Form 4: Camden National Corp EVP Michael R. Archer Reports Tax Withholding Share Disposal
SEC Form 4 Filing
EVP Michael R. Archer of Camden National Corp reports disposing of 111 common stock shares to cover tax obligations related to vested restricted shares.
Summary
- On April 25, 2024, Michael R. Archer, an EVP at Camden National Corp, disposed of 111 shares of common stock.
- The shares were disposed of to satisfy tax withholding obligations on restricted shares that vested on the same date.
- The transaction was executed at a price of $30.69 per share.
- Following the transaction, Archer directly owns 13,248.11 shares of Camden National Corp, including 8,548 restricted stock units and restricted shares subject to vesting and forfeiture restrictions.
Sentiment
Score: 5
Explanation: This is a routine transaction related to tax obligations, so it has a neutral sentiment.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors. This filing indicates a standard tax-related share disposal, which is common when restricted stock vests.
Stakeholder Impact
- The transaction is unlikely to have a significant impact on shareholders, as it is a standard procedure for covering tax obligations.
Key Dates
| Date | Description |
|---|---|
| 04/25/2024 | Date of transaction: disposal of shares for tax withholding and vesting of restricted shares. |
| 04/29/2024 | Date of signature on the report. |
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