Independent bank corp /MI/ (IBCP): director Tagg Nathaniel Ernest received 653.66 shares

What happened

• Tagg Nathaniel Ernest, a director, received phantom stock units recorded as 3.36 shares at $38.49 per share on Aug 14, 2026 for $129, and 650.3 shares at $31.72 per share on Oct 1, 2026 for $20,628. Total credited: 653.66 shares. Transactions reported on a Form 4 filed Oct 2, 2026.

Key details

• Transaction dates and prices: Aug 14, 2026 at $38.49; Oct 1, 2026 at $31.72. Both are coded as A (award/grant; derivative).
• Shares owned after the transaction: not reported in the filing.
• Footnotes: F1/F2 state the phantom stock units were accrued 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. The number of units credited is determined by dividing the accrual amount by 90% of the fair market value of the issuer's common stock on the effective date of the deferral.
• Form filed Oct 2, 2026 covering transactions on Aug 14, 2026 and Oct 1, 2026.

Why it may matter

• These were awards of phantom stock units (derivative awards) to be settled in common stock upon the director's retirement, not open-market purchases or sales.
• A filing does not show why the insider traded or why the company acted.