Bank of Marin (BMRC) CEO lets several stock option grants expire
Rhea-AI Filing Summary
Bank of Marin Bancorp president and CEO Timothy D. Myers reported the expiration of several stock option awards without exercise. These include 1,300 options with a $22.94 exercise price that expired on April 1, 2024, 2,980 options at $25.38 that expired on March 2, 2025, and 5,380 options at $24.83 that expired on March 1, 2026.
The filing notes these options were fully vested but lapsed unexercised and that this Form 4 is being filed late due to an administrative oversight. Myers continues to hold 124,173.3268 shares of common stock directly, 14,786.186 shares indirectly through an ESOP, and multiple remaining option grants, including 4,629 options at $34.03 expiring in 2032 and 3,616 options at $38.11 expiring in 2031.
Positive
- None.
Negative
- None.
Insider Trade Summary
13 transactions reported
Mixed
13 txns
Insider
Myers Timothy D
Role
PRESIDENT & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| H | Stock Options (Right to Buy) | 5,380 | $0.00 | -- |
| H | Stock Options (Right to Buy) | 2,980 | $0.00 | -- |
| H | Stock Options (Right to Buy) | 1,300 | $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 | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Options (Right to Buy) — 0 shares (Direct);
Common Stock — 124,173.327 shares (Direct);
Common Stock — 14,786.186 shares (Indirect, By ESOP)
Footnotes (1)
- The stock option was granted on April 1, 2014 and vested in equal annual installments over five years, becoming fully exercisable on April 1, 2019. The option expired unexercised on April 1, 2024. This Form 4 is being filed late due to an administrative oversight. Exercisable 20% per year beginning on first anniversary date of grant. The stock option was granted on March 2, 2015 and vested in equal annual installments over three years, becoming fully exercisable on March 2, 2018. The option expired unexercised on March 2, 2025. This Form 4 is being filed late due to an administrative oversight. Exercisable 33% per year beginning on first anniversary date of grant. The stock option was granted on March 1, 2016 and vested in equal annual installments over three years, becoming fully exercisable on March 1, 2019. The option expired unexercised on March 1, 2026. This Form 4 is being filed late due to an administrative oversight. Exercisable 33% per year beginning on first anniversary date of grant.
Key Figures
Expired options 2024: 1,300 options at $22.94
Expired options 2025: 2,980 options at $25.38
Expired options 2026: 5,380 options at $24.83
+5 more
8 metrics
Expired options 2024
1,300 options at $22.94
Expired unexercised on April 1, 2024
Expired options 2025
2,980 options at $25.38
Expired unexercised on March 2, 2025
Expired options 2026
5,380 options at $24.83
Expired unexercised on March 1, 2026
Direct common stock holding
124,173.3268 shares
Common stock held directly as of April 1, 2024
Indirect ESOP holding
14,786.186 shares
Common stock held indirectly by ESOP as of April 1, 2024
Option block at $34.03
4,629 underlying shares
Options expiring March 1, 2032, held directly
Option block at $38.11
3,616 underlying shares
Options expiring October 29, 2031, held directly
Option block at $44.45
3,600 underlying shares
Options expiring March 1, 2029, held directly
Key Terms
Stock Options (Right to Buy), derivative expiration/cancellation, Employee Stock Ownership Plan, administrative oversight, +1 more
5 terms
Stock Options (Right to Buy) financial
"security_title": "Stock Options (Right to Buy)""
derivative expiration/cancellation financial
"transaction_action": "derivative expiration/cancellation""
Employee Stock Ownership Plan financial
"nature_of_ownership": "By ESOP""
An employee stock ownership plan (ESOP) is a company-run program that gives workers ownership stakes by allocating or letting them buy company shares, often through a retirement-style account. For investors, ESOPs matter because they align employees’ incentives with company performance—like turning staff into shareholders—which can boost productivity and long-term value but may also concentrate employee retirement savings in company stock, affecting financial risk and share demand.
administrative oversight regulatory
"This Form 4 is being filed late due to an administrative oversight."
exercise price financial
"conversion_or_exercise_price": "34.0300""
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider activity did Bank of Marin Bancorp (BMRC) report in this Form 4?
The Form 4 reports that CEO Timothy D. Myers had several vested stock option grants lapse unexercised. Specifically, options granted in 2014, 2015, and 2016 reached their expiration dates and were cancelled without being exercised, with no open-market share purchases or sales disclosed.
How many Bank of Marin Bancorp stock options expired for the CEO and at what prices?
Three option grants for CEO Timothy D. Myers expired unexercised: 1,300 options at $22.94, 2,980 options at $25.38, and 5,380 options at $24.83 per share. All were fully vested before expiration and represent a loss of potential, not an actual stock sale.
Does this BMRC Form 4 show any open-market buying or selling by the CEO?
The filing does not show any open-market purchases or sales. It records derivative expirations and current holdings, with transaction codes indicating option cancellations rather than buy or sell trades. The transaction summary shows no buy or sell share counts and a neutral net direction.
Why does the BMRC Form 4 mention an administrative oversight?
Footnotes explain the Form 4 is filed late because of an administrative oversight. Options granted in 2014, 2015, and 2016 expired unexercised on their respective 2024–2026 expiration dates, and the company notes the delay in reporting these routine derivative expirations in the insider trading report.
What future stock option rights does the Bank of Marin CEO still have according to this filing?
The derivative summary lists multiple remaining option grants on BMRC common stock, such as 4,629 options at $34.03 expiring March 1, 2032 and 3,600 options at $44.45 expiring March 1, 2029. These options provide potential future share acquisitions if exercised before expiration.