Form 4: Camden National Corp Executive Vice President Renee Smyth Reports Tax Withholding on Vested Stock
SEC Form 4
EVP Renee Smyth of Camden National Corp reports disposition of shares to cover tax obligations upon vesting of restricted stock units and shares.
Summary
- On April 25, 2025, Renee Smyth, an Executive Vice President at Camden National Corp, disposed of common stock to cover tax withholding obligations.
- A total of 895 shares were disposed of at a price of $38.74 per share.
- These shares were withheld to satisfy tax obligations related to the vesting of restricted stock units and restricted shares.
- Following the transactions, Smyth beneficially owns 26,390.796 shares of Camden National Corp, which includes 5,723 restricted stock units and restricted shares subject to vesting and forfeiture restrictions.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to stock transactions for tax purposes, indicating a neutral sentiment.
Industry Context
This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies. It reflects the standard practice of withholding shares to cover tax obligations upon the vesting of equity awards.
Comparison to Industry Standards
- Similar transactions are common among executives at publicly traded companies like Camden National Corp.
- Companies such as Bank of America, JP Morgan Chase, and Citigroup also regularly report similar Form 4 filings related to their executives' stock transactions.
- The practice of withholding shares for tax obligations is a standard component of equity compensation plans across the financial industry.
Stakeholder Impact
- The transaction has a minimal direct impact on shareholders, as it is a routine tax-related stock transaction by an executive.
- Employees holding similar equity awards may find the information relevant for understanding their own tax obligations upon vesting.
Key Dates
| Date | Description |
|---|---|
| 04/25/2025 | Date of transaction: Disposition of shares for tax withholding. |
| 04/26/2025 | Restricted shares vested. |
| 04/29/2025 | Date of Christopher G. Hutchinson, POA signature. |
Keywords
Form 4, Beneficial Ownership, Executive Compensation, Stock Options, Restricted Stock Units, Camden National Corp, CAC, Renee Smyth, Tax Withholding
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