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Camden National (CAC) EVP sees stock withheld to cover tax on vesting

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(Neutral)
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Form Type
4

Rhea-AI Filing Summary

Camden National Corp executive Andrew Forbes reported routine share withholdings to cover taxes on vesting stock awards. On April 29 and April 30, 2026, a total of 224 shares of common stock were withheld as minimum tax payments on restricted shares that vested on those dates. These Form 4 entries are coded as tax-withholding dispositions, not open-market sales. After these transactions, Forbes holds 5,923 shares of common stock directly, along with 4,054 restricted stock units and restricted shares that remain subject to vesting and forfeiture conditions.

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Insider Forbes Andrew
Role EVP
Type Security Shares Price Value
Tax Withholding Common Stock 97 $48.17 $5K
Tax Withholding Common Stock 127 $47.97 $6K
Holdings After Transaction: Common Stock — 5,923 shares (Direct, null)
Footnotes (1)
  1. Consists of shares withheld in order to satisfy the minimum tax withholding obligation on restricted shares that vested on April 29, 2026. Consists of shares withheld in order to satisfy the minimum tax withholding obligation on restricted shares that vested on April 30, 2026. Includes 4,054 restricted stock units and restricted shares that are subject to vesting and forfeiture restrictions.
Tax-withheld shares April 29, 2026 127 shares at $47.97 Common stock withheld to satisfy minimum tax on vested restricted shares
Tax-withheld shares April 30, 2026 97 shares at $48.17 Common stock withheld to satisfy minimum tax on vested restricted shares
Total tax-withheld shares 224 shares Aggregate common stock withheld for tax obligations on April 29–30, 2026
Shares held after transactions 5,923 shares Direct Camden National common stock holdings following tax-withholding dispositions
Restricted stock units and shares 4,054 units/shares Awards subject to vesting and forfeiture restrictions, per footnote
restricted shares financial
"restricted shares that vested on April 29, 2026"
Restricted shares are company stock that cannot be sold or transferred immediately because they are subject to legal or contractual limits, such as a required holding period or performance conditions. They matter to investors because these locked-up shares can affect a company’s available stock for trading, future dilution, and insider incentives—imagine a gift that can’t be cashed until certain conditions are met, which changes when and how much supply can suddenly enter the market.
restricted stock units financial
"Includes 4,054 restricted stock units and restricted shares"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax withholding obligation financial
"satisfy the minimum tax withholding obligation on restricted shares"
Form 4 regulatory
"These Form 4 entries are coded as tax-withholding dispositions"
Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Forbes Andrew
(Last)(First)(Middle)
2 ELM STREET
P.O. BOX 310
(Street)
CAMDEN MAINE 04843
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
CAMDEN NATIONAL CORP [ CAC ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
EVP
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/29/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common Stock04/29/2026F127(1)D$47.976,020D
Common Stock04/30/2026F97(2)D$48.175,923(3)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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Consists of shares withheld in order to satisfy the minimum tax withholding obligation on restricted shares that vested on April 29, 2026.
2. Consists of shares withheld in order to satisfy the minimum tax withholding obligation on restricted shares that vested on April 30, 2026.
3. Includes 4,054 restricted stock units and restricted shares that are subject to vesting and forfeiture restrictions.
Remarks:
Christopher G. Hutchinson, POA05/01/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Camden National (CAC) EVP Andrew Forbes report?

Andrew Forbes reported share dispositions to cover tax withholding on vested restricted shares. Two Form 4 entries show a total of 224 Camden National common shares withheld as minimum tax payments tied to April 29–30, 2026 vesting events.

Were Andrew Forbes’ Camden National (CAC) share moves open-market sales?

No, the reported moves were tax-withholding dispositions, not open-market sales. Shares were withheld by the company to satisfy minimum tax obligations when Forbes’ restricted shares vested on April 29 and April 30, 2026.

How many Camden National (CAC) shares were withheld for Andrew Forbes’ taxes?

A total of 224 common shares were withheld for taxes. The Form 4 shows 127 shares at $47.97 per share and 97 shares at $48.17 per share, both classified as payment of tax liability by delivering securities.

What are Andrew Forbes’ Camden National (CAC) holdings after these transactions?

Following the tax-withholding entries, Andrew Forbes directly holds 5,923 Camden National common shares. Footnotes also state he has 4,054 restricted stock units and restricted shares outstanding that remain subject to future vesting and forfeiture conditions.

What do the restricted stock units mean for Camden National (CAC) EVP Andrew Forbes?

The filing notes Forbes holds 4,054 restricted stock units and restricted shares. These awards can convert into common stock over time, but they remain subject to vesting schedules and forfeiture provisions until those conditions are fully satisfied.