Camden National Corp Files DEF 14A with Executive Compensation Details

Ticker: CAC · Form: DEF 14A · Filed: 2024-04-05T00:00:00.000Z

Sentiment: neutral

Topics: DEF 14A, Executive Compensation, Camden National Corp, Equity Awards, Shareholder Meeting

TL;DR

<b>Camden National Corp's DEF 14A filing provides a detailed look at executive compensation and equity awards for the fiscal years 2020-2023.</b>

AI Summary

CAMDEN NATIONAL CORP (CAC) filed a Proxy Statement (DEF 14A) with the SEC on April 5, 2024. Camden National Corp filed a DEF 14A on April 5, 2024, reporting on the fiscal year ending December 31, 2023. The filing includes detailed information on executive compensation, specifically focusing on changes in pension values and equity awards. Data is presented for the fiscal years 2020 through 2023, allowing for year-over-year comparison. Specific metrics like 'EquityAwardsReportedValueMember' and 'EquityAwardsGrantedInPriorYearsVestedMember' are detailed for PEO and Non-PEO members. The company is incorporated in Maine (ME) and operates under the SIC code 6021 for National Commercial Banks.

Why It Matters

For investors and stakeholders tracking CAMDEN NATIONAL CORP, this filing contains several important signals. This filing is crucial for shareholders to understand how executive compensation is structured and how it has evolved over the past few years, particularly concerning equity awards and pension values. Investors can use this information to assess the company's governance practices and the alignment of executive incentives with shareholder interests.

Risk Assessment

Risk Level: low — CAMDEN NATIONAL CORP shows low risk based on this filing. The filing is a routine DEF 14A, which is standard for companies holding annual shareholder meetings and does not contain new financial performance data or significant operational changes.

Analyst Insight

Review the executive compensation details and equity award grants to assess alignment with company performance and shareholder value.

Key Numbers

Key Players & Entities

FAQ

When did CAMDEN NATIONAL CORP file this DEF 14A?

CAMDEN NATIONAL CORP filed this Proxy Statement (DEF 14A) with the SEC on April 5, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by CAMDEN NATIONAL CORP (CAC).

Where can I read the original DEF 14A filing from CAMDEN NATIONAL CORP?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by CAMDEN NATIONAL CORP.

What are the key takeaways from CAMDEN NATIONAL CORP's DEF 14A?

CAMDEN NATIONAL CORP filed this DEF 14A on April 5, 2024. Key takeaways: Camden National Corp filed a DEF 14A on April 5, 2024, reporting on the fiscal year ending December 31, 2023.. The filing includes detailed information on executive compensation, specifically focusing on changes in pension values and equity awards.. Data is presented for the fiscal years 2020 through 2023, allowing for year-over-year comparison..

Is CAMDEN NATIONAL CORP a risky investment based on this filing?

Based on this DEF 14A, CAMDEN NATIONAL CORP presents a relatively low-risk profile. The filing is a routine DEF 14A, which is standard for companies holding annual shareholder meetings and does not contain new financial performance data or significant operational changes.

What should investors do after reading CAMDEN NATIONAL CORP's DEF 14A?

Review the executive compensation details and equity award grants to assess alignment with company performance and shareholder value. The overall sentiment from this filing is neutral.

How does CAMDEN NATIONAL CORP compare to its industry peers?

Camden National Corp operates within the National Commercial Banks industry.

Are there regulatory concerns for CAMDEN NATIONAL CORP?

The filing is a Definitive Proxy Statement (DEF 14A) filed under the Securities Exchange Act of 1934.

Industry Context

Camden National Corp operates within the National Commercial Banks industry.

Regulatory Implications

The filing is a Definitive Proxy Statement (DEF 14A) filed under the Securities Exchange Act of 1934.

What Investors Should Do

  1. Analyze the reported changes in pension values and equity awards for PEO and Non-PEO members.
  2. Compare executive compensation trends across the fiscal years 2020 to 2023.
  3. Evaluate the significance of equity awards granted in prior years and those forfeited during the year.

Year-Over-Year Comparison

This filing is a DEF 14A, which typically follows the company's annual report and focuses on proxy information for shareholder meetings, rather than presenting new financial performance data.

