Bank of Marin Bancorp (BMRC) EVP forfeits 3,222 performance-based shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Bank of Marin Bancorp Executive Vice President Misako Stewart reported the forfeiture and cancellation of 3,222 shares of Common Stock on March 25, 2026. These were performance-based restricted shares granted in 2023, and performance goals were not achieved, resulting in a 0% payout and forfeiture for no consideration.
After this compensation-related adjustment, she directly holds 27,785 Common shares, plus 4,623.5366 Common shares held indirectly through an ESOP. She also continues to hold multiple stock option awards on Common Stock with exercise prices between $22.94 and $44.45 expiring from 2024 through 2032.
Positive
- None.
Negative
- None.
Insider Trade Summary
13 transactions reported
Mixed
13 txns
Insider
Stewart Misako
Role
EXECUTIVE VICE PRESIDENT
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock | 3,222 | $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 | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 27,785 shares (Direct);
Stock Options (Right to Buy) — 520 shares (Direct);
Common Stock — 4,623.537 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 the first anniversary date of grant.
FAQ
What did Bank of Marin Bancorp (BMRC) EVP Misako Stewart report in this Form 4?
She reported a forfeiture of 3,222 performance-based restricted shares. These 2023-granted shares were subject to three-year cliff vesting and performance goals. Because goals were not met, the payout was 0% and all shares were canceled for no consideration.
Were there any open-market buy or sell transactions in this BMRC Form 4?
No open-market purchases or sales were reported. The filing shows one “other” transaction for restructuring involving forfeiture of 3,222 performance-based restricted shares and several entries updating holdings and stock option positions, with no reported buy or sell codes.