Form 4: Camden National Corp Executive Ryan A. Smith Reports Acquisition of 322 Shares
SEC Filing
EVP Ryan A. Smith of Camden National Corp reports acquiring 322 shares of common stock through a grant of restricted stock units.
Summary
- On March 28, 2025, Ryan A. Smith, an Executive Vice President at Camden National Corp, acquired 322 shares of common stock.
- This acquisition was a grant of restricted stock units under the issuer's 2022-2024 Long-Term Performance Share Plan.
- These restricted stock units are scheduled to vest on April 26, 2025, 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 reported transaction, Smith beneficially owns 21,992 shares, which includes 9,803 restricted stock units and restricted shares subject to vesting and forfeiture restrictions.
Sentiment
Score: 7
Explanation: The document reflects a standard executive compensation practice, indicating confidence in the company's future performance and aligning executive interests with shareholder value. It is a neutral to slightly positive event.
Positives
- The grant of restricted stock units aligns executive incentives with the long-term performance of Camden National Corp.
- The vesting requirement encourages continued employment and commitment from the executive.
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 aligns executive interests with shareholder value by incentivizing long-term performance.
Key Dates
| Date | Description |
|---|---|
| 03/28/2025 | Transaction date: Ryan A. Smith acquired 322 shares of common stock. |
| 04/01/2025 | Date of signature for the report. |
| 04/26/2025 | Vesting date for the restricted stock units, subject to continued employment. |
Keywords
Form 4, Beneficial Ownership, Restricted Stock Units, Camden National Corp, Executive Compensation, CAC, Ryan A. Smith
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