[Form 4] INDEPENDENT BANK CORP /MI/ Insider Trading Activity
Independent Bank Corporation (IBCP) Form 4 discloses that director Christina Keller was credited with phantom stock units under the company's Deferred Compensation and Stock Purchase Plan for Non-Employee Directors. On 08/15/2025, 180.28 phantom units were granted (credited as 180.28 underlying common shares at $31.11 per share), and on 10/01/2025 an additional 717.31 units were credited (credited as 717.31 underlying common shares at $27.88 per share). The reported post-transaction beneficial ownership totals 22,469.05 common shares. The phantom units are to be settled in common stock upon the reporting person's retirement as a director and were accrued under the deferred compensation plan; one accrual formula is based on dividing the accrual amount by 90% of fair market value on the deferral effective date.
Independent Bank Corporation (IBCP) Il modulo 4 rivela che la direttrice Christina Keller è stata accreditata con unità azionarie fantasma ai sensi del piano di compensazione differita e di acquisto azionario per i direttori non dipendenti. Il 08/15/2025 sono state concesse 180.28 unità fantasma (accreditate come 180.28 azioni ordinarie sottostanti a 31,11 dollari per azione), e il 10/01/2025 ulteriori 717.31 unità sono state accreditate (accreditate come 717.31 azioni ordinarie sottostanti a 27,88 dollari per azione). Il totale di proprietà beneficial post-trasazione riportato ammonta a 22,469.05 azioni ordinarie. Le unità fantasma dovrebbero essere liquidate in azioni ordinarie al momento della pensione della persona che riporta i dati come direttore e sono state maturate secondo il piano di compensazione differita; una formula di accrual si basa sul dividere l'importo di accrual per il 90% del fair market value (valore equo di mercato) nella data di efficacia del differimento.
Independent Bank Corporation (IBCP) Formulario 4 revela que la directora Christina Keller recibió unidades de acciones fantasma bajo el Plan de Compensación Diferida y Compra de Acciones para Directores no Empleados. El 15/08/2025 se concedieron 180.28 unidades fantasma (registradas como 180.28 acciones ordinarias subyacentes a un precio de $31.11 por acción), y el 01/10/2025 se acreditaron adicionalmente 717.31 unidades (registradas como 717.31 acciones ordinarias subyacentes a $27.88 por acción). Las acciones beneficiosas reportadas tras la transacción ascienden a 22,469.05 acciones ordinarias. Las unidades fantasma deben liquidarse en acciones ordinarias al momento de la jubilación de la persona reportada como directora y fueron acumuladas bajo el plan de compensación diferida; una de las fórmulas de acumulación se basa en dividir el monto de acumulación entre el 90% del valor razonable de mercado en la fecha de entrada en vigor del diferimiento.
Independent Bank Corporation (IBCP)의 Form 4는 이사인 Christina Keller가 비직원 이사를 위한 지연 보상 및 주식 매입 계획에 따라 유령 주식 단위가 적립되었음을 공개합니다. 2025년 8월 15일 180.28 유령 단위가 부여되었고(주당 31.11달러의 180.28 기초 일반 주식으로 계상), 2025년 10월 1일 추가로 717.31 단위가 적립되었으며(717.31 주당 27.88달러의 기초 일반 주식으로 계상). 보고된 거래 후 실질 소유권 총계는 22,469.05주 일반주로 나타납니다. 유령 단위는 보고자 이사가 은퇴할 때 일반주로 settle 되며, 지연 보상 계획 하에 accrue되었습니다; 누적 공식 중 하나는 누적 금액을 차감의 유효시장가의 90%로 나누는 것을 기반으로 합니다.
Independent Bank Corporation (IBCP) Formulaire 4 révèle que la directrice Christina Keller a été créditée de unités d’actions fantômes dans le cadre du Plan de Compensation Différée et d’Achat d’Actions pour les administrateurs non salariés. Le 15/08/2025, 180.28 unités fantômes ont été accordées (libellées en 180.28 actions ordinaires sous-jacentes à 31,11 $ par action), et le 01/10/2025, une quantité additionnelle de 717.31 unités a été créditée (libellées en 717.31 actions ordinaires sous-jacentes à 27,88 $ par action). Le total de propriété bénéficiaire post-transaction rapporté est de 22,469.05 actions ordinaires. Les unités fantômes doivent être réglées en actions ordinaires lors de la retraite de la personne rapportant les informations en tant que administratrice et ont été accrues dans le cadre du plan de compensation différée; l’une des formules d’accrual consiste à diviser le montant d'accumulation par 90 % de la juste valeur marchande à la date d’entrée en vigueur du report.
