Bank of Marin (BMRC) EVP Sathis Arasadi Receives ESOP Shares

What Happened
Sathis Arasadi, Executive Vice President of Bank of Marin Bancorp (BMRC), reported acquisitions of company shares through the firm's ESOP/plan (transaction code J). The filing shows four acquisitions totaling 1,681.83 shares: 770.54 shares (12/31/2024), 838.32 shares (12/31/2025), 41.91 shares (12/31/2025, dividend reinvestment), and 31.06 shares (5/14/2026, dividend reinvestment). All were recorded at $0.00 per share (no cash paid) as plan allocations or dividend reinvestments.

Key Details

• Transaction dates and amounts:
  • 2024-12-31: 770.54 shares @ $0.00 (F1: 2024 ESOP allocation)
  • 2025-12-31: 838.32 shares @ $0.00 (F2: 2025 ESOP allocation)
  • 2025-12-31: 41.91 shares @ $0.00 (F3: dividend reinvestment in 2025)
  • 2026-05-14: 31.06 shares @ $0.00 (F4: dividend reinvestment in Feb & May 2026)
• Total reported acquired: 1,681.83 shares; reported value = $0 (plan allocation/dividend reinvestment).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: F1–F2 = ESOP allocations posted to the reporting owner's account; F3–F4 = additional shares from dividend reinvestment.
• Filing timeliness: The Form 4 is dated 2026-07-28 and covers allocations as early as 2024-12-31; this appears not to be timely relative to the typical 2-business-day Form 4 reporting requirement.

Context
These were not open-market purchases but ESOP/plan credits and dividend reinvestments (code J), which are routine compensatory or plan-related transactions rather than direct personal cash purchases. Such plan allocations provide insider ownership but are less informative about an executive’s near-term trading intent than open-market purchases or sales.