Joel F. Rahn - 21 Jan 2023 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
21 Jan 2023
Net transactions value
-$10,149
Form type
4
Filing time
23 Jan 2023, 15:32:51 UTC
Previous filing
28 Jan 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 +247 +1.7% 15,082 21 Jan 2023 Direct F1
transaction IBCP Common Stock Tax liability $2,520 -108 -0.72% $23.33 14,974 21 Jan 2023 Direct
transaction IBCP Common Stock Tax liability $7,629 -327 -2.2% $23.33 14,647 21 Jan 2023 Direct
holding IBCP Common Stock 593 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 -248 -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.