IBCP director granted phantom stock units

Wooldridge Michael G. reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Wooldridge Michael G. reported acquisition or exercise transactions in this Form 4 filing.

Independent Bank Corp. director Michael G. Wooldridge received additional phantom stock units as director compensation. On April 1, he was granted 148.400 phantom stock units tied to the company’s common stock, bringing his holdings in these units to 286.080.

These phantom stock units were accrued under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors and will be settled in common stock when he retires from the board. Earlier, on February 13, he received 1.050 phantom stock units under the same plan.

Insider Trade Summary

Grant/Award: 149.45 shares

Grant/Award 2 txns

Insider Wooldridge Michael G.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	148.4	$29.97	$4K
Grant/Award	Phantom Stock Units	1.05	$36.28	$38.09

Holdings After Transaction: Phantom Stock Units — 286.08 contracts (Direct)

Footnotes (2)

1. F1. 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.
2. 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. 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.

Key Figures

Phantom stock units granted: 148.400 units Phantom stock units granted: 1.050 units Units held after latest grant: 286.080 units +1 more

4 metrics

Phantom stock units granted 148.400 units Grant on April 1, 2026 to director Michael G. Wooldridge

Phantom stock units granted 1.050 units Grant on February 13, 2026 to director Michael G. Wooldridge

Units held after latest grant 286.080 units Total phantom stock units following April 1, 2026 grant

Reference prices per unit $29.97 and $36.28 Transaction price per phantom stock unit for April 1 and February 13, 2026

Key Terms

Phantom Stock Units, Deferred Compensation and Stock Purchase Plan for Non Employee Directors, fair market value, settled in the Issuer's Common Stock

4 terms

Phantom Stock Units financial

"The Phantom Stock Units were accrued for under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan"

Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.

Deferred Compensation and Stock Purchase Plan for Non Employee Directors financial

"accrued for under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors"

fair market value financial

"determined by dividing the accrual amount by 90% of the fair market value of the Issuer's Common Stock"

The price a willing buyer and a willing seller would agree on for an asset or security when neither is under pressure and both have access to the same information. Think of it as the market’s neutral estimate of what something is worth, like the price two neighbors would settle on for a car after comparing similar listings. Investors care because fair market value guides buying and selling decisions, tax reporting, portfolio valuation, and how accurately company assets are reflected in financial statements.

settled in the Issuer's Common Stock financial

"are to be settled in the Issuer's Common Stock upon the reporting person's retirement as a director"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Michael G. Wooldridge report in this IBCP Form 4 filing?

Michael G. Wooldridge reported grants of phantom stock units as director compensation. He received 148.400 units on April 1 and 1.050 units on February 13, all tied to Independent Bank Corp.’s common stock under a deferred compensation plan.

How many phantom stock units does Michael G. Wooldridge hold after these IBCP grants?

After the most recent grant, Michael G. Wooldridge holds 286.080 phantom stock units. These units track the value of Independent Bank Corp.’s common stock and are credited under the company’s Deferred Compensation and Stock Purchase Plan for Non Employee Directors.

When will the IBCP phantom stock units granted to Michael G. Wooldridge be settled?

The phantom stock units will be settled in Independent Bank Corp. common stock upon Michael G. Wooldridge’s retirement as a director. Until then, the units remain bookkeeping entries under the Deferred Compensation and Stock Purchase Plan for Non Employee Directors.

What is the basis for determining the number of phantom stock units in IBCP’s director plan?

The number of phantom stock units credited is determined by dividing the accrual amount by 90% of the fair market value of Independent Bank Corp.’s common stock on the effective date of the deferral, according to the director deferred compensation and stock purchase plan.

Are Michael G. Wooldridge’s IBCP transactions open-market stock purchases or sales?

No. The reported transactions are grants of phantom stock units as compensation, not open-market stock purchases or sales. They are accrued under Independent Bank Corp.’s Deferred Compensation and Stock Purchase Plan for Non Employee Directors and convert into shares only at retirement.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/02/2026 - 11:40 AM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Wooldridge Michael G.

(Last) (First) (Middle)

4200 E BELTLINE

(Street)

GRAND RAPIDS MICHIGAN 49525

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
02/13/2026

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

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

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

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)	02/13/2026		A	V	1.05		(1)	(1)	Common Stock	1.05	$36.28	137.68	D
Phantom Stock Units	(2)	04/01/2026		A		148.4		(2)	(2)	Common Stock	148.4	$29.97	286.08	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.

2. 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.

Remarks:

	s/Darcy J. Benjamin, Attorney-in-Fact	04/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)