Camden National (CAC) Director Receives 245 Shares Under Equity Plan

Rhea-AI Filing Summary

Rebecca Hatfield, a director of Camden National Corporation (CAC), acquired 245 shares of the issuer's common stock on 09/19/2025 at a price of $40.22 per share. The purchase was made under Camden National Corporation's 2022 Equity and Incentive Plan and was issued in lieu of director fees. Following the transaction, the filing reports 7,177.06 shares beneficially owned by the reporting person. The Form 4 was signed by a power of attorney, Christopher G. Hutchinson, on 09/23/2025.

Positive

• Increases director alignment with shareholders by converting director fees into equity under the 2022 Equity and Incentive Plan
• Transparent disclosure of transaction date, price, plan source, and post-transaction beneficial ownership

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine insider equity grant/purchase that modestly increases director alignment with shareholders.

The Form 4 documents a non-derivative acquisition of 245 common shares at $40.22 each under the company's 2022 Equity and Incentive Plan, issued in lieu of director fees. This is a standard compensation-related issuance rather than a market purchase, so it primarily reflects compensation policy and alignment rather than a director-driven market signal. The post-transaction beneficial ownership figure of 7,177.06 shares provides context for Hatfield's stake but lacks company-wide outstanding share data to assess scale. Impact on valuation or control is immaterial based on the limited size disclosed.

Corporate Governance Expert

TL;DR: Typical director compensation transaction; governance practice appears consistent with equity-based pay for non-employee directors.

Issuing equity in lieu of director fees under an approved equity plan is a common governance practice to align directors with shareholder interests. The Form 4 properly discloses the transaction date, price, plan source, and beneficial ownership after the transaction. The POA signature indicates administrative processing; there is no indication of accelerated vesting, options, or derivative activity. Without additional filings or material departures from plan terms, this item represents routine governance administration.

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
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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^*

Hatfield Rebecca

(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		245(1)	A	$40.22	7,177.06	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.

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 Rebecca Hatfield report on Form 4 for CAC?

The Form 4 reports an acquisition of 245 common shares on 09/19/2025 at $40.22 per share, issued under the company's 2022 Equity and Incentive Plan in lieu of director fees.

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

The filing reports 7,177.06 shares beneficially owned following the reported transaction.

Was the transaction a market purchase or an issuance under a plan?

The shares were issued under the 2022 Equity and Incentive Plan and granted in lieu of director fees, not a market open-market purchase.

Who signed the Form 4 and when was it signed?

The Form 4 was signed by power of attorney Christopher G. Hutchinson on 09/23/2025.

Does the filing show any derivative transactions (options, warrants) for the reporting person?

No. Table II for derivative securities shows no entries; the reported transaction is a non-derivative common stock acquisition.