MICHAELS CHRISTOPHER S 4

What Happened

• Christopher S. Michaels, Executive Vice President of Independent Bank Corp (IBCP), had 439 shares withheld to satisfy tax withholding related to an equity award/option exercise. The withholding price was $36.60 per share, for a total value of approximately $16,067.
• This filing reports a disposition for tax withholding (not an open-market sale). Such withholdings are routine and are used to cover tax liability from vesting/exercise.

Key Details

• Transaction date: 2026-02-06; Filing date: 2026-02-09 (not indicated as late).
• Price used for withholding: $36.60 per share.
• Shares withheld/disposed: 439; Reported value: $16,067.
• Transaction code: F — payment of exercise price or tax liability via share withholding (cashless/tax-surrender).
• Shares owned after the transaction: not specified in the provided filing.

Context

• Code F typically means the insider exercised options or vested awards and surrendered a portion of shares to cover taxes or exercise costs. This is a routine administrative step and does not by itself signal a buy or sell decision in the open market.
• Purchases or open-market sales generally provide clearer sentiment signals than tax-withholding disposals.