Form 4: HarborOne Director Disposes Shares Post-Merger

HarborOne Bancorp Director Mandy Berman reported the disposition of 27,488 common shares following the company's merger with Eastern Bankshares.

Summary

• Mandy Berman, a Director of HarborOne Bancorp, Inc., reported a change in beneficial ownership.
• The transaction involved the disposition of 27,488 shares of HarborOne common stock.
• This disposition occurred on November 1, 2025, as a result of the merger agreement between HarborOne Bancorp, Inc. and Eastern Bankshares, Inc.
• Under the merger agreement, each HarborOne common stock share 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.

Sentiment

Score: 5

Explanation: Neutral, as it's a mandatory reporting of a transaction resulting from a merger, not an operational update.

Industry Context

The merger of HarborOne Bancorp with Eastern Bankshares reflects ongoing consolidation in the regional banking sector, driven by factors such as economies of scale, increased regulatory burdens, and the pursuit of expanded market share.

Management Changes

Stakeholder Impact

• Shareholders of HarborOne Bancorp, Inc. received consideration (cash or Eastern Bankshares stock) for their shares as part of the merger.
• Mandy Berman, as a director and shareholder, disposed of her beneficial ownership in HarborOne common stock.

Key Dates

Keywords

Form 4, HarborOne Bancorp, Eastern Bankshares, merger, stock disposition, insider transaction, beneficial ownership, Mandy Berman