4/A: Camden National Corp Executive Corrects Stock Ownership Reporting Error

An amended SEC filing reveals a correction to a previous report regarding stock withholding obligations for a Camden National Corp executive, increasing the reported number of shares beneficially owned.

Summary

• Jennifer Lloyd Mirabile, an EVP at Camden National Corp, filed an amended Form 4 with the SEC to correct an error in a previous filing on March 12, 2024.
• The original filing incorrectly reported that 232 shares were withheld to satisfy tax obligations related to vested shares under the Management Stock Purchase Plan on March 8, 2024.
• A clerical error led to the incorrect calculation of withholding obligations, and no shares were actually required to be withheld.
• The amended filing increases the total amount of shares beneficially owned by the reporting person by 232 shares, bringing the total to 12,802.42 shares of common stock.
• This total includes 5,112 restricted stock units and restricted shares subject to vesting and forfeiture restrictions.

Sentiment

Score: 7

Explanation: The document is a routine correction of a clerical error. While the initial error is a minor negative, the prompt correction is a positive. Overall, the impact is neutral.

Positives

• The company promptly corrected the error in the initial filing, demonstrating transparency.

Negatives

• The initial error in calculating tax withholding obligations led to an inaccurate report of stock ownership.

Industry Context

This filing is a routine disclosure related to executive stock ownership and is common for publicly traded companies. It ensures transparency and compliance with SEC regulations.

Stakeholder Impact

• The correction ensures accurate information for shareholders regarding executive stock ownership.

Key Dates