Form 4: HarborOne Exec Disposes Shares Post-Merger

HarborOne Bancorp's EVP, Chief Banking Officer, Anne H. Margulies, reported the disposition of 11,972 common shares following the merger with Eastern Bankshares, Inc.

Summary

• Anne H. Margulies, Executive Vice President and Chief Banking Officer of HarborOne Bancorp, Inc., reported the disposition of 11,972 shares of HarborOne common stock.
• The transaction occurred on November 1, 2025, and was a direct disposition.
• This disposition was pursuant to a merger agreement dated April 24, 2025, between Eastern Bankshares, Inc., Eastern Bank, HarborOne Bancorp, Inc., and HarborOne Bank.
• Under the merger agreement, each share of HarborOne common stock was converted into the right to receive, at the holder's election, either $12.00 in cash or 0.765 shares of Eastern common stock, subject to proration provisions.

Sentiment

Score: 5

Explanation: The filing is a factual report of an insider transaction resulting from a merger, providing neutral information without explicit positive or negative sentiment regarding future performance.

Positives

• The completion of the merger provides liquidity or shares in a larger entity (Eastern Bankshares, Inc.) for HarborOne shareholders, including the reporting person.
• The merger agreement offered shareholders a choice between a fixed cash value of $12.00 per share or a fixed exchange ratio of 0.765 shares of Eastern common stock.

Negatives

• HarborOne Bancorp, Inc. ceases to exist as an independent publicly traded entity following the merger.

Future Outlook

The filing reports a completed transaction resulting from a merger, and does not provide forward-looking statements or guidance for the combined entity.

Industry Context

This transaction reflects ongoing consolidation within the banking sector, where smaller regional banks are often acquired by larger institutions to achieve economies of scale, expand market reach, or enhance shareholder value.

Stakeholder Impact

• Shareholders of HarborOne Bancorp, Inc. have converted their holdings into either cash or shares of Eastern Bankshares, Inc. as a result of the merger.
• Employees of HarborOne Bancorp, Inc., including the reporting person, are now part of the combined Eastern Bankshares organization, which may involve changes in roles or reporting structures.

Next Steps

• HarborOne shareholders who elected cash would have received their proceeds.
• HarborOne shareholders who elected stock would now hold shares in Eastern Bankshares, Inc.

Key Dates

Keywords

HarborOne Bancorp, HONE, Eastern Bankshares, Merger, Form 4, Insider Transaction, Stock Disposition, Anne H. Margulies, Banking