Form 4: Camden National Corp Executive Andrew Forbes Acquires 400 Shares

EVP Andrew Forbes of Camden National Corp acquired 400 shares of common stock at $31.28 per share on March 6, 2025, under the company's Management Stock Purchase Plan.

Summary

• On March 6, 2025, Andrew Forbes, an Executive Vice President at Camden National Corp, acquired 400 shares of common stock.
• The shares were purchased at a price of $31.28 each under the Third Amended and Restated Management Stock Purchase Plan (MSPP).
• These shares will cliff-vest two years after the issuance date.
• Following the transaction, Forbes directly owns 2,511 shares, which includes restricted stock units and restricted shares subject to vesting and forfeiture restrictions.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine transaction, but the executive's purchase indicates a positive, albeit mild, confidence in the company's future.

Positives

• Executive's participation in the Management Stock Purchase Plan demonstrates confidence in the company.
• The MSPP provides executives with a discounted opportunity to acquire company stock, aligning their interests with shareholders.

Future Outlook

The acquired shares will cliff-vest two years after the issuance date, indicating a longer-term commitment from the executive.

Industry Context

Form 4 filings are routine disclosures of insider transactions, providing transparency into the buying and selling activities of company executives and directors. These filings are closely watched by investors for signals about management's view of the company's prospects.

Comparison to Industry Standards

• Executive stock purchase plans are common in the financial services industry to align management interests with shareholder value.
• The vesting schedule of two years is a typical arrangement to incentivize long-term performance.
• Comparing Forbes' holdings and transactions to those of executives at peer banks like Bangor Savings Bank or KeyCorp could provide further context.

Stakeholder Impact

• The transaction could have a slightly positive impact on shareholder sentiment, as it signals confidence from a company executive.

Key Dates