Ruggiero Mark J 4

What Happened
Mark J. Ruggiero, Chief Financial Officer and EVP Consumer Lending of Independent Bank Corp. (INDB), was awarded 3,300 time‑vesting restricted shares on 2026-02-19 (code A). To satisfy the related tax withholding, he disposed of 337 shares on 2026-02-20 and 332 shares on 2026-02-22 at $82.40 per share, generating proceeds of $27,768 and $27,356 respectively (total ~$55,124). The award itself had an acquisition price reported as $0.00.

Key Details

• Transaction dates and prices:
  • 2026-02-19: Award of 3,300 time‑vesting restricted shares (A) at $0.00.
  • 2026-02-20: Disposition of 337 shares @ $82.40 for $27,768 (tax withholding, code F).
  • 2026-02-22: Disposition of 332 shares @ $82.40 for $27,356 (tax withholding, code F).
• Net shares remaining from this award after tax withholding: 3,300 − 669 = 2,631 restricted shares (this reflects only this grant, not total holdings disclosed elsewhere).
• Footnotes: F1 — award described as Time Vesting Restricted Stock. F2 — dispositions were to Independent Bank Corp. to satisfy a tax withholding obligation.
• Filing: Report filed with accession 0000776901-26-000050 on 2026-02-23 (no late‑filing flag noted in the filing).

Context
This was primarily an equity award (acquisition) followed by routine share dispositions to cover tax withholding — a common, administrative action that doesn't necessarily signal a change in insider sentiment. The sales were not open‑market trades but transfers back to the company to satisfy tax obligations (code F).