Tengel Jeffrey J 4
4 · INDEPENDENT BANK CORP · Filed Mar 16, 2026
Research Summary
AI-generated summary of this filing
Independent Bank (INDB) CEO Jeffrey Tengel Receives Award, Sells Shares
What Happened
Jeffrey J. Tengel, CEO of Independent Bank Corp (INDB), had 4,656 performance shares vest on 2026-03-12 (issued at $0.00). To satisfy tax withholding on the vesting, 2,141 of those shares were transferred back to the company at $74.00 per share for proceeds of $158,439. Net from the transaction Tengel received 2,515 shares (4,656 vested less 2,141 withheld).
Key Details
- Transaction date(s): 2026-03-12; Form 4 filed 2026-03-16 (reporting period 2026-03-12).
- Award/acquisition: 4,656 shares issued at $0.00 (performance stock vesting).
- Disposition/tax withholding: 2,141 shares transferred at $74.00 each = $158,439.
- Net change from these transactions: +2,515 shares.
- Shares owned after transaction: not specified in the provided filing excerpt.
- Footnotes: F1 = shares issued pursuant to vesting of a performance stock award; F2 = shares disposed to the company to satisfy tax withholding.
Context
This was a routine vesting of performance-based equity with a portion withheld to cover taxes (a common practice). The sale here was not an open-market sale for investment reasons but a tax-withholding disposition tied to the award vesting. Such award vestings increase insider ownership (after withholding), but do not by themselves indicate a change in the CEO’s market outlook.
Insider Transaction Report
- Award
Common Stock
[F1]2026-03-12+4,656→ 49,916.93 total - Tax Payment
Common Stock
[F2]2026-03-12$74.00/sh−2,141$158,439→ 47,775.93 total
Footnotes (2)
- [F1]Shares issued pursuant to vest of performance stock award granted to the Filer by Independent Bank Corp.
- [F2]Disposition of shares by the Filer to Independent Bank Corp. to satisfy a tax withholding obligation.