Bank of Marin (BMRC) EVP sees 2,212-share award cancelled
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Bank of Marin Bancorp executive vice president Robert Gotelli reported the forfeiture and cancellation of 2,212 shares of Common Stock on March 25, 2026. These were performance-based restricted shares granted in 2023 with three-year cliff vesting; performance goals were not achieved, resulting in a 0% payout and forfeiture for no consideration.
Following this, Gotelli directly holds 36,460 Common shares, plus 17,151.0485 shares held indirectly through an ESOP. He also retains multiple stock option grants on Common Stock with exercise prices ranging from $22.94 to $44.45 and expirations between 2024 and 2032.
Positive
- None.
Negative
- None.
Insider Trade Summary
14 transactions reported
Mixed
14 txns
Insider
Gotelli Robert
Role
EXECUTIVE VICE PRESIDENT
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock | 2,212 | $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 — 36,460 shares (Direct);
Stock Options (Right to Buy) — 1,300 shares (Direct);
Common Stock — 17,151.049 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 beginning on first anniversary date of grant.
FAQ
What insider transaction did Bank of Marin Bancorp (BMRC) report for Robert Gotelli?
Bank of Marin Bancorp executive vice president Robert Gotelli reported the forfeiture of 2,212 performance-based restricted Common Stock shares. The award, granted in 2023 with three-year cliff vesting, paid out at 0% after performance goals were not achieved, so all shares were cancelled.
How are ESOP holdings reported for Bank of Marin Bancorp (BMRC) in this Form 4?
The Form 4 shows 17,151.0485 Bank of Marin Bancorp Common shares held indirectly "By ESOP." These ESOP shares are reported as indirect ownership for Robert Gotelli, separate from his 36,460 directly held Common shares disclosed in the same filing.