GAFFNEY MAUREEN A. 4
4 · INDEPENDENT BANK CORP · Filed Feb 23, 2026
Research Summary
AI-generated summary of this filing
Independent Bank (INDB) Maureen A. Gaffney Receives Restricted Stock Award
What Happened
Maureen A. Gaffney, Principal Accounting Officer of Independent Bank Corp. (INDB), was awarded 1,350 time‑vesting restricted shares on 2026-02-19 (grant at $0.00). To satisfy tax withholding related to the award, she surrendered 135 shares on 2026-02-20 and 108 shares on 2026-02-22 at $82.40 per share (proceeds used to cover withholding, not an open‑market sale), totaling $20,023. After the withholding, Gaffney retained a net 1,107 shares from this award.
Key Details
- Award: 1,350 Time Vesting Restricted Stock granted on 2026-02-19 @ $0.00 (F1).
- Tax withholding dispositions: 135 shares on 2026-02-20 @ $82.40 = $11,124; 108 shares on 2026-02-22 @ $82.40 = $8,899 (total withheld $20,023) (F2).
- Net retained from award: 1,107 shares (1,350 granted − 243 withheld).
- Filing: Form 4 filed 2026-02-23 reporting transactions through 2026-02-22 (filed on time).
- Footnotes: F1 = award of time‑vesting restricted stock; F2 = disposition to Independent Bank to satisfy tax withholding.
Context
This was an equity award with routine share surrender to cover taxes (a form of cashless withholding), not an open‑market sale. Such withholdings are administrative and do not necessarily signal insider sentiment about the company’s stock.
Insider Transaction Report
- Award
Common Stock
[F1]2026-02-19+1,350→ 7,486 total - Tax Payment
Common Stock
[F2]2026-02-20$82.40/sh−135$11,124→ 7,351 total - Tax Payment
Common Stock
[F2]2026-02-22$82.40/sh−108$8,899→ 7,243 total
Footnotes (2)
- [F1]Independent Bank Corp. awarded Time Vesting Restricted Stock to the Filer.
- [F2]Disposition of shares by the Filer to Independent Bank Corp. to satisfy a tax withholding obligation.