secwatch.observer — SEC 8-K summary
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Issuer:     NB Bancorp, Inc. (NBBK)
CIK:        0001979330
Form:       8-K
Filed at:   2025-06-05T23:59:59+00:00
Accession:  0001558370-25-008435
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NB Bancorp to acquire Provident Bancorp; shareholders get 0.691 shares or $13 cash
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- Election of 0.691 NBBK shares or $13 cash per Provident share, prorated to 50% stock/50% cash.
- Merger expected to close Q4 2025; termination fee of $8.5M payable by Provident under certain conditions.
- Voting agreements with Provident directors/officers covering ~4.17% of shares; they agree to vote for the deal.
- Post-merger, Provident CEO Joseph B. Reilly joins NBBK and Needham Bank boards; consulting fee $27,500/month for 18 months plus $1.05M in lump sums.
- Provident equity awards will be cashed out; options and restricted stock vest at effective time.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1979330/000155837025008435/0001558370-25-008435-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1979330/000155837025008435/nbbk-20250605x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-25-008435

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