Form 4: Brookline Bancorp CEO Reports Stock Vesting and Tax Withholding

Brookline Bancorp's Chairman and CEO, Paul A. Perrault, reported the vesting of performance-based restricted stock and subsequent tax-related dispositions.

Summary

• Paul A. Perrault, Chairman and CEO of Brookline Bancorp Inc. (BRKL), reported changes in his beneficial ownership of common stock.
• On August 25, 2025, a total of 40,957 shares of common stock were disposed of at a price of $11.03 per share.
• These dispositions were related to the vesting of performance-based restricted stock shares, granted under the Brookline Bancorp, Inc. 2021 Stock Option and Incentive Plan.
• The shares vested pursuant to the terms of the Agreement and Plan of Merger by and among Berkshire Hills Bancorp, Inc., Commerce Acquisition Sub, Inc., and Brookline Bancorp, Inc.
• Following these transactions, Mr. Perrault directly owns 486,621 common shares.
• He also indirectly owns 4,163 common shares via an Employee Stock Ownership Plan (ESOP) and 75,000 common shares via Paul A. Perrault GRAT #3.

Sentiment

Score: 6

Explanation: The filing reports the vesting of performance-based restricted stock, indicating the achievement of performance targets, which is a positive. The subsequent disposition of shares is for tax withholding purposes, a routine event for vested equity, and thus neutral.

Positives

• The vesting of performance-based restricted stock indicates the achievement of certain performance criteria, which is generally positive for the company and its executives.
• The vesting was tied to a merger agreement, suggesting successful execution or progress related to that corporate event.

Negatives

• The disposition of 40,957 shares, while primarily for tax purposes, reduces the direct ownership stake of the CEO.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: The CEO's continued significant ownership (over 500,000 shares) aligns his interests with shareholders. The vesting of performance shares suggests management achieved targets.

Key Dates

Recommendation

The filing details a routine insider transaction involving the vesting of performance-based restricted stock and subsequent disposition for tax withholding. While the vesting indicates performance achievement, the transaction itself does not provide new fundamental information to significantly alter the investment thesis for Brookline Bancorp. Investors should continue to hold based on broader company fundamentals rather than this specific insider filing.

Keywords

Brookline Bancorp, BRKL, Paul A. Perrault, SEC Form 4, Insider Trading, Stock Ownership, Restricted Stock, Performance Shares, Merger Agreement, Tax Withholding