Eastern Bankshares Chief Information Officer Sells 21,000 Shares for $427,000
Key Points
CIO Donald Westermann sold 21,256 shares on Jan. 28, 2026, generating a transaction value of approximately $427,500 at a weighted-average price around $20.11 per share.
The sale impacted approximately 30.88% of Westermann's total ownership across all accounts.
All shares traded were from direct personal ownership; no indirect holdings (such as the 401(k) or ESOP accounts) were affected in this transaction.
This disposition leaves Westermann with a materially reduced direct stake, reflecting a substantial drawdown in available capacity following a long period of inactivity in open-market selling.
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On Jan. 28, 2026, Donald Michael Westermann, Chief Information Officer of Eastern Bankshares (NASDAQ:EBC), executed an open-market sale of 21,256 directly held shares, representing a transaction value of ~$427,500 according to the SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares sold (direct) | 21,256 |
| Transaction value | $427,458.16 |
| Post-transaction shares (direct) | 20,860 |
| Post-transaction shares (indirect) | 26,713 |
| Post-transaction value (direct ownership) | $415,739.80 |
Transaction value based on SEC Form 4 reported price ($20.11); post-transaction value based on Jan. 28, 2026 market close value ($415,739.80).
Key questions
- How significant is the size of this transaction relative to Westermann's previous trading activity?
This is the only open-market sale by Westermann on record, representing a net reduction of 21,256 shares or 30.88% of his total ownership, with no prior sell transactions for direct comparison. - Did the sale affect both direct and indirect holdings?
No, the transaction involved only directly held shares; his indirect holdings—totaling 26,713 shares—remain unchanged. - How does the execution price compare to recent market levels?
The weighted-average sale price was around $20.11 per share, in line with the Jan. 28, 2026 market close of $19.93 and modestly below the current price of $20.49 as of Feb. 2, 2026.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $696.7 million |
| Net income (TTM) | $88.21 million |
| Dividend yield | 2.42% |
| 1-year price change | 9.93% |
* 1-year price change calculated using Jan. 28, 2026 as the reference date.
Company snapshot
- Offers a full suite of retail and commercial banking products, including deposit accounts, commercial and consumer loans, wealth management, and insurance services.
- Offers lending activities that generate net interest income and provides insurance, wealth management, and transaction services that contribute to fee-based income.
- Serves retail, small business, commercial, and institutional clients, with a geographic focus on eastern Massachusetts and southern New Hampshire.
Eastern Bankshares, Inc. is a leading regional bank holding company with a diversified revenue base and a strong presence in the New England market. The company leverages its broad product portfolio and deep community relationships to drive growth and maintain a stable deposit base. Its dual focus on traditional banking and fee-based services provides resilience and competitive differentiation within the regional banking sector.
What this transaction means for investors
First, it’s important to note that insiders may sell shares of their company for any number of reasons, including liquidity and tax purposes, so investors shouldn’t attempt to divine too much information from one transaction. Westermann’s sale on Jan. 28 came on the heels of the regional bank’s fourth-quarter and full-year 2025 earnings announcement on Jan. 22. It reported a 62% increase in operating net income year over year and “record levels of Wealth assets under management,” according to CEO Denis Sheahan.
On Nov. 1, 2025, the company completed its merger with HarborOne Bancorp, the holding company of HarborOne Bank. The merger added approximately $4.5 billion in loans and $4.3 billion in deposits, and also impacted the fourth-quarter results to some degree.
The bank is also rewarding shareholders through dividends and share buybacks. It recently announced a regular quarterly dividend of $0.13 per share payable on March 20 to shareholders of record on March 6, 2026. It also repurchased 3.1 million shares of common stock for $55.4 million; that totals 26% of the share repurchase program authorized in October 2025. These moves often signal strong balance sheet management and provide value to shareholders.
The bank stock is up nearly 10% over the last year and more than 60% since July 2023, a notable low when regional banks across the U.S. were in crisis. Now, Eastern Bankshares seems to be reporting strong earnings results, rewarding shareholders, and positioning its business for a strong 2026.
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Sarah Sidlow has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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