Stodolak Michael Joseph 4

What Happened

• Michael J. Stodolak, Executive Vice President of Independent Bank Corp (IBCP), received a grant of 1,532 performance-based awards on 2026-02-03. The awards were granted at $0.00 (no cash paid) and recorded as both an award and a derivative grant. The awards are performance rights (PSUs) that can convert into common stock depending on performance.

Key Details

• Transaction date: 2026-02-03; filing date: 2026-02-05 (timely filing).
• Grant details: 1,532 Performance Rights (recorded twice: award and derivative) at $0.00 (no purchase price).
• Potential shares: Each Performance Right can convert into up to 2 shares based on total shareholder return vs. peers — maximum potential common shares = up to 3,064 if all rights fully vest.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnote: F1 — each PSU is contingent and vests based on the issuer’s total shareholder return relative to its peer group.

Context

• These are compensation awards, not open‑market purchases or sales. They carry vesting/performance conditions and therefore do not immediately increase Stodolak’s liquid holdings unless and until they vest/convert. Such grants are common for aligning executive pay with company performance and should be interpreted as contingent compensation, not a direct buy or sell signal.