TWAROZYNSKI JAMES J 4

What Happened
James J. Twarozynski, Senior Vice President of Independent Bank Corp (IBCP), had 383 shares disposed/withheld to satisfy tax liabilities related to an option exercise. The shares were valued at $36.60 each for a total of approximately $14,018. This is a tax-withholding disposal (routine administrative step), not an open-market sale indicating a directional trade.

Key Details

• Transaction date: 2026-02-06; Filing date: 2026-02-09 (filed within SEC timing requirements)
• Price per share: $36.60; Shares withheld/disposed: 383; Total value: ~$14,018
• Transaction code: F (payment of exercise price or tax liability — shares withheld to cover taxes)
• Shares owned after transaction: Not specified in the provided filing excerpt
• No 10b5-1 plan or other footnotes were indicated in the details supplied

Context
This type of transaction typically reflects tax withholding after an option exercise or vesting event (often a cashless or share-surrender arrangement) and is generally routine. It does not necessarily signal that the insider is reducing their long-term stake through a voluntary sale. Retail investors should treat tax-withholding disposals differently from deliberate open-market sales when assessing insider sentiment.