Myers Timothy D 4

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.