Form 4: Camden National Corp EVP Acquires Shares Under Management Stock Purchase Plan

David Ackley, EVP of Camden National Corp, acquired 206 shares of common stock at a discounted price under the company's Management Stock Purchase Plan.

Summary

• On March 7, 2024, David Ackley, an Executive Vice President at Camden National Corp (CAC), acquired 206 shares of common stock.
• The shares were purchased at a price of $24.58 each, representing a one-fourth discount from the closing share price on that date, under the Third Amended and Restated Management Stock Purchase Plan (MSPP).
• These shares will vest two years after the issuance date.
• Following the transaction, Ackley beneficially owns 7,760.98 shares, which includes 4,400 restricted stock units and restricted shares subject to vesting and forfeiture restrictions.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. An executive purchasing shares at a discount suggests confidence, but it's a routine transaction under a pre-existing plan.

Positives

• The acquisition of shares by an executive demonstrates confidence in the company's future prospects.
• The Management Stock Purchase Plan (MSPP) provides an opportunity for executives to increase their stake in the company.

Industry Context

Executive stock purchases are common in the financial industry as a way to align management's interests with those of shareholders.

Key Dates