Joel F. Rahn - 22 Jan 2022 Form 4 Insider Report for INDEPENDENT BANK CORP /MI/ (IBCP)

Role: Executive Vice President
Signature: s/Darcy J. Benjamin, Attorney-in-Fact
Issuer symbol: IBCP
Transactions as of: 22 Jan 2022
Net transactions value: -$8,023
Form type: 4
Filing time: 25 Jan 2022, 14:33:26 UTC
Next filing: 28 Jan 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	IBCP	Common Stock	Options Exercise		+198	+1.6%		12,809	22 Jan 2022	Direct	F1
transaction	IBCP	Common Stock	Tax liability	$1,737	-71	-0.55%	$24.46	12,738	22 Jan 2022	Direct
transaction	IBCP	Common Stock	Tax liability	$6,286	-257	-2%	$24.46	12,481	22 Jan 2022	Direct
holding	IBCP	Common Stock						344	22 Jan 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	-238	-100%	$0.000000^*	0	22 Jan 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.