Form 4: Camden National Corp Director Soderberg Acquires Shares in Lieu of Fees and Through Dividend Reinvestment

Director Carl John Soderberg acquired shares of Camden National Corp through the company's equity incentive plan and dividend reinvestment program.

Summary

• On March 20, 2025, Carl John Soderberg, a director of Camden National Corp, acquired 467 shares of common stock at a price of $41.44 per share.
• These shares were acquired under the company's 2022 Equity and Incentive Plan in lieu of director fees.
• Soderberg also indirectly acquired 870.812 shares since the last filing through participation in the company's dividend reinvestment program.
• Following these transactions, Soderberg beneficially owns 96,568.632 shares of Camden National Corp common stock.

Sentiment

Score: 7

Explanation: The document reflects standard insider transactions, indicating a neutral to slightly positive sentiment due to the director's increased stake in the company.

Positives

• Director's participation in the equity incentive plan demonstrates alignment with shareholder interests.
• Continued participation in the dividend reinvestment program shows confidence in the company's future performance.

Industry Context

Directors receiving shares in lieu of fees and participating in dividend reinvestment programs are common practices in the financial industry, aligning management interests with shareholders and demonstrating confidence in the company's long-term prospects.

Comparison to Industry Standards

• Many regional banks offer equity incentive plans to their directors as part of their compensation packages.
• Dividend reinvestment programs are also a standard offering, allowing shareholders to increase their holdings over time.
• Comparing Soderberg's holdings and participation in these programs to those of directors at similar-sized regional banks (e.g., Bangor Savings Bank, Northeast Bank) would provide a benchmark for assessing his level of investment and alignment with shareholder interests.

Related Party Transactions

• The acquisition of shares in lieu of director fees is a related party transaction.

Stakeholder Impact

• The increased insider ownership could be viewed positively by shareholders, signaling confidence in the company's prospects.
• The dividend reinvestment program benefits shareholders by allowing them to increase their holdings over time.

Key Dates

Keywords

Camden National Corp, Director, Share Acquisition, Equity Incentive Plan, Dividend Reinvestment, Beneficial Ownership, Form 4