Myers Timothy D 4
4 · Bank of Marin Bancorp · Filed Mar 27, 2026
Research Summary
AI-generated summary of this filing
Bank of Marin (BMRC) CEO Timothy D. Myers Forfeits 10,755 RSUs
What Happened
Timothy D. Myers, President & CEO and a director of Bank of Marin Bancorp (BMRC), had 10,755 performance-based restricted shares forfeited/cancelled on 2026-03-25. The Form 4 reports the disposition as an "other" disposition (code J) at $0.00 per share, so no cash changed hands (total value $0). Footnote F1 explains these were 2023 performance-based RSUs subject to three-year cliff vesting; performance goals were not met, resulting in a 0% payout and full forfeiture.
Key Details
- Transaction date: 2026-03-25; Form 4 filed: 2026-03-27.
- Reported disposition: 10,755 shares at $0.00 per share — total proceeds $0 (forfeiture).
- Transaction code: J (other acquisition/disposition) — here used to report forfeiture/cancellation.
- Shares owned after transaction: not disclosed in the filing.
- Relevant footnote: F1 — confirms forfeiture of 2023 performance-based RSUs due to unmet performance goals. Footnotes F2–F4 in the filing describe vesting schedules for other awards and are not directly related to this forfeiture.
- No indication this was a sale, purchase, option exercise, or 10b5-1 plan trade.
Context
This is a cancellation/forfeiture of unvested performance-based restricted shares and does not represent an insider selling or buying stock in the open market. Forfeitures are routine when performance conditions aren’t met; they do not indicate a purchase-based vote of confidence nor provide proceeds to the insider.
Insider Transaction Report
- Other
Common Stock
[F1]2026-03-25−10,755→ 124,173.327 total
- 134,928.327
Common Stock
- 14,786.186(indirect: By ESOP)
Common Stock
- 1,300
Stock Options (Right to Buy)
[F2]Exercise: $22.94Exp: 2024-04-01→ Common Stock (1,300 underlying) - 2,980
Stock Options (Right to Buy)
[F3]Exercise: $25.38Exp: 2025-03-02→ Common Stock (2,980 underlying) - 5,380
Stock Options (Right to Buy)
[F3]Exercise: $24.83Exp: 2026-03-01→ Common Stock (5,380 underlying) - 3,720
Stock Options (Right to Buy)
[F3]Exercise: $34.80Exp: 2027-03-01→ Common Stock (3,720 underlying) - 2,000
Stock Options (Right to Buy)
[F4]Exercise: $33.58Exp: 2028-03-01→ Common Stock (2,000 underlying) - 4,140
Stock Options (Right to Buy)
[F3]Exercise: $33.58Exp: 2028-03-01→ Common Stock (4,140 underlying) - 3,600
Stock Options (Right to Buy)
[F3]Exercise: $44.45Exp: 2029-03-01→ Common Stock (3,600 underlying) - 2,670
Stock Options (Right to Buy)
[F3]Exercise: $40.10Exp: 2030-03-02→ Common Stock (2,670 underlying) - 2,099
Stock Options (Right to Buy)
[F3]Exercise: $38.25Exp: 2031-03-01→ Common Stock (2,099 underlying) - 3,616
Stock Options (Right to Buy)
Exercise: $38.11From: 2021-10-29Exp: 2031-10-29→ Common Stock (3,616 underlying) - 4,629
Stock Options (Right to Buy)
[F3]Exercise: $34.03Exp: 2032-03-01→ Common Stock (4,629 underlying)
Footnotes (4)
- [F1]Represents forfeiture and cancellation of performance-based restricted shares granted in 2023 that were issued at grant and subject to three-year cliff vesting. Performance goals were not achieved, resulting in a 0% payout and forfeiture of all shares for no consideration.
- [F2]Exercisable 20% per year beginning on first anniversary date of grant.
- [F3]Exercisable 33% per year beginning on first anniversary date of grant.
- [F4]Exercisable 33% immediately, then 33% per year on first anniversary date of grant.