Kimball Stefanie M 4

What Happened

• Stefanie M. Kimball, Executive Vice President of Independent Bank Corp. (IBCP), converted performance-based derivative awards into common stock on 2026-04-06. The filing shows 4,331 shares were issued on conversion (transaction code M). To cover taxes, 1,743 of those shares were withheld at $33.78 per share, totaling $58,879 (transaction code F). The filing also lists a 2,537-share derivative conversion/disposition reported at $0.

Key Details

• Transaction date: 2026-04-06; Form 4 filed 2026-04-07 (filed promptly).
• Conversion: 4,331 shares reported as acquired via exercise/conversion (M).
• Tax withholding: 1,743 shares withheld at $33.78 each, total $58,879 (F).
• Additional line: 2,537 shares shown as disposed at $0 in connection with a derivative transaction (M); the form does not detail the reason for the $0 disposition.
• Footnote: Each Performance Right (PSU) may convert to as many as two shares of common stock depending on total shareholder return versus peers.
• Shares owned after the transactions: not specified in the provided excerpt.

Context

• These filings reflect conversion of performance-based awards (PSUs) rather than an open-market purchase or sale. The withholding of shares to satisfy tax obligations is a routine administrative step (a net settlement/tax withholding) and not the same as an open-market sale. The presence of a $0 disposition line suggests a net or internal settlement element tied to the award conversion; the filing itself does not explain that line in detail.