Bank of Marin Bancorp (BMRC) EVP logs expired options and current holdings
Rhea-AI Filing Summary
Bank of Marin Bancorp Executive Vice President Robert Gotelli reported administrative updates to his equity holdings. Three stock option grants expired unexercised: 1,300 options at an exercise price of $22.94 per share on April 1, 2024, 2,200 options at $25.38 on March 2, 2025, and 1,200 options at $24.83 on March 1, 2026. The footnotes state these Form 4 entries are being filed late due to administrative oversight. Gotelli continues to hold 36,460 common shares directly, 17,151.0485 shares indirectly through an ESOP, and multiple remaining option awards with exercise prices mainly in the mid‑$30 to mid‑$40 range expiring between 2027 and 2032.
Positive
- None.
Negative
- None.
Insights
Routine option expirations with no open‑market trading and continued equity stake.
Robert Gotelli, an executive at Bank of Marin Bancorp, reported the expiration of three stock option grants that were fully vested but went unexercised. These expirations, at exercise prices between $22.94 and $25.38, remove derivative exposure but do not involve buying or selling shares in the market.
The filing also discloses that these Form 4 updates were submitted late due to “administrative oversight,” which is explicitly noted in the footnotes. While delays are not ideal from a governance standpoint, the transactions themselves are routine compensation events rather than strategic trades.
Gotelli still holds 36,460 common shares directly and 17,151.0485 indirectly via an ESOP as of April 1, 2024, plus several remaining stock option awards with exercise prices from $33.58 to $44.45 expiring between 2027 and 2032. Overall, there is no net buy or sell activity, and the impact on the investment thesis appears neutral.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| H | Stock Options (Right to Buy) | 1,200 | $0.00 | -- |
| H | Stock Options (Right to Buy) | 2,200 | $0.00 | -- |
| H | Stock Options (Right to Buy) | 1,300 | $0.00 | -- |
| holding | Stock Options (Right to Buy) | -- | -- | -- |
| holding | Stock Options (Right to Buy) | -- | -- | -- |
| holding | Stock Options (Right to Buy) | -- | -- | -- |
| holding | Stock Options (Right to Buy) | -- | -- | -- |
| holding | Stock Options (Right to Buy) | -- | -- | -- |
| holding | Stock Options (Right to Buy) | -- | -- | -- |
| holding | Stock Options (Right to Buy) | -- | -- | -- |
| holding | Stock Options (Right to Buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- The stock option was granted on April 1, 2014 and vested in equal annual installments over five years, becoming fully exercisable on April 1, 2019. The option expired unexercised on April 1, 2024. This Form 4 is being filed late due to an administrative oversight. Exercisable 20% per year beginning on first anniversary date of grant. The stock option was granted on March 2, 2015 and vested in equal annual installments over three years, becoming fully exercisable on March 2, 2018. The option expired unexercised on March 2, 2025. This Form 4 is being filed late due to an administrative oversight. Exercisable 33% per year beginning on first anniversary date of grant. The stock option was granted on March 1, 2016 and vested in equal annual installments over three years, becoming fully exercisable on March 1, 2019. A portion of the option expired unexercised on April 1, 2024. The remaining portion of the option was previously exercised and reported on a Form 4 filed on March 3, 2026. This Form 4 is being filed late due to an administrative oversight. Exercisable 33% per year beginning on first anniversary date of grant.
