Form 4: Camden National Corp Executive Vice President David Ackley Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Executive Vice President David Ackley reports the withholding of shares to cover tax obligations related to vesting restricted shares and stock units.
Summary
- On April 25, 2025, David Ackley, an Executive Vice President at Camden National Corp, had shares withheld to cover tax obligations.
- A total of 86 shares were withheld at a price of $38.74 to satisfy tax obligations on restricted shares that vested on April 25, 2025.
- An additional 54 shares were withheld at $38.74 to cover tax obligations on restricted shares vesting on April 26, 2025.
- Furthermore, 43 shares were withheld at $38.74 to satisfy tax obligations on restricted stock units vesting on April 26, 2025, under the 2022-2024 Long-Term Performance Plan.
- Following these transactions, Ackley directly owns 10,263.069 shares of Camden National Corp, which includes 4,752 restricted stock units and restricted shares subject to vesting and forfeiture restrictions.
Sentiment
Score: 7
Explanation: The document reflects routine executive compensation activity, which is neither particularly positive nor negative. It's a neutral disclosure.
Industry Context
This 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 transactions have a minimal direct impact on shareholders, as they relate to internal executive compensation and tax obligations.
- Employees who are also shareholders may be interested in the details of executive compensation.
Key Dates
| Date | Description |
|---|---|
| 04/25/2025 | Date of earliest transaction and withholding of shares for tax obligations. |
| 04/26/2025 | Vesting date for some restricted shares and stock units. |
| 04/29/2025 | Date of signature by Christopher G. Hutchinson, POA. |
Keywords
beneficial ownership, Form 4, Camden National Corp, David Ackley, restricted shares, stock units, tax withholding, vesting
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