Matthew J. Missad - Nov 14, 2022 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
Nov 14, 2022
Transactions value $
$12,619
Form type
4
Date filed
1/4/2023, 08:58 AM
Previous filing
Nov 2, 2022
Next filing
Dec 1, 2022

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 $3.62K +147 +0.89% $24.62 16.6K Nov 14, 2022 Common Stock 147 Direct F1
transaction IBCP Phantom Stock Units Award $9K +418 +2.52% $21.53 17K Jan 1, 2023 Common Stock 418 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 the 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.