William B. Kessel - Jan 22, 2022 Form 4 Insider Report for INDEPENDENT BANK CORP /MI/ (IBCP)

Role
President & CEO, Director
Signature
s/Darcy J. Benjamin, Attorney-in-Fact
Stock symbol
IBCP
Transactions as of
Jan 22, 2022
Transactions value $
-$108,896
Form type
4
Date filed
1/25/2022, 02:04 PM
Previous filing
Dec 15, 2021
Next filing
Jan 28, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IBCP Common Stock Options Exercise +4.45K +3.55% 130K Jan 22, 2022 Direct F1
transaction IBCP Common Stock Tax liability -$53.2K -2.17K -1.67% $24.46 128K Jan 22, 2022 Direct
transaction IBCP Common Stock Tax liability -$55.7K -2.28K -1.78% $24.46 125K Jan 22, 2022 Direct
holding IBCP Common Stock 6.45K Jan 22, 2022 By ESOP

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 Performance Right Options Exercise $0 -5.34K -100% $0.00* 0 Jan 22, 2022 Common Stock Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Performance Right (PSU) represented a contingent right to receive not more than two (2) shares of Issuer Common Stock, based upon the total shareholder return of Issuer's Common Stock, relative to its peer group index.