Gotelli Robert 4

What Happened

• Robert Gotelli, Executive Vice President of Bank of Marin Bancorp (BMRC), exercised stock options on Feb 27, 2026. The Form 4 reports an acquisition of 1,200 shares at an exercise price of $24.83 per share for a total cash outlay of $29,796. The filing also shows a simultaneous disposition entry for 1,200 shares listed as a derivative with $0.00 proceeds.

Key Details

• Transaction date: 2026-02-27
• Exercise (code M): Acquired 1,200 shares @ $24.83 = $29,796
• Simultaneous derivative entry: Disposed 1,200 shares @ $0.00 (filing lists as "Derivative")
• Shares owned after transaction: not specified in the provided filing details
• Footnotes: F1 — exercisable 33% per year beginning on the first anniversary of the grant; F2 — exercisable 33% immediately, then 33% per year beginning on the first anniversary
• Filing date (accession): 2026-03-02; no late-filing flag provided in the supplied data

Context

• The filing documents an option exercise (M). The paired $0.00 derivative disposal line may reflect a net-share settlement, withholding, or conversion step commonly used in option exercises, but the filing itself does not state the reason. This is not an open-market purchase or sale; it is an insider exercising vested compensation.