Independent Bank Corporation (IBCP) Form 4 offenbart, dass Direktoren Christina Keller im Rahmen des Deferred Compensation and Stock Purchase Plan for Non-Employee Directors mit Phantomaktieneinheiten gutgeschrieben wurden. Am 15.08.2025 wurden 180.28 Phantomaktien gewährt (gutgeschrieben als 180.28 zugrundeliegende Stammaktien zu je 31,11 $), und am 01.10.2025 wurden zusätzlich 717.31 Einheiten gutgeschrieben (gutgeschrieben als 717.31 zugrundeliegende Stammaktien zu je 27,88 $). Die berichteten post-transaction beneficial ownership-Beträge belaufen sich auf 22,469.05 Stammaktien. Die Phantomaktien sollen bei der Pensionierung der berichtenden Person als Direktor in Stammaktien beglichen werden und wurden gemäß dem Deferred Compensation Plan accrualiert; eine Berechnungsformel basiert darauf, den Accrual-Betrag durch 90% des fairen Marktwerts am Datum des Deferrals zu teilen.
Independent Bank Corporation (IBCP) يبيّن النموذج 4 أن المديرة كريستينا كيلر قد منحَت وحدات أسهم وهمية بموجب خطة التعويض المؤجل وشراء الأسهم للمؤسسات غير الموظفين. في 15/08/2025، تم منح 180.28 وحدة وهمية (مُسجّلة كـ 180.28 سهماً عادياً أساسياً بسعر 31.11 دولار للسهم)، وفي 01/10/2025 تم تسجيل وحدات إضافية قدرها 717.31 (مُسجلة كـ 717.31 سهماً عادياً أساسياً بسعر 27.88 دولار للسهم). الملاك المستفيدون المعلنون بعد الصفقة يبلغون 22,469.05 سهماً عادياً. يجب تسوية الوحدات الوهمية باعتمادها في الأسهم العادية عند تقاعد الشخص المبلّغ عنه كمدير، وقد تم احتسابها بموجب خطة التعويض المُؤجل؛ إحدى صيغ التراكم تستند إلى قسمة مبلغ التراكم على 90% من القيمة السوقية العادلة في تاريخ سريان التأجيل.
Independent Bank Corporation (IBCP) 的 Form 4 显示董事 Christina Keller 在公司为非员工董事设立的延期补偿与股票购买计划下获得了幻影股票单位。2025/08/15，授予了 180.28 单位幻影股票（记为 180.28 股基于31.11美元/股的普通股），2025/10/01 另获得 717.31 单位（记为 717.31 股基于27.88美元/股的普通股）。报告的交易后受益所有权总计为 22,469.05 股普通股。幻影单位将在报告人作为董事退休时以普通股结算，并按延期计划累计；一种累积公式是将累积金额除以延期生效日公允市场价值的90%。
- Director compensation aligned with shareholders via phantom stock units that settle in common stock upon retirement
- Clear disclosure of unit amounts, underlying share equivalents, and the plan formula (division by 90% of FMV) providing transparency
- Future dilution potential when phantom units are settled in common stock upon retirement
- No immediate cash or tax clarity in the filing about timing of settlement beyond 'upon retirement', leaving the timing of share issuance unspecified
Insights
TL;DR: Director received deferred-compensation phantom stock units that convert to common shares at retirement; impact is typically modest and non-cash today.
The Form 4 shows non-derivative economic compensation for a director recorded as phantom stock units rather than an immediate cash payout. These grants increase the director's future equity interest that will be settled in common stock upon retirement, adding alignment between management and shareholders without immediate dilution or cash expense. The disclosed share equivalents (totaling ~898 units across two grants) are precise and priced in the filing; the current beneficial ownership reported is 22,469.05 shares. For investors, this is a routine director compensation disclosure rather than a material corporate event.
TL;DR: Use of phantom stock in a director deferred-compensation plan is a standard governance mechanism to align interests and defer taxation.
The filing clarifies plan mechanics: units accrue under the Deferred Compensation and Stock Purchase Plan for Non-Employee Directors and settle in common stock at retirement. The formula note (division by 90% of fair market value) is an explicit plan detail affecting unit counts. This structure supports director retention and alignment but creates a future settlement obligation in shares. The disclosure is clear and complies with Section 16 reporting requirements; there is no indication of acceleration, cash payments, or changes to plan terms in this filing.
