Joan Budden - Feb 24, 2023 Form 4 Insider Report for INDEPENDENT BANK CORP /MI/ (IBCP)

Role
Director
Signature
s/Darcy J. Benjamin, Attorney-in-Fact
Stock symbol
IBCP
Transactions as of
Feb 24, 2023
Transactions value $
$24,209
Form type
4
Date filed
4/4/2023, 08:55 AM
Previous filing
Feb 3, 2023
Next filing
May 3, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding IBCP Common Stock 6.08K Feb 24, 2023 Direct F1
holding IBCP Common Stock 810 Feb 24, 2023 By IRA

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 Phantom Stock Units Award $6.46K +289 +1.03% $22.37 28.4K Feb 24, 2023 Common Stock 289 Direct F2
transaction IBCP Phantom Stock Units Award $17.7K +1.11K +3.91% $15.99 29.5K Apr 1, 2023 Common Stock 1.11K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 18.49 shares acquired through dividend reinvestment program (DRIP) during the first quarter.
F2 The Phantom Stock Units were accrued for under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors and are to be settled in the Issuer's Common Stock upon the reporting person's retirement as a director.
F3 The Phantom Stock Units were accrued for under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors and are to be settled in the Issuer's Common Stock upon the reporting person's retirement as a director. The number of the units credited to a participant's account is determined by dividing the accrual amount by 90% of the fair market value of the Issuer's Common Stock on the effective date of the deferral.