Independent Bank Corp (IBCP) EVP exercises PSUs, nets more shares

Rhea-AI Filing Summary

Independent Bank Corp executive Gavin A. Mohr exercised performance-based equity awards and increased his ownership stake. He exercised performance rights covering 2,517 units, receiving 4,297 shares of Common Stock. Of these, 1,717 shares were withheld at $33.78 per share to cover tax obligations, leaving him with 27,338 directly held shares and an additional 924.94 shares held indirectly through an ESOP. These transactions reflect routine equity compensation activity rather than open-market buying or selling.

Insider Trade Summary

2,517 shares exercised/converted

Mixed 4 txns

Insider Mohr Gavin A.

Role Executive Vice President

Type	Security	Shares	Price	Value
Exercise	Performance Right	2,517	$0.00	--
Exercise	Common Stock	4,297	$0.00	--
Tax Withholding	Common Stock	1,717	$33.78	$58K
holding	Common Stock	--	--	--

Holdings After Transaction: Performance Right — 0 shares (Direct); Common Stock — 29,055 shares (Direct); Common Stock — 924.94 shares (Indirect, By ESOP)

Footnotes (1)

1. [object Object]

Key Figures

Performance rights exercised: 2,517 units Common shares acquired: 4,297 shares Shares withheld for taxes: 1,717 shares at $33.78 +2 more

5 metrics

Performance rights exercised 2,517 units Performance Right (PSU) exercise on 2026-04-06

Common shares acquired 4,297 shares Common Stock from derivative exercise on 2026-04-06

Shares withheld for taxes 1,717 shares at $33.78 Tax-withholding disposition on 2026-04-06

Direct holdings after transactions 27,338 shares Common Stock directly owned following Form 4 transactions

Indirect ESOP holdings 924.94 shares Common Stock held indirectly by ESOP after transactions

Key Terms

Performance Right (PSU), total shareholder return, tax-withholding disposition, ESOP

4 terms

Performance Right (PSU) financial

"Each Performance Right (PSU) represents a contingent right to receive not more than two (2) shares of Issuer Common Stock"

total shareholder return financial

"based upon the total shareholder return of Issuer's Common Stock, relative to its peer group index"

Total shareholder return is the overall gain an investor gets from owning a stock, combining changes in the share price plus any cash payouts like dividends, and assuming those payouts are reinvested in more shares. Investors use it like a single score that shows the true return on their investment—similar to checking both the growth of a savings account and the interest earned—to compare how well different companies or investments perform over time.

tax-withholding disposition financial

"Payment of exercise price or tax liability by delivering securities"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

ESOP financial

"nature_of_ownership": "By ESOP"

An Employee Stock Ownership Plan (ESOP) is a program that gives employees ownership shares in their company, often as part of their benefits package. It acts like a company-sponsored savings plan, allowing workers to have a stake in the company's success, which can boost motivation and loyalty. For investors, ESOPs can influence company decisions and stock value, making them an important aspect of corporate ownership and governance.

Form 4 Insider Transactions: What Each Field Means →

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^*

Mohr Gavin A.

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/06/2026

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
Common Stock	04/06/2026		M		4,297	A	(1)	29,055	D
Common Stock	04/06/2026		F		1,717	D	$33.78	27,338	D
Common Stock								924.94	I	By ESOP

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
Performance Right	(1)	04/06/2026		M			2,517	(1)	02/06/2026	Common Stock	(1)	$0	0	D

Explanation of Responses:

1. 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.

Remarks:

	s/Darcy J. Benjamin, Attorney-in-Fact	04/07/2026
	** 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)

FAQ

What insider transactions did Gavin A. Mohr report at IBCP?

Gavin A. Mohr reported exercising performance-based awards and related tax withholding. He acquired 4,297 shares of Common Stock and had 1,717 shares withheld to satisfy tax obligations, a routine equity compensation event rather than an open-market trade.

How many Independent Bank Corp (IBCP) shares does Gavin A. Mohr hold after these transactions?

After the transactions, Gavin A. Mohr holds 27,338 shares directly and 924.94 shares indirectly through an ESOP. This reflects his remaining stake following the exercise of performance rights and the share withholding used to cover associated tax liabilities.

Did the IBCP executive sell shares in the market in this Form 4?

The filing shows no open-market sale. Instead, 1,717 shares were disposed of as a tax-withholding transaction at $33.78 per share, covering taxes due on exercised awards, which is treated differently from a discretionary market sale.

What are the performance rights (PSUs) exercised by the IBCP executive?

The executive exercised 2,517 Performance Rights (PSUs). Each PSU represents a contingent right to receive up to two shares of Common Stock based on the bank’s total shareholder return versus a peer index, linking compensation to relative stock performance.

Is this IBCP Form 4 a routine equity compensation event?

Yes. The transactions reflect exercise of performance-based awards and tax withholding, common in executive compensation programs. Mohr’s net result is more directly held shares, with no indication of discretionary open-market purchases or sales in this filing.