EASTERN CO — Director's Dealing 2020

Mar 6, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EASTERN CO (EML)
CIK: 0000031107
Period of Report: 2020-03-04

Reporting Person: SULLIVAN JOHN L III (Vice President & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-03-04	Common Stock	A	16	—	Acquired	29766	Direct
2020-03-04	Common Stock	P	174	$24.50	Acquired	29940	Direct
2020-03-05	Common Stock	P	226	$24.50	Acquired	30166	Direct
2020-03-06	Common Stock	P	226	$25.97	Acquired	30392	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-03-02	Stock Appreciation	$19.10	A	10000	Acquired		Common Stock (10000)	Direct
2018-02-07	Stock Appreciation	$24.90	A	10000	Acquired		Common Stock (10000)	Direct
2019-02-25	Stock Appreciation	$26.30	A	5000	Acquired		Common Stock (5000)	Direct

Footnotes

F1: 16 shares acquired at various prices for the period 1/1/2020 through 3/4/2020 under The Eastern Company Dividend Reinvestment Plan and The Eastern Company Employee Stock Purchase Plan.

F2: On March 2, 2017, 10,000 stock appreciation rights ("SARs") were granted to the reporting person pursuant to the terms of The Eastern Company 2010 Executive Stock Incentive Plan and a stock appreciation rights agreement, at an exercise price of $19.10 per SAR. These SARs shall vest and become exercisable as follows (provided the reporting person remains an employee of the issuer on each applicable vesting date, and the issuer meets certain performance thresholds prescribed in the stock appreciation rights agreement): 3,334 of the granted SARs vest on February 1, 2018; 3,333 of the granted SARs vest on February 1, 2019; and 1,667 of the granted SARs vest on February 1, 2020.

F3: On February 7, 2018, 10,000 stock appreciation rights ("SARs") were granted to the reporting person pursuant to the terms of The Eastern Company 2010 Executive Stock Incentive Plan and a stock appreciation rights agreement, at an exercise price of $24.90 per SAR. These SARs shall vest and become exercisable as follows (provided the reporting person remains an employee of the issuer on each applicable vesting date, and the issuer meets certain performance thresholds prescribed in the stock appreciation rights agreement): 10,000 of the granted SARs vest on February 7, 2021.

F4: On February 25, 2019, 5,000 stock appreciation rights ("SARs") were granted to the reporting person pursuant to the terms of The Eastern Company 2010 Executive Stock Incentive Plan and a stock appreciation rights agreement, at an exercise price of $26.30 per SAR. These SARs shall vest and become exercisable on February 1, 2022, provided the reporting person remains an employee of the issuer on the vesting date and the issuer achieves its Book Value Target at the close of December FY 2021.