Independent Bank director granted phantom stock units

Keller Christina reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Keller Christina reported acquisition or exercise transactions in this Form 4 filing.

Independent Bank Corp. director Christina Keller received additional equity-based compensation through phantom stock units. On July 1, 2026, she was granted 635.34 phantom stock units at a reference price of $32.46 per unit, bringing her phantom unit balance to 25,044.29 units. An earlier grant on May 14, 2026 added 201.09 units at $33.71 per unit. 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 she retires from the board.

Insider Trade Summary

Grant/Award: 836.43 shares

Grant/Award 2 txns

Insider Keller Christina

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	635.34	$32.46	$21K
Grant/Award	Phantom Stock Units	201.09	$33.71	$7K

Holdings After Transaction: Phantom Stock Units — 25,044.29 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 units granted: 635.34 units Phantom units granted: 201.09 units Total phantom units held: 25,044.29 units +2 more

5 metrics

Phantom units granted 635.34 units Grant on July 1, 2026 at $32.46 reference price

Phantom units granted 201.09 units Grant on May 14, 2026 at $33.71 reference price

Total phantom units held 25,044.29 units Balance following July 1, 2026 grant

Underlying security 1 common share per unit Each phantom stock unit tracks Independent Bank common stock

Conversion price $0.00 per unit Phantom units under deferred compensation plan

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 for Non Employee Directors"

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.

FAQ

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

What did Christina Keller report in her latest Form 4 for IBCP?

Christina Keller reported grants of phantom stock units as equity-based compensation. She received 635.34 units on July 1, 2026 and 201.09 units on May 14, 2026, both tied to Independent Bank Corp.’s director deferred compensation and stock purchase plan.

How many phantom stock units does Christina Keller hold after these IBCP grants?

After the reported transactions, Christina Keller holds 25,044.29 phantom stock units. These units were credited under Independent Bank Corporation’s Deferred Compensation and Stock Purchase Plan for Non Employee Directors and are designed to mirror the value of the company’s common stock over time.

Are Christina Keller’s Form 4 IBCP transactions open-market buys or sales?

The transactions are not open-market buys or sales. They are grants of phantom stock units recorded as compensation under Independent Bank Corporation’s deferred compensation plan for non-employee directors, with units to be settled in common stock upon her retirement from the board.

When will Christina Keller’s IBCP phantom stock units be settled into common stock?

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

How are the number of IBCP phantom stock units determined for Christina Keller?

The number of phantom stock units is calculated by dividing the accrual amount by 90% of the fair market value of Independent Bank Corp.’s common stock on the deferral’s effective date, as specified in the Deferred Compensation and Stock Purchase Plan for Non Employee Directors.

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

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Accepted by SEC EDGAR 07/02/2026 - 10:35 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^*

Keller Christina

(Last) (First) (Middle)

4200 E BELTLINE AVE

(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)
			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)	05/14/2026		A	V	201.09		(1)	(1)	Common Stock	201.09	$33.71	24,408.95	D
Phantom Stock Units	(2)	07/01/2026		A		635.34		(2)	(2)	Common Stock	635.34	$32.46	25,044.29	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)