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An announcement from Enterprise Bancorp ( (EBTC) ) is now available.
Enterprise Bancorp has announced an amendment to the employment agreement of its CEO, Steven R. Larochelle, in anticipation of a merger with Independent Bank Corp. This amendment outlines the terms of Larochelle’s compensation upon termination following the merger, including a lump sum severance payment and adherence to non-competition covenants. Additionally, the company has suspended its Dividend Reinvestment and Stock Purchase Plan as of December 9, 2024, in preparation for the merger, impacting how dividends will be managed and communicated to shareholders.
More about Enterprise Bancorp
Enterprise Bancorp, Inc. operates in the banking industry, providing financial services through its wholly owned subsidiary, Enterprise Bank and Trust Company, a Massachusetts-chartered trust company. The company focuses on offering a range of banking services to customers in its market area.
YTD Price Performance: 38.63%
Average Trading Volume: 28,132
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $537.5M
For an in-depth examination of EBTC stock, go to TipRanks’ Stock Analysis page.
