaction exemptions for compensatory arrangements. There are no indications of unusual timing or related-party issues in the disclosure.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider MARDY MICHAEL J

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Shares	921	$24.98	$23K

Holdings After Transaction: Common Shares — 15,789 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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).

1. Name and Address of Reporting Person^*

MARDY MICHAEL J

(Last) (First) (Middle)

3 ENTERPRISE DRIVE

SUITE 408

(Street)

SHELTON CT 06484

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
EASTERN CO [ EML ]

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)
09/17/2025

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 Shares(1)	09/17/2025		A		921	A	$24.98	15,789	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

Explanation of Responses:

1. 921 shares acquired under The Eastern Company Director's Fee Program pursuant to Rule 16b-3(d). The price used to determine the number of shares is the price on September 15, 2025.

	/s/ Michael J. Mardy	09/17/2025
	** 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

What did Michael J. Mardy report on the Form 4 for EML?

He reported acquisition of 921 common shares under the Director's Fee Program, increasing his direct holdings to 15,789 shares.

When was the transaction for the EML Form 4 reported?

The transaction date is 09/17/2025, with the price used to determine shares from 09/15/2025.

At what price were the shares for the EML director fee determined?

The filing lists an implied price of $24.98 per share used to calculate the 921 shares.

Does the Form 4 indicate direct or indirect ownership after the transaction?

The Form 4 reports direct ownership of the 15,789 shares following the transaction.

Was this issuance under an established program or a one-time event?

The shares were issued under the company's Director's Fee Program, a routine compensatory arrangement.