Independent Bank (INDB) CEO receives stock grant, with shares withheld for tax

Rhea-AI Filing Summary

Independent Bank Corp. Chief Executive Officer Jeffrey J. Tengel reported routine equity compensation activity. He acquired 4,656 shares of Common Stock on a grant or award basis, tied to the vesting of a performance stock award from Independent Bank Corp. On the same date, 2,141 shares were transferred back to the company at $74.0025 per share to satisfy a tax withholding obligation, which is not an open-market sale. After these transactions, he directly owned 47,775.9303 Common Stock shares.

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

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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^*

Tengel Jeffrey J

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
03/12/2026

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	03/12/2026		A		4,656(1)	A	$0	49,916.9303	D
Common Stock	03/12/2026		F		2,141(2)	D	$74.0025	47,775.9303	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. Shares issued pursuant to vest of performance stock award granted to the Filer by Independent Bank Corp.

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 Jeffrey J. Tengel	03/16/2026
	** 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.
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FAQ

What did INDB CEO Jeffrey Tengel report in this Form 4?

Jeffrey J. Tengel reported receiving 4,656 INDB common shares from a vested performance stock award. He also had 2,141 shares returned to Independent Bank Corp. to cover tax withholding obligations related to this equity compensation.

How many INDB shares did the CEO of Independent Bank receive?

The CEO received 4,656 shares of Independent Bank Corp. common stock. These shares were issued upon vesting of a performance stock award previously granted to him as part of his compensation package, according to the Form 4 disclosure and related footnote.

Why were 2,141 INDB shares disposed of in this filing?

The 2,141 INDB shares were transferred back to Independent Bank Corp. to satisfy a tax withholding obligation. This tax-withholding disposition is coded as “F” and does not represent an open-market sale or discretionary share sale by the CEO.

What price per share was used for the tax withholding on INDB stock?

The tax withholding disposition used a price of $74.0025 per INDB share. This value applied to 2,141 shares returned to Independent Bank Corp. to cover the CEO’s tax obligations arising from the vesting of his performance stock award.

How many INDB shares does the CEO hold after these transactions?

Following the award and related tax withholding, the CEO directly holds 47,775.9303 INDB common shares. This post-transaction balance reflects the net effect of 4,656 shares granted and 2,141 shares returned to the company for tax withholding purposes.

Does this INDB Form 4 show any open-market buying or selling?

The Form 4 does not show any open-market buying or selling. It records a 4,656-share performance award vesting and a 2,141-share tax-withholding disposition back to Independent Bank Corp., both routine compensation-related events rather than discretionary market trades.