ENTERPRISE BANCORP,INC. (NASDAQ:EBTC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.Departure of Directors or Principal Officers; Election of Directors;

Appointment of Principal Officers; Compensatory Arrangements of Certain Officers

(d)Effective July 25, 2017, in accordance with authority provided under the By-Laws of Enterprise Bancorp, Inc. (the “Company”) and its wholly owned subsidiary, Enterprise Bank and Trust Company (the “Bank”), the Boards of Directors of the Company and the Bank approved an increase in the size of the Boards from 18 to 19 and appointed Kenneth S. Ansin to each of the Board of Directors of the Company and the Bank. Mr. Ansin will serve in the 2019 class of directors, until the 2019 annual shareholders’ meeting. Mr. Ansin has also been appointed to serve on the Strategic Planning Committee of the Company and the Bank and the Enterprise Wealth Management Committee of the Bank.

Mr. Ansin has served Enterprise Bank in numerous capacities over the last 25 years, most recently as a regional community banking director, focused on working with residents, businesses and nonprofit organizations in the Nashoba Valley and North Central Massachusetts areas. Mr. Ansin currently serves as co-chair of The Fitchburg Plan, co-chair of the Heywood Hospital capital campaign, and as a member of the North Central Massachusetts Chamber of Commerce Leadership Council. Mr. Ansin holds a Master of Public Administration degree from Harvard University’s Kennedy School of Government, as well as a Bachelor of Science degree in Political Science from the University of Massachusetts at Amherst. He has served as an adjunct/guest lecturer at Brandeis University, Bentley College, Fitchburg State College and Mount Wachusett Community College.

In connection with his appointment, Mr. Ansin will receive the same compensation paid to the Company’s other non-employee directors and committee members, on a pro-rated basis, as disclosed in the Company’s Definitive Proxy Statement filed with the Securities and Exchange Commission on April 3, 2017. Mr. Ansin does not have any arrangements or understandings with any other person to which he was appointed.

Due to his past employment at the Bank, the Board has determined that Mr. Ansin is not an independent director. During the year ended December 31, 2016, the total compensation paid to Mr. Ansin was $235,650, which includes cash compensation, equity awards, and the employer paid portion of specific benefits.

A copy of the Company’s press release announcing Mr. Ansin’s appointment is attached hereto as Exhibit 99.1.

Item 9.01.Financial Statements and Exhibits

(a)Not applicable

(b)Not applicable

(c)Not applicable

(d)The following exhibit is included with this report:

Exhibit 99.1 Press release dated July 25, 2017, announcing the appointment of Kenneth S. Ansin as a director of the Company and the Bank.

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ENTERPRISE BANCORP INC /MA/ Exhibit
EX-99.1 2 exhibit991directoransin.htm EXHIBIT 99.1 Exhibit PRESS RELEASE- IMMEDIATE RELEASECONTACT:     Matthew CogginsSenior Vice President/Chief Marketing OfficerEnterprise [email protected]:        July 25,…
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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.