Form 4: Director Cok Michael J Acquires Phantom Stock Units in Independent Bank Corp

Director Michael J Cok reports acquisition of phantom stock units in Independent Bank Corp through a deferred compensation plan.

Summary

• On August 15, 2024, Director Michael J Cok acquired 174.49 phantom stock units at $33.01 each under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan.
• On October 1, 2024, Director Michael J Cok acquired 326.5 phantom stock units at $30.02 each under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan.
• These units are to be settled in Independent Bank Corporation's common stock upon Cok's retirement as a director.
• Following these transactions, Cok directly owns 24,500.79 phantom stock units.

Sentiment

Score: 7

Explanation: The document reflects a neutral sentiment as it reports routine transactions related to director compensation. There are no indications of significant positive or negative events.

Industry Context

This filing is a routine disclosure of a director's acquisition of phantom stock units, a common form of executive compensation in the banking industry.

Stakeholder Impact

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders, as the value of the units is tied to the company's stock performance.

Key Dates