Smith Ryan A 4

What Happened
Ryan A. Smith, Executive Vice President of Camden National Corp (CAC), had 52 shares withheld on March 6, 2026 to satisfy tax withholding related to vested Management Stock Purchase Plan (MSPP) shares. The withholding was at $45.92 per share, totaling $2,388. This was a tax-withholding disposal (not an open-market sale).

Key Details

• Transaction date: 2026-03-06 (reported on Form 4 filed 2026-03-10) — filing appears timely.
• Action: Shares withheld to satisfy tax withholding obligation (transaction code F).
• Quantity/price/value: 52 shares × $45.92 = $2,388 (disposed/withheld).
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Footnotes:
  • F1: Shares were withheld to satisfy minimum tax withholding on MSPP shares that vested on March 7, 2026, using the March 6, 2026 price.
  • F2: Holdings disclosure includes 7,125 restricted stock units/restricted shares that remain subject to vesting and forfeiture restrictions.

Context
Tax-withholding by withholding shares is a routine administrative step when restricted shares or purchase-plan shares vest; it reduces the insider's outstanding shares without an open-market sale. This transaction code (F) indicates a withholding for tax liability rather than a market-driven sale or purchase.