Colombo Russell A 4

What Happened Russell A. Colombo, a director of Bank of Marin Bancorp (BMRC), reported the expiration of long derivative positions (stock options) that were disposed of with no cash value. The expirations occurred for 8,400 shares on 2024-04-01, 14,340 shares on 2025-03-02, and 14,820 shares on 2026-03-01 — a total of 37,560 option shares expired unexercised, $0 proceeds.

Key Details

• Transaction types: Expiration of long derivative positions (SEC code H) — options expired unexercised; no sale or purchase occurred.
• Dates & amounts: 2024-04-01 (8,400 options), 2025-03-02 (14,340 options), 2026-03-01 (14,820 options). All reported as disposed at $0.00.
• Post-transaction ownership: The filing does not disclose Colombo’s remaining beneficial ownership of common shares after these expirations.
• Footnotes: Grants dated 4/1/2014 (vested over 5 years), 3/2/2015 (vested over 3 years), and 3/1/2016 (vested over 3 years) expired unexercised; vesting schedules noted in filing (see F1–F6).
• Timeliness: The Form 4 was filed late (administrative oversight noted in the footnotes).

Context When stock options expire unexercised, the insider receives no proceeds and potential future dilution from those options is eliminated. These expirations are administrative/contractual events rather than open-market sales or purchases, and do not by themselves signal a buy/sell decision. The late filing is attributed in the form to an administrative oversight; late filings affect disclosure timeliness but do not change the underlying transactions.