Camden National insider adds 204 shares via equity plan filing

Rhea-AI Filing Summary

Camden National Corporation (CAC) – Form 4 insider transaction

Director Lawrence J. Sterrs disclosed the purchase of 204 common shares on 20-Jun-2025 at $38.57 per share. The acquisition was made under the company’s 2022 Equity & Incentive Plan as payment in lieu of cash director fees. After the transaction, Sterrs’ direct beneficial ownership rose to 14,351.598 shares.

No derivative securities were involved, no sales were reported, and the filing does not reference a Rule 10b5-1 trading plan. The dollar value of the purchase is approximately $7.9 thousand, representing a negligible portion of both daily trading volume and total shares outstanding; therefore, the filing is best interpreted as routine insider participation rather than a market-moving event.

Insights

Securities Analyst

TL;DR: Routine 204-share insider buy; signals modest confidence, but scale is immaterial—neutral for valuation.

The transaction adds fewer than 205 shares to Sterrs’ holdings, costing roughly $7.9 k. Given CAC’s market capitalization and typical volume, the purchase does not meaningfully affect supply–demand dynamics or earnings outlook. It is a standard equity-compensation alternative to cash director fees. No derivative activity or 10b5-1 plan reduces the informational value further. Overall, investors should view this as routine governance housekeeping rather than a catalyst.

Corporate Governance Expert

TL;DR: Equity taken instead of cash aligns director interests but is too small to alter board incentives materially.

Accepting equity in lieu of fees modestly links director wealth to shareholder value, consistent with best-practice governance. However, with cumulative ownership now just over 14.3 k shares, the incremental 204-share addition changes incentive structures only marginally. No red flags—filing is timely, properly signed under power of attorney, and free of complex footnotes. Governance impact: neutral.

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^*

Sterrs Lawrence J

(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		204(1)	A	$38.57	14,351.598	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 Camden National (CAC) shares did Lawrence J. Sterrs buy?

He acquired 204 common shares.

What was the purchase price disclosed in the Form 4?

The shares were valued at $38.57 each.

What is Sterrs’ total direct ownership after the transaction?

Following the purchase, he directly owns 14,351.598 shares.

Was the transaction executed under a Rule 10b5-1 trading plan?

The filing does not indicate use of a Rule 10b5-1 plan.

Why were the shares issued to the director?

They were granted under the 2022 Equity & Incentive Plan in lieu of cash director fees.