Mohr Gavin A. 4

What Happened
Gavin A. Mohr, Executive Vice President of Independent Bank Corp (IBCP), converted performance-based awards into 4,297 shares on 2026-04-06. To satisfy tax obligations, 1,717 of those shares were withheld (reported at $33.78 per share, totaling $58,000). An additional 2,517 shares were reported as disposed at $0 in the filing as part of the conversion/settlement. Net from this transaction, Mohr retained 63 shares (4,297 issued less 1,717 withheld and 2,517 disposed).

Key Details

• Transaction date: 2026-04-06; Form 4 filed 2026-04-07 (filed one day after the transactions).
• Conversion/exercise entries: 4,297 shares acquired (derivative exercise/conversion).
• Withholding for taxes: 1,717 shares disposed at $33.78/share = $58,000.
• Other disposition: 2,517 shares disposed at $0 (reported as derivative disposition); purpose beyond being part of the conversion/settlement not further specified in the filing.
• Footnote: Each Performance Right (PSU) may convert into up to two shares of common stock based on total shareholder return vs. a peer group index.
• Shares owned after the transaction: not specified in the provided filing information.

Context

• This was a compensation-related conversion of performance rights (PSUs) rather than an open-market buy or sell. Withholding or surrender of shares to cover taxes and settlement is common in these transactions and does not necessarily signal a change in insider sentiment.
• The filing was submitted promptly (next day), so there is no indication of a late report.