Joan A. Budden - 15 Nov 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: 15 Nov 2021
Net transactions value: +$21,249
Form type: 4
Filing time: 04 Jan 2022, 08:20:08 UTC
Previous filing: 03 Nov 2021
Next filing: 02 Feb 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	IBCP	Common Stock						5,995	15 Nov 2021	Direct	F1
holding	IBCP	Common Stock						810	15 Nov 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	$4,751	+201	+0.89%	$23.59	22,822	15 Nov 2021	Common Stock	201		Direct	F2
transaction	IBCP	Phantom Stock Units	Award	$16,498	+768	+3.4%	$21.48	23,590	01 Jan 2022	Common Stock	768		Direct	F3

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

Explanation of Responses:

Id	Content
F1	Includes 15.25 shares acquired through dividend reinvestment program (DRIP) during the fourth 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 the 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.