Form 4: Camden National Corp Executive Jennifer Lloyd Mirabile Reports Acquisition of 889 Shares of Common Stock

EVP Jennifer Lloyd Mirabile reports acquiring 889 shares of Camden National Corp common stock through a restricted stock unit grant.

Summary

• On March 29, 2024, Jennifer Lloyd Mirabile, an Executive Vice President at Camden National Corp, acquired 889 shares of common stock.
• The acquisition was a grant of restricted stock units under the company's 2021-2023 Long-Term Performance Share Plan.
• These restricted stock units are scheduled to vest on April 27, 2024, contingent upon continued employment through that date.
• Each restricted stock unit represents the right to receive one share of common stock upon vesting.
• Following the transaction, Mirabile beneficially owns 14,677.42 shares of common stock, which includes 5,245 restricted stock units and restricted shares subject to vesting and forfeiture restrictions.

Sentiment

Score: 6

Explanation: Neutral sentiment as it reflects a standard executive compensation practice.

Positives

• The grant of restricted stock units aligns the executive's interests with the long-term performance of the company.
• Continued employment is required for vesting, incentivizing the executive to remain with the company.

Risks

• The restricted stock units are subject to forfeiture if the executive's employment terminates before the vesting date.

Future Outlook

The executive's compensation is tied to the company's performance through the vesting of restricted stock units.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency regarding the transactions of company insiders.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding executive compensation.
• The vesting requirements may incentivize the executive to focus on long-term value creation for shareholders.

Key Dates