Independent Bank EVP exercises stock awards
Independent Bank Corp executive Joel F. Rahn exercised stock awards and had shares withheld for taxes.
Rhea-AI Filing Summary
Independent Bank Corp executive Joel F. Rahn exercised stock awards and had shares withheld for taxes. He converted 2,431 Performance Rights into 4,150 shares of common stock, then 1,270 shares were withheld to cover tax obligations at $33.78 per share. After these compensation-related transactions, he directly holds 29,526.5 common shares and indirectly holds 1,571.03 shares through an ESOP. Footnotes note that each Performance Right could deliver up to two shares based on total shareholder return and that 458.49 shares were previously acquired via a dividend reinvestment program.
Positive
- None.
Negative
- None.
Insider Trade Summary
2,431 shares exercised/converted
Exercise
4 txns
Insider
RAHN JOEL F
Role
Executive Vice President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Right | 2,431 | $0.00 | $0.00 |
| Exercise | Common Stock | 4,150 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common Stock | 1,270 | $33.78 | $43K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Performance Right — 0 contracts (Direct);
Common Stock — 29,526.5 shares (Direct);
Common Stock — 1,571.03 shares (Indirect, By ESOP)
Footnotes (2)
- F1. Each Performance Right (PSU) represents a contingent right to receive not more than two (2) shares of Issuer Common Stock, based upon the total shareholder return of Issuer's Common Stock, relative to its peer group index.
- F2. Includes 458.49 shares acquired through dividend reinvestment program (DRIP) during 2025.
Key Figures
Performance Rights exercised: 2,431 rights
Common shares acquired via exercise: 4,150 shares
Shares withheld for taxes: 1,270 shares
+3 more
6 metrics
Performance Rights exercised
2,431 rights
Converted into common stock on 2026-04-06
Common shares acquired via exercise
4,150 shares
Shares of Independent Bank Corp common stock received
Shares withheld for taxes
1,270 shares
Tax-withholding disposition at $33.78 per share
Direct holdings after transactions
29,526.5 shares
Common stock held directly following Form 4 activity
Indirect ESOP holdings
1,571.03 shares
Common stock held indirectly through ESOP
DRIP-acquired shares
458.49 shares
Shares gained via dividend reinvestment program during 2025
Key Terms
Performance Right, PSU, tax-withholding disposition, dividend reinvestment program (DRIP), +1 more
5 terms
Performance Right financial
"Each Performance Right (PSU) represents a contingent right to receive not more than two (2) shares of Issuer Common Stock"
PSU financial
"Each Performance Right (PSU) represents a contingent right to receive not more than two (2) shares"
A PSU is a company where the government owns a controlling stake and often plays a direct role in its management and strategy. Think of it like a business that operates with public oversight, similar to a town-run utility versus a private neighborhood service. Investors watch PSUs differently because government involvement can affect profits, dividend policies, regulatory treatment and stability, so these stocks may behave more like policy instruments than pure market-driven enterprises.
tax-withholding disposition financial
"Payment of exercise price or tax liability by delivering securities"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
dividend reinvestment program (DRIP) financial
"Includes 458.49 shares acquired through dividend reinvestment program (DRIP) during 2025."
ESOP financial
"total_shares_following_transaction: 1571.0300, nature_of_ownership: By ESOP"
An Employee Stock Ownership Plan (ESOP) is a program that gives employees ownership shares in their company, often as part of their benefits package. It acts like a company-sponsored savings plan, allowing workers to have a stake in the company's success, which can boost motivation and loyalty. For investors, ESOPs can influence company decisions and stock value, making them an important aspect of corporate ownership and governance.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transactions did IBCP executive Joel Rahn report on this Form 4?
Joel F. Rahn reported exercising 2,431 Performance Rights into 4,150 shares of Independent Bank Corp common stock. Of those, 1,270 shares were withheld to satisfy tax obligations at $33.78 per share, leaving him with 29,526.5 shares held directly afterward.
What are the Performance Rights mentioned in the IBCP Form 4 filing?
The Performance Rights are PSUs where each right could deliver up to two shares of IBCP common stock. The number of shares earned depends on the company’s total shareholder return relative to a peer group index, tying the award to multi-year performance outcomes.
What does the tax-withholding transaction mean in the IBCP insider filing?
The Form 4 shows 1,270 IBCP shares disposed of in a tax-withholding transaction at $33.78 per share. This indicates shares were withheld to cover tax liabilities triggered by the award exercise, rather than being sold voluntarily on the open market by the executive.
AI-generated analysis. How Rhea-AI works. Not financial advice.
