Form 4: Camden National Corp Executive Jennifer Lloyd Mirabile Reports Stock Disposals for Tax Obligations
SEC Form 4 Filing
EVP Jennifer Lloyd Mirabile of Camden National Corp reports disposing of common stock to cover tax obligations related to vesting restricted shares and units.
Summary
- Jennifer Lloyd Mirabile, an Executive Vice President at Camden National Corp, filed a Form 4 detailing changes in beneficial ownership.
- On April 26, 2024, Mirabile disposed of 84, 73, and 253 shares of common stock at a price of $30.5 per share.
- These disposals were to satisfy tax withholding obligations on restricted shares and restricted stock units that vested on April 26 and 27, 2024.
- Following these transactions, Mirabile beneficially owns 14,144.42 shares of Camden National Corp, including 3,534 restricted stock units and restricted shares subject to vesting and forfeiture restrictions.
Sentiment
Score: 7
Explanation: The document reflects standard executive compensation practices and tax obligations, indicating a neutral to slightly positive sentiment as it confirms the executive's vested equity.
Industry Context
This filing is a routine disclosure related to executive compensation and tax obligations, common in publicly traded companies.
Comparison to Industry Standards
- Executive compensation practices, including the use of restricted stock units and shares, are common across the financial services industry.
- Companies like Bank of America, JP Morgan Chase, and Wells Fargo also utilize similar equity-based compensation plans for their executives.
- The vesting schedules and tax withholding practices are generally aligned with industry norms and regulatory requirements.
Stakeholder Impact
- The stock disposal has a minimal impact on shareholders as it is a routine transaction.
- The vesting of restricted shares and units incentivizes the executive to contribute to the company's success.
Key Dates
| Date | Description |
|---|---|
| 04/26/2024 | Date of stock disposal for tax obligations. |
| 04/27/2024 | Date of vesting for restricted shares and stock units. |
| 04/30/2024 | Date of Christopher G. Hutchinson's POA signature. |
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