William B. Kessel - 21 Jan 2023 Form 4 Insider Report for INDEPENDENT BANK CORP /MI/ (IBCP)

Role
President & CEO, Director
Signature
s/Darcy J. Benjamin, Attorney-in-Fact
Issuer symbol
IBCP
Transactions as of
21 Jan 2023
Net transactions value
-$117,840
Form type
4
Filing time
23 Jan 2023, 14:07:28 UTC
Previous filing
21 Dec 2022
Next filing
07 Feb 2023
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 +5,531 +4.3% 134,987 21 Jan 2023 Direct F1
transaction IBCP Common Stock Tax liability $62,548 -2,681 -2% $23.33 132,306 21 Jan 2023 Direct
transaction IBCP Common Stock Tax liability $55,292 -2,370 -1.8% $23.33 129,936 21 Jan 2023 Direct
holding IBCP Common Stock 6,940 21 Jan 2023 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 -5,551 -100% $0.000000* 0 21 Jan 2023 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) represents 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.