Bank of Marin (NASDAQ: BMRC) CEO loses 10,755 performance shares as 2023 goals miss
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Bank of Marin Bancorp President & CEO Timothy D. Myers reported an administrative equity change rather than a market trade. On 2026-03-25, he had 10,755 shares of Common Stock forfeited and cancelled for no consideration when 2023 performance-based restricted share goals were not achieved, resulting in a 0% payout. Following this forfeiture, he directly held 124,173.3268 shares of Common Stock. He also continues to hold multiple stock option awards with exercise prices between $22.94 and $44.45 per share, expiring between 2024 and 2032, which together represent a further equity stake tied to future company performance.
Positive
- None.
Negative
- None.
Insider Trade Summary
14 transactions reported
Mixed
14 txns
Insider
Myers Timothy D
Role
PRESIDENT & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock | 10,755 | $0.00 | -- |
| holding | Stock Options (Right to Buy) | -- | -- | -- |
| holding | Stock Options (Right to Buy) | -- | -- | -- |
| holding | Stock Options (Right to Buy) | -- | -- | -- |
| holding | Stock Options (Right to Buy) | -- | -- | -- |
| holding | Stock Options (Right to Buy) | -- | -- | -- |
| holding | Stock Options (Right to Buy) | -- | -- | -- |
| holding | Stock Options (Right to Buy) | -- | -- | -- |
| holding | Stock Options (Right to Buy) | -- | -- | -- |
| holding | Stock Options (Right to Buy) | -- | -- | -- |
| holding | Stock Options (Right to Buy) | -- | -- | -- |
| holding | Stock Options (Right to Buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 124,173.327 shares (Direct);
Stock Options (Right to Buy) — 1,300 shares (Direct);
Common Stock — 14,786.186 shares (Indirect, By ESOP)
Footnotes (1)
- Represents forfeiture and cancellation of performance-based restricted shares granted in 2023 that were issued at grant and subject to three-year cliff vesting. Performance goals were not achieved, resulting in a 0% payout and forfeiture of all shares for no consideration. Exercisable 20% per year beginning on first anniversary date of grant. Exercisable 33% per year beginning on first anniversary date of grant. Exercisable 33% immediately, then 33% per year on first anniversary date of grant.
FAQ
What insider transaction did Bank of Marin Bancorp (BMRC) report for its CEO?
Bank of Marin Bancorp reported that CEO Timothy D. Myers had 10,755 performance-based restricted shares forfeited and cancelled. The forfeiture occurred when 2023 performance goals were not achieved, resulting in a 0% payout and no consideration paid to Myers.
Does the BMRC CEO still hold stock options after this Form 4 event?
Yes. The BMRC CEO continues to hold several stock option grants on Common Stock. These options have exercise prices ranging from $22.94 to $44.45 per share and expiration dates between 2024 and 2032, representing additional long-term equity-linked compensation.