Matthew J. Missad - May 15, 2021 Form 4 Insider Report for INDEPENDENT BANK CORP /MI/ (IBCP)

Role
Director
Signature
s/Darcy J. Benjamin, Attorney-in-Fact
Stock symbol
IBCP
Transactions as of
May 15, 2021
Transactions value $
$11,683
Form type
4
Date filed
7/1/2021, 06:19 PM
Previous filing
May 7, 2021
Next filing
Jun 1, 2021

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction IBCP Phantom Stock Units Award $2.68K +114 +0.89% $23.54 12.9K May 15, 2021 Common Stock 114 Direct F1
transaction IBCP Phantom Stock Units Award $9K +461 +3.57% $19.54 13.3K Jul 1, 2021 Common Stock 461 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Phantom Stock Units were accrued for under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors and are to be settled in the Issuer's Common Stock upon the reporting person's retirement as a director.
F2 The Phantom Stock Units were accrued for under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors and are to be settled in the Issuer's Common Stock upon the reporting person's retirement as a director. The number of units credited to a participant's account is determined by dividing the accrual amount by 90% of the fair market value of the Issuer's Common Stock on the effective date of the deferral.