Joan A. Budden - 14 Aug 2023 Form 4 Insider Report for INDEPENDENT BANK CORP /MI/ (IBCP)

Role: Director
Signature: s/Darcy J. Benjamin, Attorney-in-Fact
Issuer symbol: IBCP
Transactions as of: 14 Aug 2023
Net transactions value: +$24,904
Form type: 4
Filing time: 02 Oct 2023, 10:27:44 UTC
Previous filing: 03 Aug 2023
Next filing: 03 Nov 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	IBCP	Common Stock						6,130	14 Aug 2023	Direct	F1
holding	IBCP	Common Stock						810	14 Aug 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	$7,150	+349	+1.1%	$20.49	31,432	14 Aug 2023	Common Stock	349		Direct	F2
transaction	IBCP	Phantom Stock Units	Award	$17,754	+1,075	+3.4%	$16.51	32,507	01 Oct 2023	Common Stock	1,075		Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Includes 20.69 shares acquired through dividend reinvestment program (DRIP) during the third 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.