Form 4: Camden National Corp EVP Michael R. Archer Reports Changes in Beneficial Ownership

EVP Michael R. Archer of Camden National Corp reports acquisition and disposal of common stock due to tax obligations and deferred stock awards.

Summary

• On March 14, 2024, Michael R. Archer, EVP of Camden National Corp, disposed of 35 shares of common stock at $31.26 per share to cover tax obligations related to vested restricted stock units.
• On March 15, 2024, Archer acquired 1,083 shares of common stock through deferred stock awards under the Defined Contribution Retirement Plan (DCRP) at a price of $0.
• Following these transactions, Archer's beneficial ownership totals 12,737.11 shares, including 8,313 restricted stock units and restricted shares subject to vesting and forfeiture restrictions.

Sentiment

Score: 5

Explanation: Neutral sentiment as the filing reflects routine transactions related to executive compensation and tax obligations.

Positives

• The acquisition of 1,083 shares through the DCRP indicates continued participation in the company's retirement plan.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in the financial services industry.

Comparison to Industry Standards

• Executive compensation packages often include stock options and restricted stock units to align management's interests with those of shareholders.
• Deferred compensation plans like the DCRP are standard practice in the banking industry to attract and retain talent.
• Tax-related stock disposals are a common occurrence when restricted stock units vest.

Stakeholder Impact

• The transactions have a minimal direct impact on shareholders, as they relate to executive compensation and tax obligations.

Key Dates