IBCP director granted phantom stock unit awards

Wooldridge Michael G. reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Wooldridge Michael G. reported acquisition or exercise transactions in this Form 4 filing.

Independent Bank Corp. director Michael G. Wooldridge reported compensation-related awards of phantom stock units tied to the company’s common stock. On July 1, 2026, he received 137 phantom stock units at a reference price of $32.46 per unit, bringing his credited balance to 425.46 units. A prior award on May 14, 2026 added 2.38 units at $33.71 per unit. The footnotes state these 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 he retires as a director.

Insider Trade Summary

Grant/Award: 139.38 shares

Grant/Award 2 txns

Insider Wooldridge Michael G.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	137	$32.46	$4K
Grant/Award	Phantom Stock Units	2.38	$33.71	$80.23

Holdings After Transaction: Phantom Stock Units — 425.46 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

July 1 phantom units granted: 137 phantom stock units May 14 phantom units granted: 2.38 phantom stock units Price per unit (July 1 grant): $32.46 per unit +3 more

6 metrics

July 1 phantom units granted 137 phantom stock units Grant on July 1, 2026 at $32.46 per unit

May 14 phantom units granted 2.38 phantom stock units Grant on May 14, 2026 at $33.71 per unit

Price per unit (July 1 grant) $32.46 per unit Reference price for 137 phantom stock units

Price per unit (May 14 grant) $33.71 per unit Reference price for 2.38 phantom stock units

Total phantom units after July 1 425.46 units Total phantom stock units credited following July 1, 2026 transaction

Total phantom units after May 14 288.46 units Total phantom stock units credited following May 14, 2026 transaction

Key Terms

Phantom Stock Units, Deferred Compensation and Stock Purchase Plan for Non Employee Directors, settled in the Issuer's Common Stock, fair market value, +1 more

5 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"

settled in the Issuer's Common Stock financial

"are to be settled in the Issuer's Common Stock upon the reporting person's retirement as a director"

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

"determined by dividing the accrual amount by 90% of the fair market value"

FAQ

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

What insider activity did Independent Bank Corp (IBCP) report for Michael G. Wooldridge?

Independent Bank Corp reported that director Michael G. Wooldridge received phantom stock unit awards as compensation. He acquired 137 units on July 1, 2026 and 2.38 units on May 14, 2026, both tied to the company’s common stock.

How many phantom stock units does Michael G. Wooldridge hold after the latest IBCP Form 4?

After the July 1, 2026 award, Michael G. Wooldridge holds 425.46 phantom stock units. This total reflects units accrued under the company’s deferred compensation plan for non-employee directors and is reported as his balance following the most recent transaction.

At what prices were the IBCP phantom stock units credited to Michael G. Wooldridge?

The July 1, 2026 grant credited 137 phantom stock units at $32.46 per unit. The May 14, 2026 grant credited 2.38 units at $33.71 per unit. These prices are used to determine the number of units under the plan’s formula.

What is a phantom stock unit in the context of Independent Bank Corp (IBCP)?

For IBCP, phantom stock units are bookkeeping units tied to common stock, accrued under a deferred compensation and stock purchase plan. The Form 4 notes they will be settled in the issuer’s common stock when the director retires from the board.

When will Michael G. Wooldridge’s IBCP phantom stock units be settled into common stock?

According to the Form 4 footnotes, the phantom stock units will be settled in Independent Bank Corp’s common stock upon Michael G. Wooldridge’s retirement as a director. Until then, the units remain as deferred compensation entries in his plan account.

What plan governs the phantom stock units reported for IBCP director Michael G. Wooldridge?

The phantom stock units are accrued under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors. The plan determines how units are credited and specifies that settlement occurs in common stock at the director’s retirement.

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

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Accepted by SEC EDGAR 07/02/2026 - 11:01 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^*

Wooldridge Michael G.

(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)
			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	2.38		(1)	(1)	Common Stock	2.38	$33.71	288.46	D
Phantom Stock Units	(2)	07/01/2026		A		137		(2)	(2)	Common Stock	137	$32.46	425.46	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)