INDB director sells 2,832 shares at $77.31
Independent Bank Corp. director Joseph C. Lerner reported an open-market sale of 2,832 shares of common stock on May 18, 2026 at a weighted average price of $77.3138 per share.
Rhea-AI Filing Summary
Independent Bank Corp. director Joseph C. Lerner reported an open-market sale of 2,832 shares of common stock on May 18, 2026 at a weighted average price of $77.3138 per share. The shares were sold in multiple trades between $77.27 and $77.37 per share.
After this transaction, Lerner directly holds 16,215 shares of Independent Bank Corp. common stock and indirectly holds 4,950 shares through a Family Limited Partnership. The filing also notes that a prior Form 4 had overreported Lerner’s total ownership by 2,832 shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 2,832 shares
Net Sell
2 txns
Insider
LERNER JOSEPH C
Role
Director
Sold
2,832 shs ($219K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 2,832 | $77.3138 | $219K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 16,215 shares (Direct);
Common Stock — 4,950 shares (Indirect, Family Limited Partnership)
Footnotes (2)
- F1. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $77.27 through $77.37 per share, inclusive. The Filer undertakes to provide Independent Bank Corp., any security holder of Independent Bank Corp., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote (1) to this Form 4.
- F2. The Form 4 filed on May 21, 2026 inadvertently overreported the total ownership of the Filer by 2,832 shares.
Key Figures
Shares sold: 2,832 shares
Weighted average sale price: $77.3138 per share
Sale price range: $77.27–$77.37 per share
+3 more
6 metrics
Shares sold
2,832 shares
Open-market sale on May 18, 2026
Weighted average sale price
$77.3138 per share
Common Stock sale on May 18, 2026
Sale price range
$77.27–$77.37 per share
Multiple trades within the reported transaction
Direct holdings after sale
16,215 shares
Common Stock directly owned post-transaction
Indirect holdings after sale
4,950 shares
Held through a Family Limited Partnership
Prior overreported amount
2,832 shares
Shares by which a previous Form 4 overreported ownership
Key Terms
Form 4, weighted average price, Family Limited Partnership, open-market sale, +1 more
5 terms
Form 4 regulatory
"The Form 4 filed on May 21, 2026 inadvertently overreported the total ownership"
Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
Family Limited Partnership financial
"nature_of_ownership": "Family Limited Partnership""
open-market sale financial
"transaction_action": "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
indirect ownership financial
"ownership_type": "indirect""
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did INDB director Joseph C. Lerner report?
Joseph C. Lerner reported selling 2,832 shares of Independent Bank Corp. common stock. The sale occurred on May 18, 2026 at a weighted average price of $77.3138 per share in multiple trades within a narrow price range.
Did the Form 4 mention any errors in prior INDB ownership reports?
Yes. The filing states that a previous Form 4 filed on May 21, 2026 had overreported Joseph C. Lerner’s total ownership by 2,832 shares. This new Form 4 clarifies the correct post-transaction share totals.
How is Joseph C. Lerner’s indirect ownership in INDB structured?
The Form 4 shows 4,950 shares of Independent Bank Corp. common stock held indirectly by Joseph C. Lerner. These shares are owned through a Family Limited Partnership, distinguishing them from his directly held share position.
What does weighted average price mean in Joseph C. Lerner’s INDB sale?
Weighted average price reflects the average price across multiple trades in the same transaction. For Lerner’s sale, the weighted average was $77.3138 per share, with individual sale prices ranging between $77.27 and $77.37 per share.
AI-generated analysis. How Rhea-AI works. Not financial advice.
