Harris Maria S 4

What Happened

• Maria S. Harris, Chief Human Resources Officer of Independent Bank Corp. (INDB), received a grant of 2,150 time-vesting restricted shares on 2026-02-19 (awarded at $0.00 per share). To satisfy tax withholding related to the award, 211 shares were transferred on 2026-02-20 and 148 shares on 2026-02-22 — both dispositions were to the company at $82.40 per share (total withheld = 359 shares, ~$29,581.60).

Key Details

• Transaction dates and prices:
  • 2026-02-19: Award (A) — 2,150 shares @ $0.00 (granted).
  • 2026-02-20: Tax withholding (F) — 211 shares @ $82.40 (disposed), $17,386.40.
  • 2026-02-22: Tax withholding (F) — 148 shares @ $82.40 (disposed), $12,195.20.
• Net from the award: 2,150 − 359 = 1,791 award shares retained immediately after withholding.
• Reported holdings note: Total holdings include 1,088.1045 shares held in the filer’s 401(k) account (per footnote).
• Footnotes: F1 = award of time-vesting restricted stock; F3 = shares transferred to Independent Bank to satisfy tax withholding; F2 = 401(k) holdings inclusion.
• Filing: Form 4 filed on 2026-02-23. The filing date is within the SEC’s two-business-day window for the listed transactions.

Context

• This was an equity award (restricted stock) with routine share withholding to cover tax obligations — not an open-market sale. Withholding to the employer to satisfy taxes is a common administrative step and does not necessarily signal insider sentiment.
• For retail investors, awarded restricted shares are compensation and typically vest over time; they differ from purchases or sales intended as investment bets.