Camden National EVP uses 438 shares for tax withholding

Camden National Corp EVP William H. Martel reported tax-related share dispositions rather than open-market trades.

Rhea-AI Filing Summary

Camden National Corp EVP William H. Martel reported tax-related share dispositions rather than open-market trades. A total of 438 shares of common stock were withheld at $49.68 per share on April 24, 2026 to cover minimum tax withholding obligations tied to equity awards.

The footnotes state that part of the shares came from restricted shares that vested on April 25, 2026, and part from restricted stock units granted under the issuer's 2023-2025 Long-Term Performance Plan that also vested on that date. The filing also notes 7,099 restricted stock units and restricted shares remain subject to vesting and forfeiture conditions.

Insider Trade Summary

Exercise Price or Tax Liability: 438 shares

Exercise Price or Tax Liability 2 txns

Insider Martel William H

Role EVP

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock	125	$49.68	$6K
Exercise Price or Tax Liability	Common Stock	313	$49.68	$16K

Holdings After Transaction: Common Stock — 20,917 shares (Direct)

Footnotes (3)

1. F1. Consists of shares withheld in order to satisfy the minimum tax withholding obligation on restricted shares that vested on April 25, 2026, using the April 24, 2026 price.
2. F2. Consists of shares withheld in order to satisfy the minimum tax withholding obligation on restricted stock units that were granted under the issuer's 2023-2025 Long-Term Performance Plan that vested on April 25, 2026, using the April 24, 2026 Price.
3. F3. Includes 7,099 restricted stock units and restricted shares that are subject to vesting and forfeiture restrictions.

Key Figures

Tax-withholding shares: 438 shares Withholding price: $49.68 per share Unvested equity awards: 7,099 units/shares

3 metrics

Tax-withholding shares 438 shares Common stock withheld to satisfy minimum tax withholding obligation

Withholding price $49.68 per share Price used for tax-withholding dispositions on April 24, 2026

Unvested equity awards 7,099 units/shares Restricted stock units and restricted shares subject to vesting and forfeiture

Key Terms

restricted shares, restricted stock units, 2023-2025 Long-Term Performance Plan, tax withholding obligation

4 terms

restricted shares financial

"Consists of shares withheld in order to satisfy the minimum tax withholding obligation on restricted shares that vested"

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

"restricted stock units that were granted under the issuer's 2023-2025 Long-Term Performance Plan"

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.

2023-2025 Long-Term Performance Plan financial

"restricted stock units that were granted under the issuer's 2023-2025 Long-Term Performance Plan"

tax withholding obligation financial

"shares withheld in order to satisfy the minimum tax withholding obligation"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Camden National (CAC) EVP William H. Martel report in this Form 4?

He reported that 438 Camden National common shares were withheld to cover tax obligations on recently vested equity awards, rather than being sold in the open market, reflecting a routine compensation-related adjustment to his shareholdings.

Were the Camden National (CAC) Form 4 transactions open-market sales?

No, the Form 4 describes tax-withholding dispositions, not open-market sales. Shares were withheld by the issuer at $49.68 per share to satisfy minimum tax obligations on vested restricted shares and restricted stock units.

What equity awards vested for Camden National (CAC) EVP Martel?

Restricted shares and restricted stock units vested on April 25, 2026. The RSUs were granted under Camden National’s 2023-2025 Long-Term Performance Plan, and the related tax obligations were settled by withholding 438 shares using the April 24, 2026 share price.

Does William H. Martel still hold unvested Camden National (CAC) equity after this filing?

Yes. The Form 4 notes that his holdings include 7,099 restricted stock units and restricted shares that remain subject to vesting and forfeiture restrictions, indicating ongoing exposure to Camden National’s future performance through equity compensation.

How many shares were used to cover taxes in this Camden National (CAC) Form 4?

A total of 438 Camden National common shares were withheld for tax purposes. Two separate tax-withholding transactions occurred on April 24, 2026, each tied to equity awards that vested the following day, according to the footnotes.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/28/2026 - 04:17 PM Learn about SEC filing dates

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^*

Martel William H

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/24/2026

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

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/24/2026		F		125(1)	D	$49.68	21,230	D
Common Stock	04/24/2026		F		313(2)	D	$49.68	20,917(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount 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 25, 2026, using the April 24, 2026 price.

2. Consists of shares withheld in order to satisfy the minimum tax withholding obligation on restricted stock units that were granted under the issuer's 2023-2025 Long-Term Performance Plan that vested on April 25, 2026, using the April 24, 2026 Price.

3. Includes 7,099 restricted stock units and restricted shares that are subject to vesting and forfeiture restrictions.

Remarks:

	Christopher G. Hutchinson, POA	04/28/2026
	** 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.
* Form 4: SEC 1474 (03-26)