Form 4: Brookline Bancorp CEO Disposes Shares in Merger Conversion

Brookline Bancorp's Chairman and CEO, Paul A. Perrault, reported the disposal of all his beneficial ownership in the company's common stock due to its merger with Berkshire Hills Bancorp.

Summary

• Paul A. Perrault, Chairman and CEO of Brookline Bancorp Inc., reported a change in beneficial ownership.
• On September 1, 2025, he disposed of 486,621 shares of common stock held directly.
• Additionally, 75,000 shares held indirectly through Paul A. Perrault GRAT #3 were disposed of.
• These disposals occurred as a result of the merger between Brookline Bancorp, Inc. and Berkshire Hills Bancorp, Inc.
• Each share of Brookline Bancorp common stock was converted into the right to receive 0.42 shares of Berkshire common stock and cash for any fractional shares.
• Following these transactions, Paul A. Perrault beneficially owns 0 shares of Brookline Bancorp common stock.

Sentiment

Score: 5

Explanation: Neutral, as this is a factual report of a completed transaction (merger-related share conversion) and does not inherently convey positive or negative sentiment about the company's ongoing operations or future prospects, beyond the fact that the merger has occurred.

Future Outlook

NA

Industry Context

This transaction reflects the ongoing consolidation trend within the banking sector, where smaller regional banks are often acquired by larger institutions to achieve economies of scale and expand market reach. The conversion of shares indicates the finalization of a significant strategic move for Brookline Bancorp.

Stakeholder Impact

• Shareholders of Brookline Bancorp Inc. have had their shares converted into shares of Berkshire Hills Bancorp, Inc., altering their investment vehicle and potentially their voting rights and future returns.
• Employees of Brookline Bancorp Inc. may experience changes in management structure, corporate culture, and employment terms as a result of the merger with Berkshire Hills Bancorp, Inc.

Key Dates

Keywords

Brookline Bancorp, BRKL, Berkshire Hills Bancorp, Merger, Paul A. Perrault, SEC Form 4, Beneficial Ownership, Stock Disposal, Corporate Governance, Banking Industry