Camden National (CAC) Reports 307-Share Director Grant in Latest Form 4

Rhea-AI Filing Summary

Camden National Corporation (CAC) – Form 4 insider filing

Director Raina Maxwell reported the receipt of 307 shares of CAC common stock on 20 June 2025. The shares were issued at $38.57 each under the company’s 2022 Equity and Incentive Plan in lieu of cash director fees.

Following the transaction, Maxwell’s aggregate direct holding increased to 1,759.601 shares. The filing was signed by Christopher G. Hutchinson under power of attorney and submitted on 23 June 2025.

No derivative securities were reported, and there were no dispositions. The transaction was coded “A” (acquisition) and is classified as a routine equity award to a non-employee director.

Insights

Securities Analyst

TL;DR: Small, routine director stock grant; neutral market impact.

The Form 4 shows a 307-share issuance to Director Raina Maxwell under the standing equity plan. At current ownership of 1,760 shares, the grant is immaterial to CAC’s overall float and earnings outlook. Because it is compensation rather than an open-market purchase, the transaction does not signal incremental insider conviction. Investors typically treat such director fee conversions as administrative. Therefore, no valuation or governance red flags emerge, but the information is unlikely to shift sentiment or liquidity.

Corporate Governance Expert

TL;DR: Governance-compliant equity fee; no red flags detected.

The award was executed under the 2022 Equity and Incentive Plan, indicating adherence to approved compensation structures. Reporting was timely (within two business days) and properly signed, demonstrating Section 16 compliance. The modest grant size suggests limited dilution risk. No indications of 10b5-1 usage or other special arrangements were disclosed. Overall, the filing reflects standard governance practice without material implications for shareholders.

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^*

Maxwell Raina

(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)
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 Stock	06/20/2025		A		307(1)	A	$38.57	1,759.601	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

What did Camden National (CAC) disclose in the latest Form 4?

Director Raina Maxwell received 307 shares of CAC common stock on 20 Jun 2025 at $38.57 under the 2022 Equity and Incentive Plan.

How many Camden National shares does the director hold after the transaction?

Following the grant, 1,759.601 shares are now beneficially owned directly by Director Maxwell.

Was the transaction an open-market purchase or a stock award?

It was an equity award in lieu of director fees, not an open-market purchase.

When was the Form 4 for CAC filed?

The filing was signed and submitted on 23 June 2025, meeting SEC timeliness requirements.

Does this Form 4 signal any change in insider sentiment at CAC?

Because the shares were issued as routine compensation, it is generally viewed as neutral rather than a discretionary insider buy.