Camden National (CAC) Director Receives 195 Shares Under Equity Plan

Rhea-AI Filing Summary

Lawrence J. Sterrs, a director of Camden National Corporation (CAC), reported a purchase of company common stock. On 09/19/2025 he acquired 195 shares at $40.22 per share under the company's 2022 Equity and Incentive Plan in lieu of director fees. After the transaction he beneficially owned 14,565.066 shares in total, which includes 18.468 shares added since the last filing through the company's dividend reinvestment program. The Form 4 was filed as a single reporting person and signed by a power of attorney on 09/23/2025.

Positive

• Insider purchase of 195 shares at $40.22 indicates continued director ownership alignment with shareholders
• Participation in dividend reinvestment added 18.468 shares since the last filing, showing reinvestment of cash returns
• Disclosure clarity: Transaction described as issued under the 2022 Equity and Incentive Plan in lieu of director fees

Negative

• None.

Insights

Financial Analyst

TL;DR: Director purchase of 195 shares at $40.22 is a routine insider acquisition with limited market impact.

This is a modest insider purchase executed under the company's equity plan in lieu of director fees, increasing the director's stake to 14,565.066 shares. The added 18.468 shares from dividend reinvestment show continued participation in shareholder yield programs. The transaction size is small relative to typical market-cap effects and appears to be administrative compensation settlement rather than a strategic accumulation.

Corporate Governance Expert

TL;DR: Transaction reflects standard director compensation mechanics and timely Section 16 disclosure.

The filing discloses shares issued under the 2022 Equity and Incentive Plan in lieu of director fees, which is common practice. The Form 4 was filed by one reporting person and executed via POA, with clear explanation of dividend reinvestment inclusion. There are no indications of unusual related-party arrangements or governance red flags in the filing content provided.

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^*

Sterrs Lawrence J

(Last) (First) (Middle)

2 ELM STREET

P.O. 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		195(1)	A	$40.22	14,565.066(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 18.468 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 did Lawrence J. Sterrs (CAC) report on Form 4?

He reported acquiring 195 shares of Camden National Corporation common stock on 09/19/2025 at $40.22 per share.

How many shares does the reporting person beneficially own after the transaction?

Following the reported transaction the filing shows beneficial ownership of 14,565.066 shares.

Why were the shares issued to the director?

The filing states the shares were issued under the 2022 Equity and Incentive Plan and were received in lieu of director fees.

Does the Form 4 include dividend reinvestment activity?

Yes. The total ownership includes 18.468 shares acquired since the last filing through the company's dividend reinvestment program.

Who signed the Form 4 and when was it signed?

The Form 4 was signed by a power of attorney (Christopher G. Hutchinson, POA) on 09/23/2025.