Form 4: Camden National Corp Executive Michael R. Archer Reports Stock Disposals for Tax Obligations
SEC Form 4 Filing
EVP Michael R. Archer of Camden National Corp reports disposals of common stock to cover tax obligations related to vesting restricted shares and stock units.
Summary
- On April 26, 2024, Michael R. Archer, an EVP at Camden National Corp, disposed of shares of common stock to cover tax withholding obligations.
- A total of 69 shares were disposed of at a price of $30.5 to cover taxes on restricted shares vesting on April 26, 2024.
- Another 69 shares were disposed of at $30.5 to cover taxes on restricted shares vesting on April 27, 2024.
- Additionally, 183 shares were disposed of at $30.5 to cover taxes on restricted stock units vesting on April 27, 2024, under the 2021-2023 Long-Term Performance Plan.
- Following these transactions, Archer beneficially owns 12,927.11 shares of Camden National Corp, which includes 7,446 restricted stock units and restricted shares subject to vesting and forfeiture restrictions.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing related to stock transactions for tax purposes. It doesn't indicate any significant positive or negative developments for the company, hence a neutral sentiment score.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It reflects the standard practice of executives receiving stock-based compensation and the subsequent tax obligations.
Stakeholder Impact
- The transactions have a minimal impact on shareholders, as they are related to executive compensation and tax obligations.
- Employees who are also shareholders may be interested in the details of executive stock transactions.
Key Dates
| Date | Description |
|---|---|
| 04/26/2024 | Date of earliest transaction: Disposal of shares to cover tax obligations on vested restricted shares. |
| 04/26/2024 | Shares withheld in order to satisfy the minimum tax withholding obligation on restricted shares that vested on April 26, 2024. |
| 04/27/2024 | Shares withheld in order to satisfy the minimum tax withholding obligation on restricted shares that vested on April 27, 2024. |
| 04/27/2024 | Shares withheld in order to satisfy the minimum tax withholding obligation on restricted stock units that were granted under the issuer's 2021-2023 Long-Term Performance Plan that vested on April 27, 2024. |
| 04/30/2024 | Date of signature for the Form 4 filing. |
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