Form 4: Eastern Bankshares Executive Donald Westermann Reports Stock Transactions
SEC Form 4
Donald Westermann, Chief Information Officer of Eastern Bankshares, reports acquisition and disposal of common stock and restricted stock units.
Summary
- On March 1, 2024, Donald Westermann, Chief Information Officer of Eastern Bankshares, reported transactions involving common stock and restricted stock units.
- Westermann acquired 11,463 shares of common stock through the conversion of restricted stock units at a price of $0.00.
- He also disposed of 3,557 shares of common stock at a price of $12.81.
- Additionally, Westermann was granted 8,683 restricted stock units that vest in three equal annual installments beginning March 1, 2025.
- Following these transactions, Westermann directly owns 14,480 shares of common stock, 21,360 shares through a 401(k), and 2,793 shares through an ESOP.
- He also directly owns 3,954 restricted stock units from a 2023 grant and 8,683 restricted stock units from a 2024 grant.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions, with no inherent positive or negative sentiment.
Future Outlook
The reporting person will continue to receive shares as restricted stock units vest over the next several years, subject to continued service.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies.
Key Dates
| Date | Description |
|---|---|
| 03/01/2022 | Reporting person was granted 47,438 restricted stock units that vest in five equal annual installments beginning March 1, 2023, subject to continued service. |
| 03/01/2023 | Reporting person was granted 5,930 restricted stock units that vest in three equal annual installments beginning March 1, 2024, subject to continued service. |
| 03/01/2024 | Date of earliest transaction; reporting person was granted 8,683 restricted stock units that vest in three equal annual installments beginning March 1, 2025, subject to continued service; restricted stock units converted into common stock; common stock disposed of. |
| 03/05/2024 | Date of signature for the report. |
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