(d) The Board of Directors of the Company recommended in its definitive proxy statement for the Annual Meeting that the Company’s future advisory votes on executive compensation be held every three years. Consistent with the Board of Directors’ recommendation and in light of a majority of advisory votes of the shareholders of the Company being cast in favor of holding a non-binding advisory vote every three years, as noted in the May Form 8-K, the Board of Directors determined to hold a shareholder advisory vote to approve the compensation of the Company’s named executive officers compensation once every three years until the next required vote on the frequency of shareholder votes on executive compensation.

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About ENTERPRISE BANCORP, INC. (NASDAQ:EBTC)

Enterprise Bancorp, Inc. operates as the parent holding company of Enterprise Bank and Trust Company (the Bank). The Company is engaged in the business of gathering deposits from the general public and investing primarily in loans and investment securities and utilizing the resulting cash flows to conduct operations, expand the branch network, and pay dividends to stockholders. Through the Bank and its subsidiaries, it offers a range of commercial and consumer loan products, deposit products and cash management services. It also offers investment advisory and wealth management, trust and insurance services. It offers commercial mortgage loans; construction and land development loans; secured and unsecured commercial loans; lines of credit, and standby letters of credit. The Company provides a range of investment advisory and management services delivered through two channels, Enterprise Investment Advisors and Enterprise Investment Services.