Form 4: Eastern Bankshares Director Sells Shares Under Pre-Arranged Trading Plan
SEC Form 4 Filing
Director Deborah C. Jackson sold 5,713 shares of Eastern Bankshares stock at an average price of $18.56, as part of a pre-arranged trading plan.
Summary
- Deborah C. Jackson, a director at Eastern Bankshares, Inc., sold 5,713 shares of common stock on December 2, 2024.
- The sale was executed at an average price of $18.56 per share, with individual prices ranging from $18.42 to $18.65.
- This transaction was conducted under a pre-arranged Rule 10b5-1 trading plan adopted on November 17, 2023.
- Following the sale, Ms. Jackson directly owns 67,284 shares of common stock and indirectly owns 19,000 shares through an IRA.
- The directly owned shares include 37,749 shares of common stock, 24,839 unvested restricted shares, and 4,696 restricted shares scheduled to vest on May 13, 2025.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing regarding a stock sale by a director under a pre-arranged plan. It does not indicate any positive or negative sentiment.
Risks
- Sales by insiders can sometimes be perceived negatively by the market, potentially impacting the stock price.
Industry Context
This is a routine filing related to insider trading activity and is common for publicly traded companies. It does not indicate any specific trend in the banking industry.
Comparison to Industry Standards
- Insider trading activity is a common occurrence in publicly listed companies, and the reporting of such transactions is mandated by the SEC.
- The use of Rule 10b5-1 trading plans is a standard practice for corporate insiders to avoid accusations of trading on non-public information.
- Comparable companies would also have similar filings when directors or officers trade their company's stock.
Stakeholder Impact
- The sale may have a minor impact on shareholder sentiment, but it is unlikely to have a significant effect given the pre-planned nature of the transaction.
Key Dates
| Date | Description |
|---|---|
| 2021-11-30 | Date of grant for a portion of the restricted stock that vests ratably over five years. |
| 2023-11-17 | Date the Rule 10b5-1 trading plan was adopted by the reporting person. |
| 2024-05-13 | Date when 4,696 shares of restricted stock are scheduled to vest. |
| 2024-12-02 | Date of the reported stock sale transaction. |
Keywords
Eastern Bankshares, EBC, insider trading, Form 4, stock sale, Rule 10b5-1, director, Deborah C. Jackson
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