[Form 4] INDEPENDENT BANK CORP /MI/ Insider Trading Activity

Rhea-AI Filing Summary

Archer Dennis W. Jr, a director of Independent Bank Corporation (IBCP), reported a change in beneficial ownership dated 08/15/2025. The Form 4 records Phantom Stock Units accrued under the bank's Deferred Compensation and Stock Purchase Plan for Non‑Employee Directors; those units are to be settled in the issuer's common stock upon the reporting person's retirement as a director. The filing lists numeric entries including 52.19, a price of $31.11, and 6,297.08 in the reporting table. The form is signed by an attorney‑in‑fact on 10/01/2025.

Positive

• Transparent disclosure of director compensation through accrued Phantom Stock Units and settlement terms
• Form filed and signed (attorney‑in‑fact signature present), indicating procedural compliance

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Non‑employee director received accrued phantom stock units that convert to common shares at retirement, a routine director compensation disclosure.

The Form 4 documents deferred compensation in the form of Phantom Stock Units under the issuer's plan for non‑employee directors. This is a standard non‑cash director benefit that vests or is settled upon retirement, and the filing notifies investors of potential future issuance of common stock upon settlement. The disclosure helps maintain transparency about possible dilution from director compensation but does not, by itself, indicate immediate share issuance or sale.

Securities Compliance Analyst

TL;DR: Filing appears procedural and compliant, recording the accrual and settlement terms for phantom units rather than a market transaction.

The Form 4 shows a derivative‑style entry (Phantom Stock Units) with associated numeric values and cites the plan governing settlement. The signature by an attorney‑in‑fact and inclusion of transaction and filing dates meet form requirements. No outright sale or open‑market purchase of common stock is reported; the entry documents compensation accrual subject to future settlement conditions.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Archer Dennis W. Jr

(Last) (First) (Middle)

4200 E BELTLINE

(Street)

GRAND RAPIDS MI 49525

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
INDEPENDENT BANK CORP /MI/ [ IBCP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock Units	(1)	08/15/2025		A	V	52.19		(1)	(1)	Common Stock	52.19	$31.11	6,297.08	D

Explanation of Responses:

1. 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.

Remarks:

	s/Darcy J. Benjamin, Attorney-in-Fact	10/01/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Archer Dennis W. Jr report on the Form 4 for IBCP?

The filing reports accrued Phantom Stock Units under the bank's Deferred Compensation and Stock Purchase Plan for Non‑Employee Directors, dated 08/15/2025.

Will the Phantom Stock Units be converted to common stock?

The form states the units are to be settled in the issuer's common stock upon the reporting person's retirement as a director.

Does the Form 4 show an immediate sale or purchase of IBCP shares?

No. The entry documents an accrued phantom unit grant to be settled later; it does not report an open‑market purchase or sale of common stock.

What numeric details are included in the filing?

The reporting table includes the figures 52.19, a price of $31.11, and 6,297.08 as listed in the Form 4's transaction detail.

Who signed the Form 4 and when was it signed?

The Form 4 bears the signature of Darcy J. Benjamin, Attorney‑in‑Fact dated 10/01/2025.