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Minerva Advisors LLC and related entities report a sizable passive stake in The Eastern Company. They disclose beneficial ownership of 529,084 shares of common stock, equal to 8.7% of the company’s outstanding shares. Individual reporting person David P. Cohen reports beneficial ownership of 531,334 shares, or 8.8% of the class.
The filing notes that 6,068,650 shares of The Eastern Company’s common stock were outstanding as of 9/27/2025, based on the company’s Form 10-Q. The reporting persons certify the shares were not acquired and are not held for the purpose of changing or influencing control of the issuer, indicating a passive investment intent under Schedule 13G.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 10)
The Eastern Company
(Name of Issuer)
Common Stock, No par value
(Title of Class of Securities)
276317104
(CUSIP Number)
12/31/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
276317104
1
Names of Reporting Persons
Minerva Advisors LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
337,419.00
6
Shared Voting Power
191,665.00
7
Sole Dispositive Power
337,419.00
8
Shared Dispositive Power
191,665.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
529,084.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
8.7 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP No.
276317104
1
Names of Reporting Persons
Minerva Group LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
337,419.00
6
Shared Voting Power
7
Sole Dispositive Power
337,419.00
8
Shared Dispositive Power
9
Aggregate Amount Beneficially Owned by Each Reporting Person
337,419.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.6 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP No.
276317104
1
Names of Reporting Persons
Minerva GP, LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
337,419.00
6
Shared Voting Power
7
Sole Dispositive Power
337,419.00
8
Shared Dispositive Power
9
Aggregate Amount Beneficially Owned by Each Reporting Person
337,419.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.6 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP No.
276317104
1
Names of Reporting Persons
Minerva GP, Inc.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
PENNSYLVANIA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
337,419.00
6
Shared Voting Power
7
Sole Dispositive Power
337,419.00
8
Shared Dispositive Power
9
Aggregate Amount Beneficially Owned by Each Reporting Person
337,419.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.6 %
12
Type of Reporting Person (See Instructions)
CO
SCHEDULE 13G
CUSIP No.
276317104
1
Names of Reporting Persons
David P. Cohen
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
339,669.00
6
Shared Voting Power
191,665.00
7
Sole Dispositive Power
339,669.00
8
Shared Dispositive Power
191,665.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
531,334.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
8.8 %
12
Type of Reporting Person (See Instructions)
IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
The Eastern Company
(b)
Address of issuer's principal executive offices:
3 Enterprise Drive, Suite 408, Shelton, CT 06484
Item 2.
(a)
Name of person filing:
Minerva Advisors LLC
Minerva Group, LP
Minerva GP, LP
Minerva GP, Inc.
David P. Cohen
(b)
Address or principal business office or, if none, residence:
50 Monument Road, Suite 201
Bala Cynwyd, PA 19004
(c)
Citizenship:
David P. Cohen is a U.S. Citizen.
Minerva Advisors LLC, Minerva Group, LP, and Minerva GP, LP are organized under Delaware law.
Minerva GP, Inc. is organized under Pennsylvania law.
(d)
Title of class of securities:
Common Stock, No par value
(e)
CUSIP No.:
276317104
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
Minerva Advisors LLC* - 529,084
Minerva Group LP - 337,419
Minerva GP, LP* - 337,419
Minerva GP, Inc.* - 337,419
David P. Cohen* - 531,334
*Each of these reporting persons is deemed a beneficial owner of the 337,419 shares of the Issuer held by Minerva Group, LP. David P. Cohen is the beneficial owner of the 2,250 shares of the Issuer owned individually and is also deemed a beneficial owner of the 529,084 shares of the Issuer beneficially owned by Minerva Advisors LLC.
(b)
Percent of class:
Minerva Advisors LLC* - 8.7%
Minerva Group LP - 5.6%
Minerva GP, LP* - 5.6%
Minerva GP, Inc.* - 5.6%
David P. Cohen* - 8.8%
*Each of these reporting persons is deemed a beneficial owner of the 5.6% of the shares of the Issuer held by Minerva Group, LP. David P. Cohen is the beneficial owner of .04% of the shares of the Issuer owned individually and is also deemed a beneficial owner of the 8.7% of the shares of the Issuer beneficially owned by Minerva Advisors LLC.
Based on a total of 6,068,650 shares of the Issuer's Common Stock outstanding as of 9/27/2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the period ended 9/27/2025.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Minerva Advisors LLC* - 337,419
Minerva Group, LP - 337,419
Minerva GP, LP* - 337,419
Minerva GP, Inc.* - 337,419
David P. Cohen* - 339,669
*Each of these reporting persons is deemed a beneficial owner of the 337,419 shares of the Issuer held by Minerva Group, LP. David P. Cohen is the beneficial owner of 2,250 shares of the Issuer owned individually.
(ii) Shared power to vote or to direct the vote:
Minerva Advisors LLC - 191,665
David P. Cohen** - 191,665
**David P. Cohen is deemed a beneficial owner of the 191,665 shares of the Issuer beneficially owned by Minerva Advisors LLC.
(iii) Sole power to dispose or to direct the disposition of:
Minerva Advisors LLC* - 337,419
Minerva Group, LP - 337,419
Minerva GP, LP* - 337,419
Minerva GP, Inc.* - 337,419
David P. Cohen* - 339,669
*Each of these reporting persons is deemed a beneficial owner of the 337,419 shares of the Issuer held by Minerva Group, LP. David P. Cohen is also the beneficial owner of 2,250 shares of the Issuer owned individually.
(iv) Shared power to dispose or to direct the disposition of:
Minerva Advisors LLC - 191,665
David P. Cohen** - 191,665
**David P. Cohen is deemed a beneficial owner of the 191,665 shares of the Issuer beneficially owned by Minerva Advisors LLC.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
