Meridian Interstate Bancorp, the holding company for East Boston Savings Bank (EBSB), which went public in January of this year, has implemented a stock-based equity incentive plan for its employees.

Under the plan, every EBSB employee was awarded at least 50 shares of Meridian Interstate Bancorp stock.  

The number of shares EBSB employees received was based on several factors, including the employment grade and years of service with EBSB. The company distributed more than 162,000 shares to 225 employees, worth more than $1.5 million.