Form 4: HarborOne Director Payne Divests Shares Post-Eastern Bank Merger

HarborOne Bancorp Director William A. Payne reported the disposition of all his common stock and stock options following the merger with Eastern Bankshares, Inc.

Summary

• Director William A. Payne disposed of 38,445 shares of HarborOne Bancorp, Inc. common stock on November 1, 2025.
• Payne also disposed of 24,979 stock options to purchase HarborOne common stock on November 1, 2025, which had an exercise price of $10.23 and an original expiration date of August 15, 2027.
• These dispositions occurred pursuant to the merger agreement dated April 24, 2025, 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 proration.
• Outstanding HarborOne stock options were converted into options to purchase Eastern common stock, with adjusted share numbers and exercise prices based on the exchange ratio.
• Following these transactions, William A. Payne beneficially owns 0 shares of HarborOne common stock and 0 derivative securities related to HarborOne.

Sentiment

Score: 5

Explanation: The filing is a factual report of a director's disposition of securities following a merger, which is a standard procedural event. It contains no information that would inherently indicate a positive or negative sentiment for the company's ongoing operations.

Future Outlook

This Form 4 reports a completed transaction resulting from a merger and does not provide any forward-looking statements or guidance regarding HarborOne Bancorp, Inc.'s future operations or financial performance.

Industry Context

The reported transactions are a direct consequence of the merger between HarborOne Bancorp, Inc. and Eastern Bankshares, Inc., reflecting ongoing consolidation trends within the regional banking sector. Such mergers often aim to achieve economies of scale, expand market reach, and enhance competitive positioning against larger financial institutions.

Stakeholder Impact

• HarborOne shareholders received consideration (cash or Eastern shares) for their holdings as a result of the merger.
• Employees of HarborOne Bancorp, Inc. may experience changes in employment terms or structure due to the integration with Eastern Bankshares, Inc., though this filing does not provide details.

Key Dates

Keywords

HarborOne Bancorp, HONE, Eastern Bankshares, Merger, Form 4, Insider Transaction, Stock Options, Beneficial Ownership, William A. Payne, Banking Industry