Joel F. Rahn - Jan 26, 2024 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 26, 2024
Transactions value $
-$49,716
Form type
4
Date filed
1/30/2024, 05:09 PM
Previous filing
Feb 7, 2023
Next filing
Feb 8, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IBCP Common Stock Options Exercise +2.73K +15.64% 20.2K Jan 26, 2024 Direct F1, F2
transaction IBCP Common Stock Tax liability -$25.3K -979 -4.86% $25.84 19.2K Jan 26, 2024 Direct
transaction IBCP Common Stock Tax liability -$24.4K -945 -4.93% $25.84 18.2K Jan 26, 2024 Direct
holding IBCP Common Stock 858 Jan 26, 2024 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 -2.66K -100% $0.00* 0 Jan 26, 2024 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.
F2 Includes 353.11 shares acquired through dividend reinvestment program (DRIP) during the second quarter.