Tengel Jeffrey J 4

What Happened
Jeffrey J. Tengel, CEO of Independent Bank Corp. (INDB), had 664 shares disposed/withheld to cover a tax liability on Feb 6, 2026. The shares were valued at $86.11 each, totaling approximately $57,177. This was a tax-withholding disposition (not an open-market sale or a purchase).

Key Details

• Transaction date: 2026-02-06; filing date: 2026-02-10 (filed within the typical 2 business-day window).
• Price per share: $86.11; total value of shares withheld: ~$57,177.
• Shares disposed/withheld: 664.
• Shares owned after the transaction: Not specified in the provided filing.
• Footnote: Holdings include 83.0179 shares acquired via the company’s 2014 Dividend Reinvestment and Stock Purchase Plan since the last Form 4 (2/24/2025); those DRIP purchases are exempt from Section 16 reporting (F1).
• Transaction code F indicates payment of exercise price or tax liability (withholding of shares to satisfy tax obligations).

Context: This is a routine tax-withholding event (often following option exercises or awards) where shares are surrendered to cover taxes. Such withholdings are administrative and do not necessarily indicate the insider’s view of the company’s stock.