IBCP director granted Phantom Stock Units

Independent Bank Corporation director Michael J. Cok reported awards of Phantom Stock Units under the company’s deferred compensation plan for non-employee directors.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Independent Bank Corporation director Michael J. Cok reported awards of Phantom Stock Units under the company’s deferred compensation plan for non-employee directors. On April 1, 2026, he acquired 395.6000 Phantom Stock Units, with an accrual amount based on $29.9700 per unit.

On February 13, 2026, he acquired an additional 211.5700 Phantom Stock Units at an accrual amount based on $36.2800 per unit. Following these awards, his balance in Phantom Stock Units is 28,019.9800 units, which are to be settled in Independent Bank Corporation common stock upon his retirement as a director.

Insider Trade Summary

Grant/Award: 607.17 shares

Grant/Award 2 txns

Insider Cok Michael J

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	395.6	$29.97	$12K
Grant/Award	Phantom Stock Units	211.57	$36.28	$8K

Holdings After Transaction: Phantom Stock Units — 28,019.98 contracts (Direct)

Footnotes (2)

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.
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

April 1, 2026 Phantom Stock Units granted: 395.6000 units February 13, 2026 Phantom Stock Units granted: 211.5700 units Total Phantom Stock Units after April 1, 2026: 28,019.9800 units +2 more

5 metrics

April 1, 2026 Phantom Stock Units granted 395.6000 units Grant/award acquisition at $29.9700 accrual value per unit

February 13, 2026 Phantom Stock Units granted 211.5700 units Grant/award acquisition at $36.2800 accrual value per unit

Total Phantom Stock Units after April 1, 2026 28,019.9800 units Balance of Phantom Stock Units following reported grants

Phantom Units underlying security Common Stock Each Phantom Stock Unit is linked to Independent Bank common stock

Conversion price $0.0000 Phantom Stock Units carry a stated conversion or exercise price of zero

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"

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 insider transactions did IBCP director Michael J. Cok report?

Director Michael J. Cok reported two compensation-related acquisitions of Phantom Stock Units under Independent Bank Corporation’s deferred compensation plan. He received 395.6000 units on April 1, 2026 and 211.5700 units on February 13, 2026, both recorded as grant or award acquisitions.

How many Phantom Stock Units does Michael J. Cok hold after these IBCP grants?

After the reported transactions, Michael J. Cok holds 28,019.9800 Phantom Stock Units. This total reflects the cumulative balance in his deferred compensation account following the April 1, 2026 and February 13, 2026 awards disclosed in the Form 4 filing.

At what values were the IBCP Phantom Stock Units accrued for Michael J. Cok?

The April 1, 2026 award of Phantom Stock Units was accrued using a value of $29.9700 per unit, while the February 13, 2026 award used $36.2800 per unit. The plan bases units on 90% of the common stock’s fair market value at the deferral date.

When will Michael J. Cok’s IBCP Phantom Stock Units be settled?

The Phantom Stock Units will be settled in Independent Bank Corporation common stock upon Michael J. Cok’s retirement as a director. This timing is specified by the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors.

How are Phantom Stock Units calculated under IBCP’s non-employee director plan?

Under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors, the number of Phantom Stock Units credited equals the accrual amount divided by 90% of the fair market value of Independent Bank Corporation common stock on the effective deferral date.

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Accepted by SEC EDGAR 04/02/2026 - 11:21 AM

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^*

Cok Michael J

(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)
02/13/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock Units	⁽¹⁾	02/13/2026		A	V	211.57		⁽¹⁾	⁽¹⁾	Common Stock	211.57	$36.28	27,624.38	D
Phantom Stock Units	⁽²⁾	04/01/2026		A		395.6		⁽²⁾	⁽²⁾	Common Stock	395.6	$29.97	28,019.98	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	04/02/2026
	** 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)

Source: View Original Filing on SEC EDGAR

IBCP director granted Phantom Stock Units

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