Form 4: Camden National Corp Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
David Ackley, an EVP at Camden National Corp, sold 101 shares of common stock on April 25, 2024, to cover tax obligations related to vested restricted shares.
Summary
- On April 25, 2024, David Ackley, an Executive Vice President at Camden National Corp, disposed of 101 shares of common stock.
- The transaction was executed to cover the minimum tax withholding obligation on restricted shares that vested on the same date.
- The sale price was $30.69 per share.
- Following the transaction, Ackley beneficially owns 7,896.98 shares, including 3,767 restricted stock units and restricted shares subject to vesting and forfeiture restrictions.
Sentiment
Score: 5
Explanation: The document describes a routine transaction (selling shares to cover taxes on vested stock). It doesn't suggest any positive or negative sentiment towards the company's performance.
Industry Context
Executive stock sales to cover tax obligations upon vesting of restricted shares are a common practice and don't necessarily indicate a negative outlook on the company's future.
Key Dates
| Date | Description |
|---|---|
| 04/25/2024 | Date of the transaction: sale of shares and vesting of restricted shares. |
| 04/29/2024 | Date of signature on the Form 4 filing. |
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