Filing Stats: 4,757 words · 19 min read · ~16 pages · Grade level 14 · Accepted 2024-04-05 11:52:07

Filing Documents

From the Filing

cac-20240405 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant Filed by a Party other than the Registrant o Check the appropriate box: o Preliminary Proxy Statement o Confidential, For Use of the Commission Only Definitive Proxy Statement o Definitive Additional Materials o Soliciting Material Pursuant to Rule 14a-11(c) or Rule 14a-12 CAMDEN NATIONAL CORP ORATION (Name of Registrant as Specified in Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required. o Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. o Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 Dear Shareholders: You are cordially invited to attend the 2024 Annual Meeting of Shareholders of Camden National Corporation, which will be held on Tuesday, May 21, 2024, at 9:00 a.m., Eastern Daylight Time (together with any adjournments or postponements thereof, the "Annual Meeting"). We will be holding the Annual Meeting virtually via a live audio webcast at www.virtualshareholdermeeting.com/CAC2024 and in person at Camden National Corporation's Hanley Center, Fox Ridge Office Park, 245 Commercial Street, Rockport, Maine 04856. You may attend the Annual Meeting virtually or in person. We encourage you to attend the Annual Meeting. The accompanying Notice of Annual Meeting of Shareholders describes matters to be acted upon at the Annual Meeting. Please give these materials your prompt attention. Whether or not you are able to attend the Annual Meeting, please follow the instructions to vote online, by telephone, or by mail. Submitting your vote by proxy will not limit your right to attend the Annual Meeting. If you attend the Annual Meeting virtually or in person, you may vote if you wish to do so, which will supersede your proxy. Your vote is extremely important, so please act at your earliest convenience. We appreciate your continued interest in Camden National Corporation. Sincerely, Lawrence J. Sterrs Chair of the Board Simon R. Griffiths President and Chief Executive Officer April 5, 2024 Notice of Annual Meeting of Shareholders to be held May 21, 2024 MEETING DETAILS Date Tuesday, May 21, 2024 Time 9:00 a.m., Eastern Daylight Time Location 245 Commercial Street, Rockport, Maine 04856 Virtual Live Audio Webcast at www.virtualshareholdermeeting.com/CAC2024 TO THE SHAREHOLDERS OF CAMDEN NATIONAL CORPORATION: NOTICE IS HEREBY GIVEN that the 2024 Annual Meeting of Shareholders of Camden National Corporation, a Maine corporation (the "Company"), will be held on Tuesday, May 21, 2024, at 9:00 a.m., Eastern Daylight Time, at Camden National Corporation's Hanley Center, Fox Ridge Office Park, 245 Commercial Street, Rockport, Maine 04856 and virtually via live audio webcast at www.virtualshareholdermeeting.com/CAC2024 (together with any adjournments or postponements thereof, the "Annual Meeting") for the purpose of considering and voting upon the following matters: 1 2 3 4 Election of Directors. Shareholder "Say-on-Pay." Ratification of Appointment of Independent Registered Public Accounting Firm. Other Business. To elect seven persons to the Company's Board of Directors, each for a term that expires in 2025. To approve, by a non-binding advisory vote, the compensation of the Company's named executive officers ("Say-on-Pay"). To ratify the appointment of RSM US LLP as the Company's independent registered public accounting firm for the year ending December 31, 2024. To consider and act upon such other business, matters or proposals as may properly come before the Annual Meeting. The Company's Board of Directors has fixed the close of business on March 25, 2024 as the record date (the "Record Date") for determining the shareholders of the Company entitled to receive notice of, and to vote at, the Annual Meeting. Only shareholders of record of the Company's common stock at the close of business on the Record Date are entitled to receive notice of, and to vote at, the Annual Meeting. ATTENDING AND VOTING AT THE ANNUAL MEETING Attending by virtual means: You will be able to attend the Annual Meeting virtually by visiting www.virtualshareholdermeeting.com/CAC2024 . To vote your shares or submit questions at the Annual Meeting, you must enter the control number found on your proxy card, voting instruction form or notice you previously received. If you do not have access to your control number, please contact Broadridge, no earlier than 30 minutes prior to the start of the Annual Meeting, at (844) 976-0738 (domestic) or (303) 562-9301 (international). If you hold your shares in a brokerage account and do not have access to your control number, neither the Company nor Broadridge w

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