Independent Bank director sells 5,307 shares
Independent Bank Corp director Gerard F. Nadeau reported selling 5,307 shares of common stock on 2026-08-03 at a weighted average price of $84.6942 per share, with individual trades between $84.60 and $84.805.
Rhea-AI Filing Summary
Independent Bank Corp director Gerard F. Nadeau reported selling 5,307 shares of common stock on 2026-08-03 at a weighted average price of $84.6942 per share, with individual trades between $84.60 and $84.805. After the sale, he holds 16,907 shares directly, plus indirect holdings of 273.8589 shares for his daughter and 276.2729 shares for his son, which include small additions of 2.1437 and 2.1626 shares through the company’s 2014 Dividend Reinvestment and Stock Purchase Plan since 05/21/26. The Rule 10b5-1 checkbox is not marked for this transaction.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 5,307 shares
Net Sell
3 txns
Insider
Nadeau Gerard F
Role
Director
Sold
5,307 shs ($449K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock F1 | 5,307 | $84.6942 | $449K |
| holding | Common Stock F2 | -- | -- | -- |
| holding | Common Stock F3 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 16,907 shares (Direct);
Common Stock — 273.8589 shares (Indirect, by Daughter);
Common Stock — 276.2729 shares (Indirect, by Son)
Footnotes (3)
- F1. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $84.60 through $84.805 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. Shares held in Filer's name f/b/o daughter. Holdings include 2.1437 shares received pursuant to the Independent Bank Corp. 2014 Dividend Reinvestment and Stock Purchase Plan since the last Form 4 filing (05/21/26). 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 2.1626 shares received pursuant to the Independent Bank Corp. 2014 Dividend Reinvestment and Stock Purchase Plan since the last Form 4 filing (05/21/26). 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
Shares sold: 5,307 shares
Weighted average sale price: $84.6942 per share
Sale price range: $84.60–$84.805 per share
+5 more
8 metrics
Shares sold
5,307 shares
Non-derivative common stock sale on 2026-08-03
Weighted average sale price
$84.6942 per share
Sale of 5,307 shares of Independent Bank Corp common stock
Sale price range
$84.60–$84.805 per share
Multiple transactions underlying the reported weighted average price
Direct holdings after sale
16,907 shares
Common stock directly owned by Gerard F. Nadeau after the transaction
Indirect holdings – daughter
273.8589 shares
Held in filer’s name for benefit of daughter, including DRIP additions
Indirect holdings – son
276.2729 shares
Held in filer’s name for benefit of son, including DRIP additions
Dividend reinvestment additions (daughter)
2.1437 shares
Shares received via 2014 Dividend Reinvestment and Stock Purchase Plan since 05/21/26
Dividend reinvestment additions (son)
2.1626 shares
Shares received via 2014 Dividend Reinvestment and Stock Purchase Plan since 05/21/26
Key Terms
weighted average price, Dividend Reinvestment and Stock Purchase Plan, Section 16 of the Securities Exchange Act of 1934, beneficial owner, +1 more
5 terms
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.
Dividend Reinvestment and Stock Purchase Plan financial
"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.
Section 16 of the Securities Exchange Act of 1934 regulatory
"Such transactions are exempt from the reporting requirements of Section 16 of the Securities Exchange Act of 1934"
A provision of federal securities law that requires company insiders—directors, officers and large shareholders—to publicly report their stock holdings and trades and to surrender any “short-swing” profits from purchases and sales within a six-month window. It acts like a rule that forces leaders to announce their trades and prevents quick buy-sell windfalls, giving investors transparency into insider activity and reducing opportunities for unfair gain.
beneficial owner regulatory
"should not be construed as an admission that the Filer is, for purposes of Section 16, the beneficial owner"
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.
Rule 10b5-1 regulatory
"The filing’s Rule 10b5-1 checkbox is not marked for this transaction"
Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Gerard F. Nadeau report for INDB?
Gerard F. Nadeau reported selling 5,307 shares of Independent Bank Corp common stock on 2026-08-03 at a weighted average price of $84.6942 per share. The sales occurred in multiple trades priced between $84.60 and $84.805 per share.
Was Gerard F. Nadeau’s INDB sale made under a Rule 10b5-1 trading plan?
The Form 4 indicates the Rule 10b5-1 checkbox is not checked, so the transaction is not affirmed as made under a pre-arranged 10b5-1 trading plan. No footnote describes it as being executed pursuant to such a plan.
How are the indirect INDB holdings for Gerard F. Nadeau’s family characterized?
The filing reports indirect holdings of 273.8589 shares for a daughter and 276.2729 shares for a son, held in Nadeau’s name for their benefit. Footnotes state the filing should not be construed as an admission of beneficial owner status for Section 16 purposes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
