Are the IBCP Phantom Stock Unit grants to Michael J. Cok open-market share purchases or sales?

The reported IBCP transactions are compensation grants , not market trades. Both are coded "A" for grant or award, reflecting deferred compensation in Phantom Stock Units that reference common stock value and settle in shares at retirement.

Independent Bank Corp (IBCP) director receives new phantom stock unit awards

Q: What insider transactions did IBCP director Michael J. Cok report on this Form 4?

Director Michael J. Cok reported two grants of Phantom Stock Units , not open-market trades. He received units on May 14, 2026 and 365.2200 units on July 1, 2026 as part of a deferred compensation plan.

Q: How many Phantom Stock Units does Michael J. Cok hold in IBCP after these grants?

After the July 1, 2026 grant, Michael J. Cok holds 28,617.9600 Phantom Stock Units . This balance reflects deferred director compensation that will be delivered in Independent Bank Corp. common stock when he retires from the board, per the plan terms.

Q: When will Michael J. Cok’s IBCP Phantom Stock Units be settled into common stock?

The Phantom Stock Units will be settled in IBCP common stock upon Michael J. Cok’s retirement as a director . Until then, units accumulate under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors.

Q: How are the number of IBCP Phantom Stock Units determined for non-employee directors?

According to the footnote, units are determined by dividing the accrual amount by 90% of the fair market value of Independent Bank Corp. common stock on the effective deferral date, which sets the credited Phantom Stock Units in the director’s account.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Cok Michael J reported acquisition or exercise transactions in this Form 4 filing.

Independent Bank Corp. director Michael J. Cok reported two compensation-related grants of Phantom Stock Units. On May 14, 2026, he received 232.7600 Phantom Stock Units at a reference value of $33.7100 per unit, bringing his phantom unit balance to 28,252.7400.

On July 1, 2026, he received an additional 365.2200 Phantom Stock Units at $32.4600 per unit, increasing his balance to 28,617.9600. According to the plan, these units are 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.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Cok Michael J

Role null

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	365.22	$32.46	$12K
Grant/Award	Phantom Stock Units	232.76	$33.71	$8K

Holdings After Transaction: Phantom Stock Units — 28,617.96 shares (Direct, null)

Footnotes (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. 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 units granted 2026-05-14: 232.7600 units Phantom units granted 2026-07-01: 365.2200 units Balance after May grant: 28,252.7400 units +3 more

6 metrics

Phantom units granted 2026-05-14 232.7600 units Grant of Phantom Stock Units at $33.7100 per unit

Phantom units granted 2026-07-01 365.2200 units Grant of Phantom Stock Units at $32.4600 per unit

Balance after May grant 28,252.7400 units Total Phantom Stock Units following 2026-05-14 grant

Balance after July grant 28,617.9600 units Total Phantom Stock Units following 2026-07-01 grant

Reference price May grant $33.7100 per unit Fair market value basis at effective date of deferral

Reference price July grant $32.4600 per unit Fair market value basis at effective date of deferral

Key Terms

Phantom Stock Units, Deferred Compensation and Stock Purchase Plan for Non Employee Directors, fair market value

3 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

"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.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 11:04 AM Accepted by SEC EDGAR 07/02/2026 - 11:03 AM

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^*

Cok Michael J

(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)
05/14/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock Units	⁽¹⁾	05/14/2026		A	V	232.76		⁽¹⁾	⁽¹⁾	Common Stock	232.76	$33.71	28,252.74	D
Phantom Stock Units	⁽²⁾	07/01/2026		A		365.22		⁽²⁾	⁽²⁾	Common Stock	365.22	$32.46	28,617.96	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	07/02/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did IBCP director Michael J. Cok report on this Form 4?

Director Michael J. Cok reported two grants of Phantom Stock Units, not open-market trades. He received units on May 14, 2026 and 365.2200 units on July 1, 2026 as part of a deferred compensation plan.

How many Phantom Stock Units does Michael J. Cok hold in IBCP after these grants?

After the July 1, 2026 grant, Michael J. Cok holds 28,617.9600 Phantom Stock Units. This balance reflects deferred director compensation that will be delivered in Independent Bank Corp. common stock when he retires from the board, per the plan terms.

When will Michael J. Cok’s IBCP Phantom Stock Units be settled into common stock?

The Phantom Stock Units will be settled in IBCP common stock upon Michael J. Cok’s retirement as a director. Until then, units accumulate under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors.

How are the number of IBCP Phantom Stock Units determined for non-employee directors?

According to the footnote, units are determined by dividing the accrual amount by 90% of the fair market value of Independent Bank Corp. common stock on the effective deferral date, which sets the credited Phantom Stock Units in the director’s account.