GULIS STEPHEN L JR 4
4 · INDEPENDENT BANK CORP /MI/ · Filed Jul 2, 2026
Research Summary
AI-generated summary of this filing
Independent Bank (IBCP) Director Stephen Gulis Receives Award
What Happened Stephen L. Gulis Jr., a director of Independent Bank Corporation (IBCP), was granted 528.24 phantom stock units on May 14, 2026. The units were recorded at $33.71 each for a total reported value of $17,807. The transaction is coded as an award/acquisition of a derivative interest (Phantom Stock Units), not an open-market purchase.
Key Details
- Transaction date: 2026-05-14; Price per share used for valuation: $33.71; Total value: $17,807.
- Shares/units granted: 528.24 Phantom Stock Units (derivative award, Form 4 code "A").
- Settlement: Units are to be settled in the issuer's common stock upon the reporting person's retirement as a director (footnote F1).
- Shares owned after transaction: Not specified in the provided filing summary.
- Filing timeliness: Form filed on 2026-07-02 for a 2026-05-14 transaction (filed late).
Context Phantom Stock Units are a form of deferred compensation for non-employee directors and do not represent immediate share ownership until settlement (here, at the director’s retirement). Such awards compensate service rather than indicate a near-term buy or sell decision in the market.
Insider Transaction Report
- Award
Phantom Stock Units
[F1]2026-05-14$33.71/sh+528.24$17,807→ 64,118.66 total→ Common Stock (528.24 underlying)
Footnotes (1)
- [F1]The Phantom Stock Units were accrued for under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors and are to be settled in the Issuer's Common Stock upon the reporting person's retirement as a director.