Berkshire Hills Bancorp Inc., a Delaware corporation, announced an update regarding its merger transaction with Brookline. As of May 21, 2025, a joint proxy statement/prospectus was filed in preparation for the annual meeting of Berkshire stockholders. The proposed transaction between Berkshire and Brookline is completed, with an anticipated 84,260,582 shares of common stock expected to be outstanding post-completion. Additionally, Berkshire has decided not to grant any new stock options or equity awards under its 2022 and 2018 Equity Incentive Plans from the merger agreement date through the closing of the transaction, contingent on the approval of the 2025 Stock Option and Incentive Plan by stockholders. If approved, 822,719 shares available under the previous plans will be canceled.
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