RAHN JOEL F 4

What Happened Joel F. Rahn, Executive Vice President of Independent Bank Corp (IBCP), was granted awards on 2026-02-03 consisting of 1,901 shares (acquired at $0.00) and 1,901 derivative performance rights (recorded at $0.00). The award package includes 882.90 shares acquired through the company's dividend reinvestment program (DRIP). The performance rights (PSUs) are contingent awards that may convert into common stock depending on future performance.

Key Details

• Transaction date: 2026-02-03; Form 4 filed: 2026-02-05 (timely filing).
• Award values reported at $0.00 (compensation grant, not a cash purchase).
• Awards: 1,901 shares (includes 882.90 from DRIP) + 1,901 Performance Rights (derivative).
• PSU conversion: Each Performance Right may convert into up to two (2) shares based on total shareholder return vs. peer group (so 1,901 PSUs could yield up to 3,802 shares at maximum payout, per footnote).
• Shares owned after the transaction: Not disclosed in the provided filing.
• Footnotes: F1 notes the DRIP inclusion; F2 describes PSU conversion mechanics.

Context This was a compensation-related grant (award), not an open-market purchase or sale. Awards and PSUs are common executive pay tools meant to align management with shareholder performance; they do not by themselves indicate immediate buying or selling intentions. The PSUs are performance-contingent—actual shares received will depend on future relative performance.