Independent Bank director receives 842-share stock grant
O'DAY SUSAN PERRY reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
O'DAY SUSAN PERRY reported acquisition or exercise transactions in this Form 4 filing.
INDEPENDENT BANK CORP director Susan Perry O'Day received a grant of 842 shares of Common Stock as restricted stock under the Independent Bank Corp. 2018 Non-Employee Director Stock Plan. The shares were awarded at no cash cost and vested immediately on the grant date.
After this award, O'Day directly holds 6,513 common shares. The Form 4 also lists 100,000 shares held by a corporation where she is a board member and 95 shares held by an immediate family member, with explicit disclaimers that these indirect holdings are not admitted as beneficially owned for Section 16 purposes.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 842 shares
Grant/Award
3 txns
Insider
O'DAY SUSAN PERRY
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 — 6,513 shares (Direct);
Common Stock — 95 shares (Indirect, by Immediate Family Member);
Common Stock — 100,000 shares (Indirect, by Corporation)
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 by family member that resides with Filer. The filing of this statement should not be construed as an admission that the Filer is, for purposes of Section 16 of the Securities and Exchange Act of 1934, as amended, the beneficial owner of such securities.
- F3. Shares held in the name of corporation of which Filer is a Board member. The filing of this statement should not be construed as an admission that the Filer is, for purposes of Section 16 of the Securities and Exchange Act of 1934, as amended, the beneficial owner of such securities.
Key Figures
Restricted stock grant: 842 shares
Direct holdings after award: 6,513 shares
Indirect corporate holdings: 100,000 shares
+1 more
4 metrics
Restricted stock grant
842 shares
Common Stock award under 2018 Non-Employee Director Stock Plan
Direct holdings after award
6,513 shares
Common Stock directly owned following the Form 4 transaction
Indirect corporate holdings
100,000 shares
Held by a corporation where the filer is a board member
Indirect family holdings
95 shares
Held by an immediate family member residing with the filer
Key Terms
restricted stock, 2018 Non-Employee Director Stock Plan, Rule 16b-3(d), beneficial owner, +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.
2018 Non-Employee Director Stock Plan financial
"awarded restricted stock to the Filer per the Independent Bank Corp. 2018 Non-Employee Director Stock Plan"
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.
beneficial owner regulatory
"should not be construed as an admission that the Filer is, for purposes of Section 16 ... the beneficial owner of such securities."
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
Section 16 regulatory
"for purposes of Section 16 of the Securities and Exchange Act of 1934, as amended, the beneficial owner of such securities."
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did INDB director Susan Perry O'Day report on this Form 4?
Susan Perry O'Day reported receiving 842 shares of Independent Bank Corp. common stock as a restricted stock award. The shares were granted under the 2018 Non-Employee Director Stock Plan and vested immediately, increasing her directly held position to 6,513 shares after the award.
What indirect INDB holdings are associated with Susan Perry O'Day?
The Form 4 lists 100,000 shares held by a corporation where O'Day serves as a board member and 95 shares held by an immediate family member. The filing specifies these positions and clearly states she does not admit beneficial ownership of those indirectly held securities for Section 16 purposes.
Was Susan Perry O'Day's INDB stock award an open-market purchase?
No, the 842 shares were not an open-market purchase. They were a restricted stock award granted under Independent Bank Corp.’s 2018 Non-Employee Director Stock Plan, recorded with transaction code “A” for a grant or award, and carried a reported price per share of $0.0000.
AI-generated analysis. How Rhea-AI works. Not financial advice.
