Independent Bank Corp (INDB) director receives 842-share stock award
Rhea-AI Filing Summary
Independent Bank Corp director Gerard F. Nadeau received an award of 842 shares of common stock as restricted stock under the company’s 2018 Non-Employee Director Stock Plan. The shares vested immediately on the grant date, bringing his directly held stake to 22,214 shares.
The filing also updates indirect holdings held in his name for family members, showing 274.1103 shares for his son and 271.7152 shares for his daughter, which include small amounts acquired through the company’s 2014 Dividend Reinvestment and Stock Purchase Plan. The footnotes state these dividend reinvestment transactions are exempt from Section 16 reporting and clarify that this should not be taken as an admission of beneficial ownership of those family accounts.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 842 shares
Net Buy
3 txns
Insider
Nadeau Gerard F
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 842 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 22,214 shares (Direct);
Common Stock — 271.7152 shares (Indirect, by Daughter);
Common Stock — 274.1103 shares (Indirect, by Son)
Footnotes (3)
- F1. Independent Bank Corp. awarded restricted stock to the Filer per the Independent Bank Corp. 2018 Non-Employee Director Stock Plan in a transaction exempt pursuant to Rule 16b-3(d). Shares immediately vested on the date of grant.
- F2. Shares held in Filer's name f/b/o daughter. Holdings include 2.1821 shares received pursuant to the Independent Bank Corp. 2014 Dividend Reinvestment and Stock Purchase Plan since the last Form 4 filing (03/16/2026). Such transactions are exempt from the reporting requirements of Section 16 of the Securities and Exchange Act of 1934, as amended. The filing of this statement should not be construed as an admission that the Filer is, for purposes of Section 16 of the Exchange Act, the beneficial owner of such securities.
- F3. Shares held in Filer's name f/b/o son. Holdings include 2.2013 shares received pursuant to the Independent Bank Corp. 2014 Dividend Reinvestment and Stock Purchase Plan since the last Form 4 filing (03/16/2026). Such transactions are exempt from the reporting requirements of Section 16 of the Securities Exchange Act of 1934, as amended. The filing of this statement should not be construed as an admission that the Filer is, for purposes of Section 16 of the Exchange Act, the beneficial owner of such securities.
Key Figures
Restricted stock award: 842 shares
Direct holdings after award: 22,214 shares
Son’s indirect holdings: 274.1103 shares
+3 more
6 metrics
Restricted stock award
842 shares
Common Stock grant under 2018 Non-Employee Director Stock Plan
Direct holdings after award
22,214 shares
Common Stock held directly by Gerard F. Nadeau after grant
Son’s indirect holdings
274.1103 shares
Common Stock held in filer’s name for son
Daughter’s indirect holdings
271.7152 shares
Common Stock held in filer’s name for daughter
Son DRIP accrual
2.2013 shares
Shares received via 2014 Dividend Reinvestment and Stock Purchase Plan
Daughter DRIP accrual
2.1821 shares
Shares received via 2014 Dividend Reinvestment and Stock Purchase Plan
Key Terms
restricted stock, Independent Bank Corp. 2018 Non-Employee Director Stock Plan, Dividend Reinvestment and Stock Purchase Plan, Rule 16b-3(d), +1 more
5 terms
restricted stock financial
"Independent Bank Corp awarded restricted stock to the Filer per the Independent Bank Corp. 2018 Non-Employee Director Stock Plan"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
Independent Bank Corp. 2018 Non-Employee Director Stock Plan financial
"Independent Bank Corp awarded restricted stock to the Filer per the Independent Bank Corp. 2018 Non-Employee Director Stock Plan"
Dividend Reinvestment and Stock Purchase Plan financial
"Holdings include 2.1821 shares received pursuant to the Independent Bank Corp. 2014 Dividend Reinvestment and Stock Purchase Plan"
A dividend reinvestment and stock purchase plan lets investors automatically use cash dividends to buy additional shares and often make extra share purchases directly from the company, usually at low or no commission. Think of it as an automatic savings plan for stock: dividends and optional contributions are turned into more shares, helping ownership grow through compounding and making regular investing simple and low-cost—key for long-term investors.
Rule 16b-3(d) regulatory
"in a transaction exempt pursuant to Rule 16b-3(d). Shares immediately vested on the date of grant"
Rule 16b-3(d) is a narrow SEC safe-harbor that shields company insiders (officers, directors and large shareholders) from liability for short‑swing profits when their buys or sells of company stock are made under a pre-established, written plan or contract that removes the insider’s ability to time trades. For investors, this matters because it permits predictable, automated insider transactions — like scheduled sales for diversification or payroll withholding — without triggering forced disgorgement, so such planned trades are treated differently from opportunistic insider trading.
Section 16 regulatory
"Such transactions are exempt from the reporting requirements of Section 16 of the Securities and Exchange Act of 1934"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
Does Gerard F. Nadeau admit beneficial ownership of his family’s INDB accounts in this filing?
No. The footnotes state the filing should not be construed as an admission that Gerard F. Nadeau is the beneficial owner of the family accounts. The shares are held in his name for his son and daughter, with this disclaimer included in the disclosure.