RIZZO JAMES T. 4

What Happened
James T. Rizzo, Chief Commercial Banking Officer of Independent Bank Corp. (INDB), was awarded 2,300 time‑vesting restricted shares on 2026-02-19 (code A). To satisfy tax withholding related to the award, 224 shares were transferred back on 2026-02-20 for $82.40/share ($18,457) and 153 shares on 2026-02-22 for $82.40/share ($12,607) (code F). Net shares retained from this award: 1,923 (2,300 awarded minus 377 withheld). The award was granted at $0.00 acquisition price.

Key Details

• Transaction dates and amounts:
  • 2026-02-19: Awarded 2,300 restricted shares (acquisition price $0.00). (F1)
  • 2026-02-20: 224 shares withheld to satisfy tax liability at $82.40/share = $18,457. (F2)
  • 2026-02-22: 153 shares withheld to satisfy tax liability at $82.40/share = $12,607. (F2)
• Total shares withheld for taxes: 377; total value withheld ≈ $31,064.
• Net shares retained from this grant: 1,923 shares.
• Footnotes: F1 = time‑vesting restricted stock award. F2 = shares transferred to the company to satisfy tax withholding.
• Filing: Form 4 filed 2026-02-23 reporting a period of 2026-02-19; filing appears timely based on transaction dates.

Context
This was an equity award (not an open‑market purchase or sale). The withheld-share transfers are routine tax‑withholding actions tied to the grant, not open‑market sales. Awards and tax withholding are common compensation events and do not necessarily signal insider buying or selling intent.