William B. Kessel - Jan 21, 2023 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 21, 2023
Transactions value $
-$117,840
Form type
4
Date filed
1/23/2023, 02:07 PM
Previous filing
Dec 21, 2022
Next filing
Feb 7, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IBCP Common Stock Options Exercise +5.53K +4.27% 135K Jan 21, 2023 Direct F1
transaction IBCP Common Stock Tax liability -$62.5K -2.68K -1.99% $23.33 132K Jan 21, 2023 Direct
transaction IBCP Common Stock Tax liability -$55.3K -2.37K -1.79% $23.33 130K Jan 21, 2023 Direct
holding IBCP Common Stock 6.94K Jan 21, 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 -5.55K -100% $0.00* 0 Jan 21, 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.