Independent Bank (IBCP) Director Nathaniel Tagg Receives Phantom Stock Award

What Happened

Nathaniel Tagg, a director of Independent Bank Corporation (IBCP), was granted 461.58 phantom stock units (transaction code A) on 2026-07-31. The units were valued using a per-share equivalent of $34.37, for an aggregate accrual value of approximately $15,865. This is an award under a deferred compensation plan and is an acquisition of derivative units—not an open-market purchase of common shares.

Key Details

• Transaction date and price: 2026-07-31; equivalent price used $34.37 per share; total accrual ~$15,865.
• Shares/units acquired: 461.58 phantom stock units.
• Shares owned after transaction: Not specified on this Form 4.
• Footnote: Units are Phantom Stock Units under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non-Employee Directors and will be settled in the issuer’s common stock when the director retires. The number of units credited is determined by dividing the accrual amount by 90% of the fair market value of the common stock on the effective deferral date.
• Filing: Reported on Form 4 filed 2026-08-04 (filed within the standard Form 4 reporting window).

Context

This grant is a deferred compensation award (a derivative entitlement) rather than an immediate transfer of voting or saleable common shares. Such awards are common for non-employee directors and are typically settled in stock at a future date (here, upon retirement), so they do not directly indicate current buying or selling sentiment.