Form 4: Independent Bank Corp Director Acquires Phantom Stock Units

Director Dennis W. Archer Jr. acquired phantom stock units in Independent Bank Corp through a deferred compensation plan.

Summary

• On May 13, 2024, Dennis W. Archer Jr., a director of Independent Bank Corp, acquired phantom stock units under the company's Deferred Compensation and Stock Purchase Plan for Non-Employee Directors.
• The transaction involved the accrual of 55.69 phantom stock units at a price of $25.91 per unit.
• Following the transaction, Archer directly owns 6,067.41 phantom stock units.
• These units will be settled in Independent Bank Corp's common stock upon Archer's retirement as a director.

Sentiment

Score: 7

Explanation: The document reports a routine transaction related to director compensation, which is generally neutral to slightly positive as it aligns director interests with the company's long-term performance.

Future Outlook

The phantom stock units will be settled in Independent Bank Corp's common stock upon the reporting person's retirement as a director.

Industry Context

This filing reflects standard executive compensation practices within publicly traded companies, utilizing deferred compensation plans to align director interests with long-term shareholder value.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning the director's interests with the long-term performance of the company.

Key Dates