INDEPENDENT BANK (INDB) Chief Credit Officer Receives Restricted Stock Award

What Happened
Kathryn O'Malley, Chief Credit Officer of Independent Bank Corp. (INDB), was awarded 2,050 time-vesting restricted shares on 2026-02-19 (grant price reported as $0.00). To satisfy tax-withholding obligations, she transferred 143 shares on 2026-02-20 (reported value $11,783) and 148 shares on 2026-02-22 (reported value $12,195), a total of 291 shares surrendered (~$23,978). Net of the withholding, the award added 1,759 shares to her holdings.

Key Details

• Award: 2,050 Time-Vesting Restricted Stock shares (2026-02-19) — grant price $0.00 (code A).
• Tax withholding: 143 shares disposed on 2026-02-20 at $82.40 ($11,783) and 148 shares disposed on 2026-02-22 at $82.40 ($12,195) (code F).
• Net retained from award: 1,759 shares (2,050 granted − 291 surrendered for taxes).
• Reported holdings note: total holdings reported include 397.8208 shares held in the filer’s 401(k) account (footnote).
• Footnotes: F1 = Time Vesting Restricted Stock awarded; F3 = shares transferred back to the company to satisfy tax withholding. The filing (dated 2026-02-23) reports transactions occurring Feb 19–22; no late-filing flag is indicated in the provided data.

Context
This was a restricted stock grant (an award), not an open-market purchase or a voluntary sale. The subsequent transfers were routine share-withholdings to cover tax liability (a common, non-market sale method). Such awards increase insider ownership (after withholding) but do not necessarily signal a market view by themselves.