Form 4: HarborOne CIO's Stock Transactions Post-Merger

HarborOne Bancorp's EVP, Chief Information Officer, Brent W. Grable, reported stock transactions related to the company's merger with Eastern Bankshares, Inc.

Summary

• Brent W. Grable, EVP, Chief Information Officer of HarborOne Bancorp, Inc., reported stock transactions on November 1, 2025.
• These transactions are a direct result of the merger agreement dated April 24, 2025, between HarborOne Bancorp, Inc. and Eastern Bankshares, Inc.
• Grable acquired 5,988 shares of common stock due to performance units vesting at the target level as per the merger agreement.
• Following this acquisition, the beneficial ownership of the reporting person was 11,644 shares.
• Subsequently, 11,644 shares of HarborOne common stock were disposed of.
• Each share of HarborOne common stock was converted into the right to receive either $12.00 in cash or 0.765 shares of Eastern common stock, subject to certain proration provisions.
• Following these transactions, Grable's direct beneficial ownership of the disposed block of shares is 0.

Sentiment

Score: 5

Explanation: This Form 4 is a factual report of insider transactions related to a merger, providing no explicit positive or negative sentiment regarding company performance or future prospects.

Positives

• Performance units vested at the target level, resulting in the acquisition of 5,988 shares of common stock for the reporting person.

Negatives

• NA

Risks

• NA

Future Outlook

na

Management Comments

• NA

Industry Context

The reported transactions reflect the finalization of a merger between two financial institutions, HarborOne Bancorp and Eastern Bankshares, a common occurrence in the consolidating banking sector. Such mergers often lead to changes in executive compensation structures and stock holdings as companies integrate.

Comparison to Industry Standards

• The terms of the merger, including the cash consideration of $12.00 per share and an exchange ratio of 0.765 shares of Eastern common stock, are specific to this transaction. Without detailed financial statements or market data for both companies prior to the merger, a direct assessment against global benchmarks or specific comparable companies is not feasible based solely on this Form 4.
• The vesting of performance units at target level is a common provision in merger agreements to ensure executive retention and alignment during the transition period.

Management Changes

Corporate Governance

Legal Proceedings

• NA

Related Party Transactions

• NA

Stakeholder Impact

• Shareholders of HarborOne Bancorp, Inc. received either cash or Eastern Bankshares, Inc. common stock as a result of the merger.
• The reporting person, an executive, realized value from vested performance units and converted their HarborOne shares as part of the merger.

Next Steps

• NA

Key Dates

Keywords

HarborOne Bancorp, HONE, Eastern Bankshares, Merger, Form 4, Insider Trading, Executive Compensation, Stock Transaction, Brent W. Grable, Chief Information Officer