Camden National (CAC) EVP William H. Martel Sells Shares for Tax Withholding

What Happened
William H. Martel, Executive Vice President of Camden National Corporation (CAC), had a total of 294 shares withheld to satisfy tax withholding on restricted shares that vested. On April 29, 2026, 158 shares were withheld at $47.97 each ($7,579). On April 30, 2026, 136 shares were withheld at $48.17 each ($6,551). The combined value of the withheld shares is $14,130. These transactions are reported under code "F" (payment of exercise price or tax liability).

Key Details

• Dates and prices: 4/29/2026 — 158 shares @ $47.97 ($7,579); 4/30/2026 — 136 shares @ $48.17 ($6,551).
• Total shares withheld: 294; total value: $14,130.
• Beneficial ownership note: Reported holdings include 7,384 restricted stock units/restricted shares subject to vesting and forfeiture (Footnote F3).
• Footnotes: F1 and F2 indicate the shares were withheld to satisfy minimum tax withholding obligations on restricted shares that vested on 4/29/2026 and 4/30/2026, respectively.
• Filing timeliness: Transaction period includes 4/29/2026; the Form 4 was filed on 2026-05-01 (timely filing).

Context
These were not open-market sales but shares withheld by the company to cover tax obligations on vested restricted stock (a form of cashless/withholding settlement). Such withholdings are routine administrative actions and do not necessarily indicate the insider's view on the company.