Teresa A. Herbert - 05 Dec 2021 Form 4 Insider Report for INDEPENDENCE HOLDING CO

Role: President, Director
Signature: /s/Teresa A. Herbert
Issuer symbol: N/A
Transactions as of: 05 Dec 2021
Net transactions value: -$758,974
Form type: 4
Filing time: 07 Dec 2021, 16:25:44 UTC
Previous filing: 26 Nov 2021
Next filing: 09 Feb 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	IHC	Common Stock	Options Exercise	$760,375	+27,500	+32%	$27.65	113,615	05 Dec 2021	Direct
transaction	IHC	Common Stock	Tax liability	$1,010,223	-17,839	-16%	$56.63	95,776	05 Dec 2021	Direct	F1
transaction	IHC	Common Stock	Options Exercise	$1,178,741	+31,534	+33%	$37.38	127,310	05 Dec 2021	Direct
transaction	IHC	Common Stock	Tax liability	$1,369,087	-24,176	-19%	$56.63	103,134	05 Dec 2021	Direct	F3
transaction	IHC	Common Stock	Options Exercise	$304,150	+11,000	+11%	$27.65	114,134	05 Dec 2021	Direct
transaction	IHC	Common Stock	Disposed to Issuer	$622,930	-11,000	-9.6%	$56.63	103,134	05 Dec 2021	Direct

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	IHC	Employee Stock Option (Right to Buy)	Options Exercise	$0	-27,500	-100%	$0.000000^*	0	05 Dec 2021	Common Stock	27,500	$27.65	Direct	F2
transaction	IHC	Employee Stock Option (Right to Buy)	Options Exercise	$0	-31,534	-100%	$0.000000^*	0	05 Dec 2021	Common Stock	31,534	$37.38	Direct	F2
transaction	IHC	Stock Appreciation Right	Options Exercise	$0	-11,000	-100%	$0.000000^*	0	05 Dec 2021	Common Stock	11,000	$27.65	Direct	F2

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

Explanation of Responses:

Id	Content
F1	Represents a "net exercise"of stock option. The reporting person received 9,661 shares of common stock on net exercise option to purchase 27,500 shares of common stock. The Comapny withheld 17,839 shares of common stock underlying the option for payment of the exercise price and applicable taxes, based on the closing stock price on December 3, 2021 of $56.63.
F2	Vests in three equal annual installments beginning on the one-year anniversary of the grant date.
F3	Represents a "net exercise" of stock option. The reporting person received 7,358 shares of common stock on net exercise option to purchase 31,534 shares of common stock. The Company withheld 24,176 shares of common stock underlying the option for payment of the exercise price and applicable taxes based on the closing stock price onDecember 3, 2021 of $56.63.