Form 4: Camden National Corp: Director Haynes Reports Ownership Changes

Larry K. Haynes, a Director at Camden National Corp, has reported changes in beneficial ownership of common stock, including transfers to a revocable trust and acquisitions through a dividend reinvestment program.

Summary

• Larry K. Haynes, a Director of Camden National Corp (CAC), reported transactions affecting his beneficial ownership of common stock.
• On May 11, 2026, 3,217.888 shares were transferred to a revocable trust. Haynes is the trustee and retains voting and dispositive power, indicating no change in beneficial ownership.
• Also on May 11, 2026, 33.057 shares were acquired through the Company's dividend reinvestment program.
• On June 1, 2026, 919 shares were granted under the Independent Directors' Equity Compensation Program, which are part of the 2022 Equity and Incentive Plan. These shares vested immediately.
• Following these transactions, Haynes's beneficial ownership includes shares held directly and indirectly through the revocable trust.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it primarily reports routine insider transactions and ownership adjustments without indicating significant new investment or divestment.

Positives

• Acquisition of shares through the dividend reinvestment program suggests continued investment in the company.
• Grant of shares under the Independent Directors' Equity Compensation Program indicates alignment of director interests with shareholders.
• Immediate vesting of granted shares under the equity compensation program.

Negatives

• The filing details a transfer of shares to a revocable trust, which, while not a change in beneficial ownership, involves administrative changes.
• The specific number of shares acquired through the dividend reinvestment program (33.057) is relatively small.

Risks

• Potential for future changes in beneficial ownership that could impact market perception.
• The nature of indirect beneficial ownership through a trust could introduce complexities in understanding ultimate control and intent.

Future Outlook

No specific forward-looking statements or guidance were provided in this Form 4 filing, which primarily reports past transactions.

Management Comments

• The reporting person is trustee of the revocable trust and retains voting and dispositive power; no change in beneficial ownership.
• Consists of 33.057 shares acquired since the last filing as a result of participation in the Company's dividend reinvestment program.
• Shares granted under the Independent Directors' Equity Compensation Program, a component of the 2022 Equity and Incentive Plan and Amendment; therefore, price is N/A. These shares vested immediately on the date of the grant.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard disclosures for insiders and directors, reflecting typical insider activity such as dividend reinvestment and equity compensation grants, which are common practices across the financial services industry.

Corporate Governance

Related Party Transactions

• Transfer of shares to a revocable trust where the reporting person is the trustee.

Stakeholder Impact

• Shareholders: The filing provides transparency on director ownership, reinforcing confidence in governance.
• Management: The equity grant aligns director incentives with company performance.
• Employees: Indirect impact through stable governance and potential for company growth.

Next Steps

• Continued monitoring of Director Haynes's beneficial ownership for any future significant changes.
• Observation of the company's performance and strategic initiatives as reflected in future SEC filings.

Key Dates

Keywords

Form 4, SEC Filing, Camden National Corp, CAC, Beneficial Ownership, Director, Stock Transaction, Dividend Reinvestment, Equity Compensation, Revocable Trust