Cok Michael J 4

4 · INDEPENDENT BANK CORP /MI/ · Filed Apr 2, 2026

AI-generated summary of this filing

Updated Apr 2, 2026

Independent Bank (IBCP) Director Michael Cok Receives Phantom Stock Awards

What Happened

Michael J. Cok, a director of Independent Bank Corp (IBCP), was granted phantom stock units as deferred compensation on two dates: 211.57 units on 2026-02-13 (valued at $36.28 each, ~$7,676) and 395.6 units on 2026-04-01 (valued at $29.97 each, ~$11,856). These are awards (derivative phantom stock units), not open-market purchases or sales, and total roughly $19,532 in accruals.
These awards are accrued under the bank’s Deferred Compensation and Stock Purchase Plan for Non‑Employee Directors and are to be settled in IBCP common stock upon the reporting person’s retirement as a director.

Key Details

Transaction dates and values:
- 2026-02-13: 211.57 phantom units at $36.28 each — accrual ~$7,676 (code A — award)
- 2026-04-01: 395.6 phantom units at $29.97 each — accrual ~$11,856 (code A — award)
Type: Derivative awards (Phantom Stock Units) to be settled in common stock at director retirement.
Shares owned after transaction: Not specified in this Form 4 filing.
Footnotes: Units were credited under the Deferred Compensation and Stock Purchase Plan for Non‑Employee Directors and will be settled in common stock at retirement. The number of units credited is determined by dividing the accrual amount by 90% of the fair market value of IBCP common stock on the effective deferral date (per footnotes F1/F2).
Timeliness: Filing dated 2026-04-02 reports a primary transaction on 2026-02-13 (and another on 2026-04-01), so the Form 4 was filed late relative to the typical 2-business-day reporting requirement. Late filing delays public disclosure but does not change the nature of the awards.

Context

Phantom stock unit awards are a form of deferred compensation for non-employee directors and typically reflect routine board compensation; they do not represent an immediate open‑market purchase or sale.
Because these units settle to shares upon retirement and are calculated using a formula tied to stock price (90% FMV), they are administrative/compensation events rather than direct signals of trading intent.

Form 4

Period: 2026-02-13

Director

Transactions

Award
Phantom Stock Units
[F1]
2026-02-13$36.28/sh+211.57$7,676→ 27,624.38 total
→ Common Stock (211.57 underlying)
Award
Phantom Stock Units
[F2]
2026-04-01$29.97/sh+395.6$11,856→ 28,019.98 total
→ Common Stock (395.6 underlying)

Footnotes (2)

[F1]The Phantom Stock Units were accrued for under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors and are to be settled in the Issuer's Common Stock upon the reporting person's retirement as a director.
[F2]The Phantom Stock Units were accrued for under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors and are to be settled in the Issuer's Common Stock upon the reporting person's retirement as a director. The number of the units credited to a participant's account is determined by dividing the accrual amount by 90% of the fair market value of the Issuer's Common Stock on the effective date of the deferral.

Signature

s/Darcy J. Benjamin, Attorney-in-Fact|2026-04-02

1 file