Eastern Bankshares (EBC) Proxy Filing summary

Executive summary

• Supplement corrects a clerical error in the 2024 Summary Compensation Table, increasing the grant date fair value of two stock awards for a Named Executive Officer by $320,757.

• Corrections impact the reported 2024 compensation for the CEO and related Pay Versus Performance disclosures.

• Shareholders who have already voted do not need to take action unless they wish to change their vote.

Executive compensation and say-on-pay

• 2024 Summary Compensation Table updated: CEO's stock awards increased from $530,309 to $851,066, total compensation adjusted accordingly.

• Pay Versus Performance section revised: 2024 "Average SCT Total for Non-PEO NEOs" increased from $1,777,413 to $1,841,564.

• Deduction for stock awards in the compensation adjustment table increased from $633,879 to $698,031.

• Compensation tables detail salary, bonus, non-equity incentives, stock awards, pension changes, and other compensation for NEOs for 2022–2024.

• Equity awards valued using grant date fair value and year-end fair value, with adjustments for performance-based vesting and market conditions.

Voting matters and shareholder proposals

• Voting instructions remain unchanged; previously submitted proxies are still valid unless revoked.