INDEPENDENT BANK (INDB) officer gets 2,350-share award, uses stock for taxes

Rhea-AI Filing Summary

Independent Bank Corp Chief Administrative Officer Lee C. Powlus reported equity compensation activity in the form of restricted stock and related tax withholding. On February 19, 2026, he acquired 2,350 shares of Common Stock at $0.00 per share as a grant or award of time-vesting restricted stock. On February 20, 2026, 238 shares of Common Stock were disposed of at $82.3975 per share, and on February 22, 2026, 168 shares were disposed of at the same price, both identified as tax-withholding dispositions to Independent Bank Corp. to satisfy tax obligations, rather than open-market sales. Following these transactions, Powlus directly owned 6,790 shares of Common Stock.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Powlus Lee C

Role Chief Administrative Officer

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	168	$82.3975	$14K
Tax Withholding	Common Stock	238	$82.3975	$20K
Grant/Award	Common Stock	2,350	$0.00	--

Holdings After Transaction: Common Stock — 6,790 shares (Direct)

Footnotes (1)

1. Independent Bank Corp. awarded Time Vesting Restricted Stock to the Filer. Disposition of shares by the Filer to Independent Bank Corp. to satisfy a tax withholding obligation.

Form 4 Insider Transactions: What Each Field Means →

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^*

Powlus Lee C

(Last) (First) (Middle)

C/O INDEPENDENT BANK CORP.

288 UNION STREET

(Street)

ROCKLAND MA 02370

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
INDEPENDENT BANK CORP [ INDB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Administrative Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/19/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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
Common Stock	02/19/2026		A		2,350(1)	A	$0	7,196	D
Common Stock	02/20/2026		F		238(2)	D	$82.3975	6,958	D
Common Stock	02/22/2026		F		168(2)	D	$82.3975	6,790	D

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

Explanation of Responses:

1. Independent Bank Corp. awarded Time Vesting Restricted Stock to the Filer.

2. Disposition of shares by the Filer to Independent Bank Corp. to satisfy a tax withholding obligation.

Remarks:

	/s/ Maureen A. Gaffney, Power of Attorney for Lee C. Powlus	02/23/2026
	** 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.

FAQ

What insider transactions did INDEPENDENT BANK CORP (INDB) report for Lee C. Powlus?

The filing shows Lee C. Powlus received a 2,350-share restricted stock award, then disposed of 238 and 168 shares, respectively, to cover tax withholding obligations. These are compensation-related, not open-market purchase or sale transactions.

Was the INDB insider activity a stock sale or a tax withholding event?

The disposition transactions were tax-withholding events, not open-market sales. Shares were delivered back to Independent Bank Corp. to satisfy tax obligations arising from the restricted stock award granted to Chief Administrative Officer Lee C. Powlus.

How many INDB shares did Lee C. Powlus acquire through the latest award?

Lee C. Powlus acquired 2,350 shares of INDEPENDENT BANK CORP Common Stock at $0.00 per share via a grant of time-vesting restricted stock, representing equity-based compensation rather than a cash purchase in the open market.

How many INDB shares does Lee C. Powlus hold after these Form 4 transactions?

After the reported award and related tax-withholding dispositions, Lee C. Powlus directly holds 6,790 shares of INDEPENDENT BANK CORP Common Stock. This reflects his updated direct ownership reported in the Form 4 filing following the February 2026 transactions.

On which dates did the INDB insider tax-withholding dispositions occur?

The Form 4 shows tax-withholding dispositions on February 20, 2026 for 238 shares and on February 22, 2026 for 168 shares. Both transactions used shares to satisfy tax obligations tied to the restricted stock award.