Form 4: Camden National Corp Director Rebecca Hatfield Acquires Shares in Lieu of Fees

Director Rebecca Hatfield acquired 363 shares of Camden National Corp common stock on June 20, 2024, in lieu of director fees.

Summary

• On June 20, 2024, Rebecca Hatfield, a director of Camden National Corp, acquired 363 shares of common stock.
• The shares were acquired at a price of $31.67 per share.
• This acquisition was made under the company's 2022 Equity and Incentive Plan in lieu of director fees.
• Following the transaction, Hatfield directly owns 4,661.42 shares of Camden National Corp.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. A director acquiring shares is generally a good sign, indicating confidence in the company's future. The use of equity in lieu of fees is also a prudent financial move.

Positives

• Director's acquisition of shares demonstrates confidence in the company.
• The use of equity in lieu of fees conserves company cash.

Industry Context

Director share acquisitions are common and often viewed positively by investors as they align management's interests with those of shareholders. Using equity in lieu of fees is a common practice to conserve cash.

Comparison to Industry Standards

• Director share ownership is a common practice across publicly traded companies.
• Companies like Bank of America and JPMorgan Chase also have similar equity incentive plans for their directors.
• The percentage of director ownership varies based on company size and industry.

Stakeholder Impact

• Shareholders may view the director's share acquisition positively.
• The company benefits from conserving cash by issuing equity instead of paying director fees in cash.

Key Dates