[Form 4] Camden National Corporation Insider Trading Activity

Rhea-AI Filing Summary

Camden National Corporation (CAC) – Form 4 filing: On 06/20/2025, Director Carl J. Soderberg acquired 411 shares of CAC common stock through the company’s 2022 Equity & Incentive Plan, receiving stock in lieu of director fees at an implied price of $38.57 per share. After the transaction, his direct ownership rose to 98,910.879 shares. No derivative positions were reported and there were no share dispositions. The purchase adds less than 1 % to his existing stake and does not materially alter the overall insider ownership profile.

Insights

Financial Analyst

TL;DR: Routine 411-share director purchase under equity plan; negligible size; neutral valuation impact.

Director Carl Soderberg’s acquisition equates to roughly US$15.9 k and lifts his stake by only ~0.4 %. Because the shares were issued as compensation, the transaction is non-cash and does not reflect open-market conviction buying. Insider ownership remains healthy at nearly 99 k shares, but the incremental change is immaterial to float or earnings forecasts. Accordingly, I view the filing as informational with no immediate impact on valuation or liquidity.

Corporate Governance Expert

TL;DR: Stock-in-lieu fee aligns director pay with shareholders; minor scale keeps governance risk unchanged.

The use of equity to satisfy director fees is a standard governance practice that modestly aligns incentives with shareholder returns. The filing confirms compliance with Section 16 reporting and shows no 10b5-1 plan reliance. Given the small share count, there is no dilution concern and no signal of strategic shifts. Governance posture remains stable.

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

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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^*

Soderberg Carl John

(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)
06/20/2025

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	06/20/2025		A		411(1)	A	$38.57	98,910.879	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	06/23/2025
	** 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

How many CAC shares did Director Carl J. Soderberg acquire?

411 common shares were acquired on 06/20/2025.

What was the acquisition price reported in the Form 4 for CAC?

The shares were valued at $38.57 per share under the equity plan.

What is Carl J. Soderberg’s CAC shareholding after the transaction?

His direct ownership stands at 98,910.879 shares following the filing.

Was this an open-market purchase or part of a compensation plan?

The shares were issued under the 2022 Equity & Incentive Plan in lieu of director fees, not bought on the open market.

Did the Form 4 disclose any derivative security activity for CAC?

No, no derivative securities were reported in this filing.