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Independent Bank (IBCP) EVP settles PSUs, retains 65,656 common shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Independent Bank Corp. Executive Vice President Stefanie M. Kimball reported routine equity compensation activity. On April 6, 2026, she exercised Performance Rights (PSUs), including a derivative exercise of 2,537 units and an exercise into 4,331 shares of common stock.

To cover tax obligations, 1,743 shares of common stock were withheld at $33.78 per share, a non–open-market disposition. After these transactions, she holds 65,656 common shares directly, plus 6,847.01 shares indirectly through an ESOP and 230 shares through an IRA.

Positive

  • None.

Negative

  • None.
Insider Kimball Stefanie M
Role Executive Vice President
Type Security Shares Price Value
Exercise Performance Right 2,537 $0.00 --
Exercise Common Stock 4,331 $0.00 --
Tax Withholding Common Stock 1,743 $33.78 $59K
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Performance Right — 0 shares (Direct); Common Stock — 67,399 shares (Direct); Common Stock — 6,847.01 shares (Indirect, By ESOP)
Footnotes (1)
  1. [object Object]
Performance Rights exercised 2,537 units Derivative exercise of Performance Rights (PSUs) on April 6, 2026
Common shares acquired via exercise 4,331 shares Exercise or conversion into Independent Bank common stock
Shares withheld for taxes 1,743 shares at $33.78 Tax-withholding disposition to cover obligations on April 6, 2026
Direct common stock holdings 65,656 shares Shares held directly by Kimball after reported transactions
Indirect ESOP holdings 6,847.01 shares Common stock held indirectly through ESOP after transactions
Indirect IRA holdings 230 shares Common stock held indirectly through an IRA
Performance Right financial
"Each Performance Right (PSU) represents a contingent right to receive not more than two (2) shares"
PSU financial
"Each Performance Right (PSU) represents a contingent right to receive not more than two (2) shares"
A PSU is a company where the government owns a controlling stake and often plays a direct role in its management and strategy. Think of it like a business that operates with public oversight, similar to a town-run utility versus a private neighborhood service. Investors watch PSUs differently because government involvement can affect profits, dividend policies, regulatory treatment and stability, so these stocks may behave more like policy instruments than pure market-driven enterprises.
total shareholder return financial
"based upon the total shareholder return of Issuer's Common Stock, relative to its peer group index"
Total shareholder return is the overall gain an investor gets from owning a stock, combining changes in the share price plus any cash payouts like dividends, and assuming those payouts are reinvested in more shares. Investors use it like a single score that shows the true return on their investment—similar to checking both the growth of a savings account and the interest earned—to compare how well different companies or investments perform over time.
ESOP financial
"Common Stock holding reported as indirect ownership, nature of ownership: By ESOP"
An Employee Stock Ownership Plan (ESOP) is a program that gives employees ownership shares in their company, often as part of their benefits package. It acts like a company-sponsored savings plan, allowing workers to have a stake in the company's success, which can boost motivation and loyalty. For investors, ESOPs can influence company decisions and stock value, making them an important aspect of corporate ownership and governance.
IRA financial
"Common Stock holding reported as indirect ownership, nature of ownership: By IRA"
An individual retirement account (IRA) is a savings account designed to help people put aside money for their retirement, often with tax advantages that encourage long-term savings. It matters to investors because it can grow over time, providing financial security later in life, and offers benefits that can reduce current taxes or allow investments to compound more effectively.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
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*
Kimball Stefanie M
(Last)(First)(Middle)
4200 E BELTLINE AVE
(Street)
GRAND RAPIDS MICHIGAN 49525
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
INDEPENDENT BANK CORP /MI/ [ IBCP ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Executive Vice President
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/06/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common Stock04/06/2026M4,331A(1)67,399D
Common Stock04/06/2026F1,743D$33.7865,656D
Common Stock6,847.01IBy ESOP
Common Stock230IBy IRA
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Performance Right(1)04/06/2026M2,537 (1)02/06/2026Common Stock(1)$00D
Explanation of Responses:
1. Each Performance Right (PSU) represents a contingent right to receive not more than two (2) shares of Issuer Common Stock, based upon the total shareholder return of Issuer's Common Stock, relative to its peer group index.
Remarks:
s/Darcy J. Benjamin, Attorney-in-Fact04/07/2026
** Signature of Reporting PersonDate
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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did IBCP executive Stefanie Kimball report?

Stefanie M. Kimball reported exercising performance-based equity awards and related common stock on April 6, 2026. She exercised 2,537 Performance Rights and 4,331 common shares, with a portion of the resulting stock withheld to satisfy tax obligations rather than sold in the market.

How many IBCP shares did Stefanie Kimball acquire and withhold for taxes?

Kimball’s filing shows the exercise of 4,331 shares of Independent Bank common stock tied to performance awards. Of these, 1,743 shares were used to pay tax liabilities at a value of $33.78 per share, a tax-withholding disposition rather than an open-market sale.

How many IBCP shares does Stefanie Kimball own after these transactions?

Following the April 6, 2026 transactions, Kimball directly owns 65,656 shares of Independent Bank common stock. She also has indirect holdings of 6,847.01 shares through an ESOP and 230 shares through an IRA, as disclosed in the Form 4 holding entries.

What are Performance Rights (PSUs) in the IBCP Form 4 filing?

The filing describes each Performance Right (PSU) as a contingent right to receive up to two shares of common stock. The final number of shares depends on Independent Bank’s total shareholder return compared with a defined peer group index, linking compensation to relative stock performance.

Did Stefanie Kimball sell IBCP shares on the open market in this Form 4?

The reported disposition involves 1,743 shares withheld at $33.78 per share to pay tax obligations. This is coded as an F transaction, meaning payment of exercise price or taxes by delivering securities, not an open-market sale to other investors on an exchange.