Form 4: Independent Bank Corp Executive Acquires Performance Rights

Larry R. Daniel Jr., Executive Vice President of Independent Bank Corp, reports acquisition of performance rights and disposal of common stock.

Summary

• On February 4, 2025, Larry R. Daniel Jr., an Executive Vice President at Independent Bank Corp, acquired 1,711 performance rights.
• Each performance right represents a contingent right to receive up to two shares of Independent Bank Corp common stock based on total shareholder return relative to a peer group index.
• Daniel also disposed of 21,769.46 shares of common stock.
• Following the transaction, Daniel beneficially owns 3,204.32 shares indirectly through an ESOP.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing changes in beneficial ownership, with no inherent positive or negative sentiment.

Future Outlook

The performance rights are contingent on the future total shareholder return of Independent Bank Corp's common stock relative to its peer group index.

Industry Context

This filing reflects standard executive compensation practices within publicly traded companies, where performance-based equity awards are used to align management's interests with those of shareholders.

Stakeholder Impact

• The acquisition of performance rights aligns the executive's interests with those of shareholders, incentivizing improved company performance.

Key Dates

Keywords

Form 4, Beneficial Ownership, Performance Rights, Executive Vice President, Independent Bank Corp, IBCP, Daniel Larry R Jr, ESOP, Common Stock