Form 4: Camden National Corp Executive Vice President William H. Martel Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
William H. Martel, EVP of Camden National Corp, disposed of shares to cover tax obligations related to vesting restricted stock units and shares on April 25 and 26, 2025.
Summary
- On April 25, 2025, William H. Martel, EVP of Camden National Corp, disposed of a total of 1,056 shares of common stock to satisfy tax withholding obligations.
- The shares were withheld to cover taxes on restricted stock units and restricted shares that vested on April 25 and 26, 2025.
- The price per share for these transactions was $38.74.
- Following these transactions, Martel directly owns 17,915 shares of Camden National Corp, which includes 6,170 restricted stock units and restricted shares subject to vesting and forfeiture restrictions.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to insider transactions for tax purposes, indicating a neutral sentiment.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Comparison to Industry Standards
- Similar filings are common across publicly traded companies when executives exercise stock options or restricted stock units, and then sell shares to cover the associated tax liabilities.
- The amount of shares sold to cover taxes is typical and depends on the executive's tax bracket and the value of the vested shares.
- Comparable companies such as Bangor Savings Bank and Northeast Bancorp would have similar insider transaction reporting requirements.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine disposal of shares for tax purposes and does not indicate a change in the executive's long-term outlook on the company.
Key Dates
| Date | Description |
|---|---|
| 04/25/2025 | Date of earliest transaction and disposal of shares to cover tax obligations on vested restricted stock units and shares. |
| 04/26/2025 | Date of vesting for some restricted shares and stock units, with tax obligations satisfied using the April 25, 2025 price. |
| 04/29/2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, Beneficial Ownership, Camden National Corp, CAC, William H. Martel, Executive Compensation, Restricted Stock Units, Tax Withholding, Share Disposal
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.