Patrick J. Ervin - Jan 21, 2023 Form 4 Insider Report for INDEPENDENT BANK CORP /MI/ (IBCP)

Role
Executive Vice President
Signature
s/Darcy J. Benjamin, Attorney-in-Fact
Stock symbol
IBCP
Transactions as of
Jan 21, 2023
Transactions value $
-$50,253
Form type
4
Date filed
1/23/2023, 02:53 PM
Previous filing
Jan 28, 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 +2.2K +7.22% 32.7K Jan 21, 2023 Direct F1
transaction IBCP Common Stock Tax liability -$25.1K -1.08K -3.29% $23.33 31.6K Jan 21, 2023 Direct
transaction IBCP Common Stock Tax liability -$25.2K -1.08K -3.41% $23.33 30.5K Jan 21, 2023 Direct
holding IBCP Common Stock 1.01K 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 -2.21K -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.