Forbes Andrew 4

What Happened

• Andrew Forbes, Executive Vice President of Camden National Corp (CAC), had restricted shares vested and 224 shares withheld/disposed to satisfy tax withholding obligations. The withholdings occurred in two transactions: 127 shares on 2026-04-29 at $47.97 ($6,092) and 97 shares on 2026-04-30 at $48.17 ($4,672), totaling about $10,764.
• This was not an open-market sale for investment reasons but routine tax withholding (transaction code F), a common administrative disposition when restricted shares vest.

Key Details

• Transaction dates and prices:
  • 2026-04-29: 127 shares withheld at $47.97 (≈ $6,092)
  • 2026-04-30: 97 shares withheld at $48.17 (≈ $4,672)
• Total shares withheld/disposed: 224; total proceeds ≈ $10,764.
• Shares owned after transaction: the filing notes holdings include 4,054 restricted stock units/restricted shares subject to vesting and forfeiture (footnote F3). The filing excerpt provided does not state a full total of beneficially owned shares beyond this.
• Footnotes:
  • F1: Shares withheld to satisfy minimum tax withholding on restricted shares vested 4/29/2026.
  • F2: Shares withheld to satisfy minimum tax withholding on restricted shares vested 4/30/2026.
  • F3: Includes 4,054 restricted stock units/restricted shares subject to vesting/forfeiture.
• Timeliness: Report filed 2026-05-01 for transactions on 4/29 and 4/30; appears to be filed within the normal Form 4 reporting window (timely).

Context

• This was a tax-withholding disposition tied to vesting of restricted shares (a “sell-to-cover” or share withholding), not a market-directed sale or an options exercise for cash. Such withholding transactions are routine and generally reflect payroll/tax settlement rather than a statement of the insider’s market view.