Joan A. Budden - 16 Aug 2021 Form 4 Insider Report for INDEPENDENT BANK CORP /MI/ (IBCP)

Role: Director
Signature: s/Darcy J. Benjamin, Attorney-in-Fact
Issuer symbol: IBCP
Transactions as of: 16 Aug 2021
Net transactions value: +$21,025
Form type: 4
Filing time: 01 Oct 2021, 18:50:23 UTC
Previous filing: 02 Aug 2021
Next filing: 03 Nov 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	IBCP	Common Stock						5,980	16 Aug 2021	Direct	F1
holding	IBCP	Common Stock						810	16 Aug 2021	By IRA

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	IBCP	Phantom Stock Units	Award	$4,527	+212	+0.98%	$21.38	21,767	16 Aug 2021	Common Stock	212		Direct	F2
transaction	IBCP	Phantom Stock Units	Award	$16,498	+854	+3.9%	$19.33	22,620	01 Oct 2021	Common Stock	854		Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Includes 16.66 shares acquired through dividend reinvestment program (DRIP) during the third quarter.
F2	The Phantom Stock Units were accrued for under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors and are to be settled in the Issuer's Common Stock upon the reporting person's retirement as a director.
F3	The Phantom Stock Units were accrued for under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors and are to be settled in the Issuer's Common Stock upon the reporting person's retirement as a director. The number of units credited to a participant's account is determined by dividing the accrual amount by 90% of the fair market value of the Issuer's Common Stock on the effective date of the deferral.