Independent Bank Corporation (IBCP) Il modulo 4 rivela che la direttrice Christina Keller è stata accreditata con unità azionarie fantasma ai sensi del piano di compensazione differita e di acquisto azionario per i direttori non dipendenti. Il 08/15/2025 sono state concesse 180.28 unità fantasma (accreditate come 180.28 azioni ordinarie sottostanti a 31,11 dollari per azione), e il 10/01/2025 ulteriori 717.31 unità sono state accreditate (accreditate come 717.31 azioni ordinarie sottostanti a 27,88 dollari per azione). Il totale di proprietà beneficial post-trasazione riportato ammonta a 22,469.05 azioni ordinarie. Le unità fantasma dovrebbero essere liquidate in azioni ordinarie al momento della pensione della persona che riporta i dati come direttore e sono state maturate secondo il piano di compensazione differita; una formula di accrual si basa sul dividere l'importo di accrual per il 90% del fair market value (valore equo di mercato) nella data di efficacia del differimento.
Independent Bank Corporation (IBCP) Formulario 4 revela que la directora Christina Keller recibió unidades de acciones fantasma bajo el Plan de Compensación Diferida y Compra de Acciones para Directores no Empleados. El 15/08/2025 se concedieron 180.28 unidades fantasma (registradas como 180.28 acciones ordinarias subyacentes a un precio de $31.11 por acción), y el 01/10/2025 se acreditaron adicionalmente 717.31 unidades (registradas como 717.31 acciones ordinarias subyacentes a $27.88 por acción). Las acciones beneficiosas reportadas tras la transacción ascienden a 22,469.05 acciones ordinarias. Las unidades fantasma deben liquidarse en acciones ordinarias al momento de la jubilación de la persona reportada como directora y fueron acumuladas bajo el plan de compensación diferida; una de las fórmulas de acumulación se basa en dividir el monto de acumulación entre el 90% del valor razonable de mercado en la fecha de entrada en vigor del diferimiento.
Independent Bank Corporation (IBCP)의 Form 4는 이사인 Christina Keller가 비직원 이사를 위한 지연 보상 및 주식 매입 계획에 따라 유령 주식 단위가 적립되었음을 공개합니다. 2025년 8월 15일 180.28 유령 단위가 부여되었고(주당 31.11달러의 180.28 기초 일반 주식으로 계상), 2025년 10월 1일 추가로 717.31 단위가 적립되었으며(717.31 주당 27.88달러의 기초 일반 주식으로 계상). 보고된 거래 후 실질 소유권 총계는 22,469.05주 일반주로 나타납니다. 유령 단위는 보고자 이사가 은퇴할 때 일반주로 settle 되며, 지연 보상 계획 하에 accrue되었습니다; 누적 공식 중 하나는 누적 금액을 차감의 유효시장가의 90%로 나누는 것을 기반으로 합니다.
Independent Bank Corporation (IBCP) Formulaire 4 révèle que la directrice Christina Keller a été créditée de unités d’actions fantômes dans le cadre du Plan de Compensation Différée et d’Achat d’Actions pour les administrateurs non salariés. Le 15/08/2025, 180.28 unités fantômes ont été accordées (libellées en 180.28 actions ordinaires sous-jacentes à 31,11 $ par action), et le 01/10/2025, une quantité additionnelle de 717.31 unités a été créditée (libellées en 717.31 actions ordinaires sous-jacentes à 27,88 $ par action). Le total de propriété bénéficiaire post-transaction rapporté est de 22,469.05 actions ordinaires. Les unités fantômes doivent être réglées en actions ordinaires lors de la retraite de la personne rapportant les informations en tant que administratrice et ont été accrues dans le cadre du plan de compensation différée; l’une des formules d’accrual consiste à diviser le montant d'accumulation par 90 % de la juste valeur marchande à la date d’entrée en vigueur du report.
Independent Bank Corporation (IBCP) Form 4 offenbart, dass Direktoren Christina Keller im Rahmen des Deferred Compensation and Stock Purchase Plan for Non-Employee Directors mit Phantomaktieneinheiten gutgeschrieben wurden. Am 15.08.2025 wurden 180.28 Phantomaktien gewährt (gutgeschrieben als 180.28 zugrundeliegende Stammaktien zu je 31,11 $), und am 01.10.2025 wurden zusätzlich 717.31 Einheiten gutgeschrieben (gutgeschrieben als 717.31 zugrundeliegende Stammaktien zu je 27,88 $). Die berichteten post-transaction beneficial ownership-Beträge belaufen sich auf 22,469.05 Stammaktien. Die Phantomaktien sollen bei der Pensionierung der berichtenden Person als Direktor in Stammaktien beglichen werden und wurden gemäß dem Deferred Compensation Plan accrualiert; eine Berechnungsformel basiert darauf, den Accrual-Betrag durch 90% des fairen Marktwerts am Datum des Deferrals zu teilen.
FAQ
What transactions did Christina Keller report on the IBCP Form 4?
How many common share equivalents does Christina Keller beneficially own after these transactions?
How will the phantom stock units be settled?
How is the number of phantom units determined under the plan?
What prices are disclosed for the underlying common stock equivalents?
