Independent Bank Corp (IBCP) director awarded 461.5800 phantom units
Rhea-AI Filing Summary
Tagg Nathaniel Ernest reported acquisition or exercise transactions in this Form 4 filing.
Independent Bank Corp director Nathaniel Ernest Tagg received a grant of 461.5800 Phantom Stock Units on July 31, 2026 under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors. These units track the value of common stock and are to be settled in common shares when he retires as a director. Following this award, he holds 461.5800 Phantom Stock Units directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Tagg Nathaniel Ernest
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Units F1 | 461.58 | $34.37 | $16K |
Holdings After Transaction:
Phantom Stock Units — 461.58 shares (Direct)
Footnotes (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. 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: 461.5800 units
Reference share value for accrual: $34.3700 per unit
Underlying common stock shares: 461.5800 shares
+1 more
4 metrics
Phantom Stock Units granted
461.5800 units
Grant to director Nathaniel Ernest Tagg on July 31, 2026
Reference share value for accrual
$34.3700 per unit
Value used in calculating Phantom Stock Units under deferred compensation plan
Underlying common stock shares
461.5800 shares
Common stock underlying the granted Phantom Stock Units
Phantom Stock Units after transaction
461.5800 units
Director’s direct Phantom Stock Unit holdings following the award
Key Terms
Phantom Stock Units, Deferred Compensation and Stock Purchase Plan for Non Employee Directors, fair market value, accrual amount
4 terms
Phantom Stock Units financial
"The Phantom Stock Units were accrued for under the Independent"
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.
accrual amount financial
"The number of the units credited to a participant's account is determined by dividing the accrual amount"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did Nathaniel Ernest Tagg report for IBCP?
Nathaniel Ernest Tagg reported the grant of 461.5800 Phantom Stock Units on July 31, 2026. The units were awarded under a deferred compensation and stock purchase plan and will be settled in Independent Bank Corp common stock when he retires as a director.
What are Phantom Stock Units in the IBCP Form 4 for director Tagg?
The filing describes Phantom Stock Units that are credited to Tagg’s account and track the value of Independent Bank Corp common stock. They are not cash-settled now but will be paid out in common shares when he retires as a director.
When will Tagg’s Phantom Stock Units in IBCP be settled?
The Phantom Stock Units are to be settled in Independent Bank Corp common stock upon Tagg’s retirement as a director. Until retirement, the units remain as deferred phantom stock credits under the company’s non‑employee director plan.
Under what plan were the 461.5800 Phantom Stock Units granted at IBCP?
The 461.5800 Phantom Stock Units were accrued under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors. This plan credits phantom stock units instead of immediate cash or stock, to be settled later in common shares.
How are the number of Phantom Stock Units for IBCP director Tagg calculated?
The number of Phantom Stock Units is determined by dividing the accrual amount by 90% of the fair market value of Independent Bank Corp common stock on the effective date of the deferral, according to the plan footnote in the filing.
How many Phantom Stock Units does Tagg hold in IBCP after this transaction?
After this reported grant, Tagg directly holds 461.5800 Phantom Stock Units. Each unit represents a right to receive one share of Independent Bank Corp common stock when his service as a director ends, as described in the plan footnote.