# EDGAR Filing Document

**Accession Number:** 0001018399
**File Stem:** 0001127602-25-018338
**Filing Date:** 2025-7
**Character Count:** 8193
**Document Hash:** 61dc6a605e78ae1b926166b708edc126
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001127602-25-018338.hdr.sgml**: 20250701

**ACCESSION NUMBER**: 0001127602-25-018338

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250701

**FILED AS OF DATE**: 20250701

**DATE AS OF CHANGE**: 20250701

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** DUNCAN GEORGE L
- **CENTRAL INDEX KEY:** 0001282776

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-33912
- **FILM NUMBER:** 251096001

**MAIL ADDRESS:**
- **STREET 1:** 222 MERRIMACK ST
- **CITY:** LOWELL
- **STATE:** MA
- **ZIP:** 01852
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ENTERPRISE BANCORP INC /MA/
- **CENTRAL INDEX KEY:** 0001018399
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 222 MERRIMACK ST
- **CITY:** LOWELL
- **STATE:** MA
- **ZIP:** 01852
- **BUSINESS PHONE:** 9784599000

**MAIL ADDRESS:**
- **STREET 1:** 222 MERRIMACK ST
- **CITY:** LOWELL
- **STATE:** MA
- **ZIP:** 01852

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[x] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>DUNCAN GEORGE L<br><sub>(Last) (First) (Middle)</sub><br>C/O ENTERPRISE BANCORP<br>222 MERRIMACK STREET<br><sub>(Street)</sub><br>LOWELL, MA 01852<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-07-01 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_Chairman_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>ENTERPRISE BANCORP INC /MA/ [ EBTC ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2025-07-01 |  | F |  | 3437 | D | $39.64 | 360206<sup>(1)</sup> | D |  |
| Common Stock | 2025-07-01 |  | D |  | 360206 | D | <sup>(2)</sup> | 0<sup>(1)</sup> | D |  |
| Common Stock | 2025-07-01 |  | D |  | 18445 | D | <sup>(2)</sup> | 0 | I | By Estate |
| Common Stock | 2025-07-01 |  | D |  | 49164.399 | D | <sup>(2)</sup> | 0 | I | By Trust |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Option (Right to Buy) | $21.86 | 2025-07-01 |  | D |  |  | 3095 | <sup>(3)</sup> | 2026-03-14 | Common Stock | 3095 | <sup>(3)</sup> | 0 | D |  |
| Option (Right to Buy) | $30.46 | 2025-07-01 |  | D |  |  | 2157 | <sup>(3)</sup> | 2027-03-20 | Common Stock | 2157 | <sup>(3)</sup> | 0 | D |  |
| Option (Right to Buy) | $34.33 | 2025-07-01 |  | D |  |  | 2040 | <sup>(3)</sup> | 2028-03-20 | Common Stock | 2040 | <sup>(3)</sup> | 0 | D |  |
| Option (Right to Buy) | $29.84 | 2025-07-01 |  | D |  |  | 2810 | <sup>(3)</sup> | 2029-03-19 | Common Stock | 2810 | <sup>(3)</sup> | 0 | D |  |
| Option (Right to Buy) | $28.22 | 2025-07-01 |  | D |  |  | 2909 | <sup>(3)</sup> | 2030-03-17 | Common Stock | 2909 | <sup>(3)</sup> | 0 | D |  |
| Stock Option (Right to Buy) | $32.73 | 2025-07-01 |  | D |  |  | 2046 | <sup>(3)</sup> | 2031-03-15 | Common Stock | 2046 | <sup>(3)</sup> | 0 | D |  |
| Stock Option (Right to Buy) | $38.58 | 2025-07-01 |  | D |  |  | 1698 | <sup>(3)</sup> | 2032-03-14 | Common Stock | 1698 | <sup>(3)</sup> | 0 | D |  |

---

### Footnotes:

(1) In accordance with the Merger Agreement, all unvested shares of restricted stock automatically vested in full at the Effective Time (as defined in the Merger Agreement) to the extent not previously forfeited, and was considered outstanding shares of Enterprise common entitled to receive the Merger Consideration (as defined in the Merger Agreement).

(2) Pursuant to the Agreement and Plan of Merger, dated as of December 8, 2024 (the "Merger Agreement"), by and among Enterprise Bancorp, Inc. ("Enterprise"), Enterprise Bank and Trust Company, Independent Bank Corp. ("Independent") and Rockland Trust Company, each issued and outstanding share of Enterprise common stock was converted into the right to receive (i) $2.00 in cash and (ii) 0.60 shares of Independent common stock (subject to the payment of cash in lieu of fractional shares).

(3) In accordance with the Merger Agreement, each option to purchase Issuer common stock, whether vested or unvested, automatically converted to the right to receive a cash payment equal to (i) the number of shares of Enterprise common stock provided for in such option and (ii) the excess, if any, of the Per Share Cash Equivalent Consideration (as defined in the Merger Agreement) over the exercise price per share of Enterprise common stock provided for in such option, which cash payment was made without interest and was net of all applicable withholding taxes.

**Signature:** /s/ Joseph R. Lussier as attorney-in-fact for George L. Duncan  
**Date:** 2025-07-01

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**