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Eastern Bankshares (EBC) chair logs RSU conversion and tax share withholding

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Eastern Bankshares Executive Chair Robert Francis Rivers reported equity award activity on March 3, 2026. He converted 11,223 restricted stock units into common stock at $0.00 per share, increasing his directly held common stock to 463,709 shares before a related tax transaction.

To cover tax obligations, 5,427 common shares were withheld or disposed of at $19.45 per share, leaving 458,282 directly held common shares. Footnotes show multiple outstanding restricted stock unit grants that vest in annual installments, and an additional 4,921 common shares held indirectly through an ESOP, plus 200,000 shares held in joint tenancy with his spouse.

Positive

  • None.

Negative

  • None.
Insider Rivers Robert Francis
Role Executive Chair
Type Security Shares Price Value
Exercise Restricted Stock Units 11,223 $0.00 --
Exercise Common Stock 11,223 $0.00 --
Tax Withholding Common Stock 5,427 $19.45 $106K
holding Restricted Stock Units -- -- --
holding Restricted Stock Units -- -- --
holding Restricted Stock Units -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Restricted Stock Units — 22,448 shares (Direct); Common Stock — 463,709 shares (Direct); Common Stock — 4,921 shares (Indirect, By ESOP)
Footnotes (1)
  1. Restricted stock units convert into common stock on a one-for-one basis. Includes 200,000 shares held in joint tenancy with spouse. Reflects the amount of shares beneficially owned, including shares received due to automatic dividend reinvestment, as of the date of this report. On March 1, 2022, the reporting person was granted 106,736 restricted stock units that vest in five equal annual installments beginning March 1, 2023, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date. On March 1, 2024, the reporting person was granted 46,604 restricted stock units that vest in three equal annual installments beginning March 1, 2025, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date. On March 3, 2025, the reporting person was granted 33,671 restricted stock units that vest in three equal annual installments beginning March 3, 2026, after market close, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date. On March 2, 2026, the reporting person was granted 33,301 restricted stock units that vest in three equal annual installments beginning March 2, 2027, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.
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).
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*
Rivers Robert Francis
(Last) (First) (Middle)
125 HIGH STREET
(Street)
BOSTON MA 02110
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Eastern Bankshares, Inc. [ EBC ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
Executive Chair
3. Date of Earliest Transaction (Month/Day/Year)
03/03/2026
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 03/03/2026 M 11,223(1) A $0 463,709 D
Common Stock 03/03/2026 F 5,427 D $19.45 458,282 D(2)
Common Stock 4,921 I(3) By ESOP
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
Restricted Stock Units (1) (4) (4) Common stock 21,348 21,348 D
Restricted Stock Units (1) (5) (5) Common stock 15,535 15,535 D
Restricted Stock Units (1) 03/03/2026 M 11,223 (6) (6) Common stock 11,223 $0 22,448 D
Restricted Stock Units (1) (7) (7) Common stock 33,301 33,301 D
Explanation of Responses:
1. Restricted stock units convert into common stock on a one-for-one basis.
2. Includes 200,000 shares held in joint tenancy with spouse.
3. Reflects the amount of shares beneficially owned, including shares received due to automatic dividend reinvestment, as of the date of this report.
4. On March 1, 2022, the reporting person was granted 106,736 restricted stock units that vest in five equal annual installments beginning March 1, 2023, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.
5. On March 1, 2024, the reporting person was granted 46,604 restricted stock units that vest in three equal annual installments beginning March 1, 2025, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.
6. On March 3, 2025, the reporting person was granted 33,671 restricted stock units that vest in three equal annual installments beginning March 3, 2026, after market close, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.
7. On March 2, 2026, the reporting person was granted 33,301 restricted stock units that vest in three equal annual installments beginning March 2, 2027, subject to continued service. Vested shares will be issued to the reporting person as soon as practicable after the vesting date.
/s/ Kathleen R. Henry, by Power of Attorney 03/05/2026
** 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

What insider transactions did EBC Executive Chair Robert Rivers report?

Robert Rivers reported an RSU conversion and a tax share withholding. He converted 11,223 restricted stock units into common stock, then 5,427 common shares were disposed of at $19.45 per share to satisfy tax obligations tied to the equity award activity.

How many Eastern Bankshares (EBC) shares does Robert Rivers hold after this Form 4?

After these transactions, Rivers directly holds 458,282 common shares. He also has additional exposure through 4,921 common shares held indirectly via an ESOP and 200,000 shares held in joint tenancy with his spouse, according to the filing footnotes.

What happened to Robert Rivers restricted stock units at Eastern Bankshares?

11,223 restricted stock units converted into common stock on March 3, 2026. Footnotes describe several RSU grants from 2022, 2024, 2025, and 2026 that vest in equal annual installments, with vested shares issued after each vesting date, subject to continued service.

Was the 5,427-share transaction by EBCs Robert Rivers an open-market sale?

The 5,427-share transaction is classified as a tax-withholding disposition. It is coded F, meaning shares were delivered to cover the exercise price or tax liability tied to equity awards, rather than representing a typical open-market discretionary sale.

How are Robert Rivers indirect Eastern Bankshares (EBC) holdings structured?

The filing shows 4,921 common shares held indirectly through an ESOP. A footnote also states that his beneficial ownership includes 200,000 shares held in joint tenancy with his spouse and shares received through automatic dividend reinvestment as of the report date.