Form 4: Camden National Corp Executive VP William H. Martel Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
William H. Martel, Executive Vice President of Camden National Corp, disposed of shares to cover tax obligations related to vesting restricted shares and stock units.
Summary
- On April 26, 2024, William H. Martel, an Executive Vice President at Camden National Corp, disposed of common stock to cover tax obligations.
- A total of 79 shares were disposed of at a price of $30.50 to cover taxes on restricted shares vesting on April 26, 2024.
- An additional 72 shares were disposed of at $30.50 to cover taxes on restricted shares vesting on April 27, 2024.
- Furthermore, 285 shares were disposed of at $30.50 to cover taxes on restricted stock units vesting on April 27, 2024, under the 2021-2023 Long-Term Performance Plan.
- Following these transactions, Martel beneficially owns 15,391 shares, including 7,359 restricted stock units and restricted shares subject to vesting and forfeiture restrictions.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, with no indication of positive or negative sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC when company insiders, like officers and directors, trade in their company's stock. These filings provide transparency into insider transactions and can be monitored by investors for insights into management's perspective on the company's value.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a routine disposal of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 04/26/2024 | Date of transaction and vesting of restricted shares. |
| 04/27/2024 | Vesting date of additional restricted shares and stock units. |
| 04/30/2024 | Date of signature on the Form 4 filing. |
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