Form 4: Camden National Corp Executive Andrew Forbes Reports Acquisition and Disposal of Common Stock

EVP Andrew Forbes reports acquisition of 1,293 shares and disposal of 94 shares of Camden National Corp common stock.

Summary

• Andrew Forbes, an EVP at Camden National Corp, filed a Form 4 detailing changes in beneficial ownership.
• On April 29, 2025, Forbes acquired 1,293 shares of common stock at a price of $39.22 per share.
• These shares were granted as restricted stock awards under the company's 2022 Equity and Incentive Plan, vesting pro-rata over three years, contingent on continued employment.
• On April 30, 2025, Forbes disposed of 94 shares at $38.52 per share to cover tax withholding obligations on vested restricted shares.
• Following these transactions, Forbes beneficially owns 4,161 shares of Camden National Corp common stock, including 3,568 restricted stock units and shares subject to vesting restrictions.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The filing reflects standard executive compensation practices and tax obligations. The acquisition of restricted stock is a slightly positive signal, while the disposal for tax purposes is neutral.

Positives

• The acquisition of restricted stock indicates confidence in the company's future performance, as the shares vest over three years contingent on continued employment.

Negatives

• The disposal of shares to cover tax obligations, while routine, slightly reduces Forbes' holdings.

Risks

• The vesting of restricted stock is contingent on continued employment, creating a potential risk if Forbes were to leave the company before full vesting.

Future Outlook

The restricted stock awards are scheduled to vest pro-rata over the next three years, subject to continued employment.

Industry Context

Form 4 filings are a routine part of executive compensation and provide transparency into the trading activities of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's prospects.

Comparison to Industry Standards

• Executive compensation packages including restricted stock are common in the financial services industry.
• Vesting schedules of three years are typical for restricted stock awards.
• Tax withholding practices related to vesting are standard procedure.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.
• The vesting of restricted stock aligns executive interests with shareholder value over the long term.

Key Dates

Keywords

Form 4, Beneficial Ownership, Restricted Stock, Camden National Corp, Andrew Forbes, CAC, Equity and Incentive Plan