Archer Dennis W. Jr 4
4 · INDEPENDENT BANK CORP /MI/ · Filed Apr 2, 2026
Research Summary
AI-generated summary of this filing
Independent Bank (IBCP) Director Dennis W. Archer Jr. Receives Award
What Happened
Dennis W. Archer Jr., a director of Independent Bank Corporation (IBCP), received an award of 49 phantom stock units on 2026-02-13. The units are valued at $36.28 each (total value ≈ $1,778) and were reported as a derivative award rather than an open-market purchase or sale.
Key Details
- Transaction date: 2026-02-13; Grant type: Award/Grant (code A)
- Price/value: $36.28 per unit; 49 units; total ≈ $1,778
- Instrument: Phantom Stock Units (derivative), not shares bought on the open market
- Shares owned after transaction: Not specified in the provided filing
- Footnote: Units were accrued under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non-Employee Directors and will be settled in common stock upon the reporting person's retirement as a director.
- Filing timeliness: Report filed 2026-04-02 — appears to be late relative to the usual 2-business-day Form 4 filing requirement.
Context
This was a compensation-style award (deferred phantom stock), which typically reflects director pay rather than an immediate market signal. Such units convert to actual shares only upon the director’s retirement per the plan, so they do not represent an immediate purchase of stock. The dollar amount is modest, and the filing does not disclose a change in current share ownership.
Insider Transaction Report
- Award
Phantom Stock Units
[F1]2026-02-13$36.28/sh+49$1,778→ 6,398.59 total→ Common Stock (49 underlying)
Footnotes (1)
- [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.