Form 4: Camden National Corp EVP Michael Archer Reports Stock Disposals to Cover Tax Obligations
SEC Form 4 Filing
Michael Archer, EVP of Camden National Corp, reported disposing of shares to cover tax obligations related to vesting restricted stock units.
Summary
- On March 11 and 12, 2024, Michael R. Archer, an Executive Vice President at Camden National Corp, disposed of shares of common stock to cover tax withholding obligations.
- On March 11, 52 shares were disposed of at a price of $33.11.
- On March 12, 35 shares were disposed of at a price of $32.58.
- Following these transactions, Archer directly owns 11,644.11 shares of Camden National Corp, which includes 7,450 restricted stock units and restricted shares subject to vesting and forfeiture restrictions.
Sentiment
Score: 5
Explanation: The document reflects routine transactions related to executive compensation and tax obligations, with no indication of unusual or concerning activity.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Disposals to cover tax obligations are common when restricted stock units vest.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to tax obligations from vested stock.
Key Dates
| Date | Description |
|---|---|
| 03/11/2024 | Disposal of 52 shares of Common Stock at $33.11 due to tax obligations. |
| 03/12/2024 | Disposal of 35 shares of Common Stock at $32.58 due to tax obligations. |
| 03/13/2024 | Date of report submission. |
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