Eastern Bankshares (EBC) Proxy filing summary

Executive summary

• The annual meeting is scheduled for May 18, 2026, with shareholders voting on director elections, executive compensation, and auditor ratification.

• Shareholders can vote online, by phone, mail, or during the virtual meeting, with a record date of March 13, 2026.

• The company has grown significantly since its IPO, with assets rising from $16B in 2020 to $30.6B in 2025, and strong operating results in 2025 including a 62% increase in operating net income.

• The merger with HarborOne expanded the company’s footprint and added $4.5B in loans and $4.3B in deposits.

• The company emphasizes strong governance, board refreshment, and alignment of executive and director interests with shareholders.

Voting matters and shareholder proposals

• Shareholders will vote to elect six directors for one-year terms, approve executive compensation in an advisory vote, and ratify Ernst & Young LLP as the independent auditor for 2026.

• Shareholder proposals for the 2027 meeting must be submitted by November 26, 2026, with advance notice provisions detailed in the bylaws.

Board of directors and corporate governance

• The board consists of 17 directors, with 47% new since 2023, and will be fully declassified for annual elections starting in 2027.

• A director retirement policy requires retirement at age 75.

• The board has four standing committees: Audit, Compensation and Human Capital Management, Nominating and Governance, and Risk Management.

• The majority of directors are independent, and the board includes a Lead Independent Director.

• Board and committee self-evaluations are conducted annually.