4/A: Camden National Corp: Executive Vice President Corrects Stock Ownership Reporting Error

Patricia A. Rose, EVP of Camden National Corp, files an amended Form 4 to correct a clerical error in the previous filing, increasing the reported number of beneficially owned shares by 304.

Summary

• Patricia A. Rose, an Executive Vice President at Camden National Corp, filed an amended Form 4 with the SEC to correct an error in her previous filing on March 12, 2024.
• The original filing incorrectly reported that 304 shares were withheld to satisfy tax obligations related to shares vesting under the Management Stock Purchase Plan on March 8, 2024.
• Due to a clerical error, no shares were actually required to be withheld.
• The amended Form 4 increases the total number of shares beneficially owned by Rose by 304 shares, bringing the total to 21,202.12 shares.
• This total includes 7,683 restricted stock units and restricted shares subject to vesting and forfeiture restrictions.

Sentiment

Score: 7

Explanation: The document corrects a clerical error, which is a neutral to slightly positive event as it demonstrates a commitment to accurate reporting. There are no indications of underlying financial issues.

Positives

• The correction of the reporting error ensures accurate information is available to investors.

Negatives

• The initial reporting error could have temporarily misled investors regarding the executive's stock ownership.

Risks

• Clerical errors in SEC filings can erode investor confidence if not promptly corrected.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Correcting errors promptly is important for maintaining investor trust.

Stakeholder Impact

• The correction of the reporting error ensures that shareholders have accurate information regarding insider ownership.

Key Dates