Camden National (CAC) Insider: 372 Shares Awarded; Dividend Reinvestment Added 168 Shares

Rhea-AI Filing Summary

McCarthy Marie J, a director of Camden National Corp (CAC), acquired 372 shares of the company's common stock on 09/19/2025 at $40.22 per share under the company's 2022 Equity and Incentive Plan in lieu of director fees. Following the transaction, McCarthy beneficially owned 15,578.112 shares, which includes 168.238 shares added via the company's dividend reinvestment program since the last filing. The Form 4 was signed by a POA on 09/23/2025. The filing documents a routine equity award and dividend reinvestment activity by an insider rather than an open-market purchase or sale.

Positive

• Director accepted equity under the 2022 Equity and Incentive Plan, aligning compensation with shareholder interests
• Dividend reinvestment added 168.238 shares, indicating participation in a shareholder-friendly program
• Transaction fully disclosed on Form 4 with price ($40.22) and post-transaction holdings (15,578.112 shares)

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider received equity compensation (372 shares) at $40.22; ownership now 15,578.112 shares—routine, non-market transaction.

The transaction reflects compensation settled in company stock under the 2022 Equity and Incentive Plan rather than cash director fees, preserving cash and modestly increasing insider alignment with shareholders. The cost basis for these shares is the reported $40.22 per share for valuation purposes. The addition of 168.238 shares via dividend reinvestment indicates ongoing participation in shareholder-friendly policies. For most investors, this is a routine corporate governance action with limited immediate market impact.

Corporate Governance Expert

TL;DR: Director equity award and dividend reinvestment are standard governance practices; no red flags.

Issuing shares in lieu of director fees aligns compensation with shareholder outcomes and is common practice. The Form 4 clearly discloses the plan source and the incremental shares from dividend reinvestment. There is no indication of accelerated vesting, related-party concerns, or derivative transactions in this filing. Documentation appears complete and consistent with routine insider reporting requirements.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

McCarthy Marie J

(Last) (First) (Middle)

2 ELM STREET

PO BOX 310

(Street)

CAMDEN ME 04843

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CAMDEN NATIONAL CORP [ CAC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/19/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/19/2025		A		372(1)	A	$40.22	15,578.112(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares acquired under Camden National Corporation's 2022 Equity and Incentive Plan and Amendment in lieu of director fees.

2. Includes 168.238 shares acquired since the last filing as a result of participation in the Company's dividend reinvestment program.

Remarks:

	Christopher G. Hutchinson, POA	09/23/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did McCarthy Marie J report on the CAC Form 4?

The filing reports acquisition of 372 shares on 09/19/2025 at a price of $40.22 per share under the company's 2022 Equity and Incentive Plan.

How many Camden National (CAC) shares does McCarthy beneficially own after the transaction?

After the reported transaction, McCarthy beneficially owns 15,578.112 shares.

Did the Form 4 disclose dividend reinvestment activity for CAC insider holdings?

Yes. The filing states that 168.238 shares were acquired since the last filing through the company's dividend reinvestment program.

Was this a market purchase or compensation-related issuance for CAC insider McCarthy?

This was a compensation-related issuance: shares were granted in lieu of director fees under the 2022 Equity and Incentive Plan, not an open-market purchase.

When was the Form 4 signature date for the CAC filing?

The Form 4 was signed by a power of attorney on 09/23/2025.