Eastern Co. Reports Material Agreements and Financials

TL;DR

Eastern Co. signed and terminated material agreements, creating new financial obligations. Check the details.

AI Summary

On October 28, 2025, The Eastern Company entered into a material definitive agreement and also terminated a material definitive agreement. The company also created a direct financial obligation or an obligation under an off-balance sheet arrangement. The filing includes financial statements and exhibits.

Why It Matters

This 8-K filing indicates significant changes in Eastern Co.'s contractual and financial obligations, which could impact its future financial performance and operational structure.

Risk Assessment

Risk Level: medium — The entry into and termination of material definitive agreements, along with the creation of new financial obligations, suggests potential shifts in the company's business strategy or financial health.

Key Players & Entities

• EASTERN CO (company) — Registrant
• October 28, 2025 (date) — Date of earliest event reported
• 20251103 (date) — Filing Date

FAQ

Key Financial Figures

• $100 million — t Agreement provides the Company with a $100 million five-year senior secured revolving cred
• $5 million — er the revolving credit facility, up to $5 million is available for letters of credit and
• $75 m — ent under the Credit Agreement by up to $75 million, provided that one or more lendin
• $36 million — 025, the Company borrowed approximately $36 million under the Credit Agreement and used suc
• $64 million — d such funds to repay the approximately $64 million balance outstanding under the Company's
• $36 m — y all outstanding obligations, totaling $36 million, and terminate all outstanding co
• $60 million — . The Prior Credit Agreement included a $60 million term portion and a $50 million revolvin
• $50 million — cluded a $60 million term portion and a $50 million revolving commitment portion. The Compa
• $750,000 b — red quarterly principal payments of (i) $750,000 beginning on September 30, 2023 through J
• $1,125,000 b — er 30, 2023 through June 30, 2025, (ii) $1,125,000 beginning on September 30, 2025 through J
• $1,500,000 b — , 2025 through June 30, 2027, and (iii) $1,500,000 beginning on September 30, 2027 through M

Filing Documents

• eml_8k.htm (8-K) — 41KB
• eml_ex101.htm (EX-10.1) — 928KB
• eml_ex102.htm (EX-10.2) — 327KB
• 0001654954-25-012528.txt ( ) — 1663KB
• eml-20251028.xsd (EX-101.SCH) — 5KB
• eml-20251028_lab.xml (EX-101.LAB) — 14KB
• eml-20251028_cal.xml (EX-101.CAL) — 1KB
• eml-20251028_pre.xml (EX-101.PRE) — 9KB
• eml-20251028_def.xml (EX-101.DEF) — 2KB
• eml_8k_htm.xml (XML) — 4KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On October 28, 2025, The Eastern Company (the "Company") entered into a Credit Agreement (the "Credit Agreement") with the lenders from time to time party thereto, and Citizens Bank, N.A., as the administrative agent (in such capacity, the "Agent"), as an LC issuer, and as the swing line lender, and a related Pledge and Security Agreement (the "Security Agreement"). The Credit Agreement provides for the extension of credit to the Company in the form of revolving loans, swing line loans and letters of credit, at any time and from time to time during the term of the Credit Agreement. The Credit Agreement provides the Company with a $100 million five-year senior secured revolving credit facility. Under the revolving credit facility, up to $5 million is available for letters of credit and up to $5 million is available for swing line loans. The Company can elect to increase the revolving commitment under the Credit Agreement by up to $75 million, provided that one or more lending institutions (whether or not existing lenders under the Credit Agreement) voluntarily agree to provide the additional commitment. Revolving loans under the Credit Agreement bear interest, at the election of the Company, at (a) term SOFR for a tenor equivalent to the applicable interest period, subject to a 0% floor, plus an applicable margin varying from 1.375% to 2.125% based on the Company's Senior Net Leverage Ratio (as defined in the Credit Agreement) from time to time (such loans being referred to as "SOFR Loans"), (b) an alternate base rate equal to the greatest of (i) the prime rate, (ii) the federal funds rate plus 0.50% per annum, and (iii) the daily term SOFR for a one-month interest period ("Daily SOFR") plus 1.00%, in each case subject to a 0% floor, plus an applicable margin varying from 0.375% to 1.125% based on the Company's Senior Net Leverage Ratio (such loans being referred to as "ABR Loans"), or (C) Daily SOFR, subject

02 Termination of a Material Definitive Agreement

Item 1.02 Termination of a Material Definitive Agreement. On October 28, 2025, the Company used the proceeds upon the closing of the Credit Agreement to repay all outstanding obligations, totaling $36 million, and terminate all outstanding commitments under that certain credit agreement, dated as of June 16, 2023 (as amended, amended and restated, supplemented and otherwise modified, the "Prior Credit Agreement"), among the Company, the lenders from time to time party thereto, TD Bank, N.A., as the administrative agent, as an LC issuer, and as the swing line lender. The Prior Credit Agreement included a $60 million term portion and a $50 million revolving commitment portion. The Company maintained a variety of relationships with several of the lenders that were parties to the Prior Credit Agreement, including comprehensive banking services that involved most of the Company's treasury receipt and disbursement operations, foreign currency borrowing arrangements, letter of credit and foreign exchange needs. The term loan portion of the Prior Credit Agreement required quarterly principal payments of (i) $750,000 beginning on September 30, 2023 through June 30, 2025, (ii) $1,125,000 beginning on September 30, 2025 through June 30, 2027, and (iii) $1,500,000 beginning on September 30, 2027 through March 31, 2028, with the balance of the term loan payable on the maturity date of June 16, 2028. The revolving commitment portion of the Prior Credit Agreement had an annual commitment fee of 0.25% based on the unused portion of the revolver. The Company did not have any borrowings outstanding under the revolving commitment portion of the Prior Credit Agreement immediately prior to termination of the Prior Credit Agreement. The interest rates on the term loan portion of the Prior Credit Agreement varied based on term SOFR plus an adjustment of 10.00 basis points, plus an applicable margin of 1.875% to 2.625%, depending on the Company's senior net leverage ratio. Borrowings u

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Title 10.1* Credit Agreement, dated as of October 28, 2025, among the Company as borrower, the lenders from time to time party thereto, and Citizens Bank, N.A., as the administrative agent, as an LC issuer, and as the swing line lender. 10.2* Pledge and Security Agreement, dated as of October 28, 2025, among The Eastern Company as borrower, the guarantors party thereto, the lenders from time to time party thereto and Citizens Bank, N.A, as the administrative agent. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * Certain schedules and exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company agrees to provide, on a supplemental basis, a copy of any omitted schedules and exhibits to the SEC or its staff upon request. 4

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. The Eastern Company Date: November 3, 2025 By: /s/Nicholas Vlahos Nicholas Vlahos Chief Financial Officer 5

View Full Filing

View this 8-K filing on SEC EDGAR