Archer Dennis W. Jr 4

What Happened Dennis W. Archer Jr., a director of Independent Bank Corp. (IBCP), was awarded 53.15 phantom stock units on 2026-05-14. The units were valued at $33.71 each, for a reported total of $1,792. This was an award (derivative) under the company’s non-employee director deferred compensation plan, not an open-market purchase or sale.

Key Details

• Transaction date: 2026-05-14; Filing date: 2026-07-02 (late filing — ~49 days after the transaction).
• Transaction type: Award/Grant (code A); derivative security (Phantom Stock Units).
• Price/value reported: $33.71 per unit; total reported value $1,792.
• Settlement: Phantom Stock Units are to be settled in the issuer’s common stock upon the reporting person’s retirement as a director (see footnote F1).
• Shares owned after transaction: Not disclosed in the filing.

Context Phantom stock units are a form of deferred compensation that will convert to actual shares when settled; they are not an immediate cash purchase or sale and therefore don’t directly signal near-term buying or selling by the director. The late filing delays public visibility of the award; otherwise the transaction is routine compensation for non-employee directors.