Form 4: Independent Bank Corp CEO Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Jeffrey J. Tengel, CEO of Independent Bank Corp, disposed of shares to satisfy a tax withholding obligation on February 22, 2025.
Summary
- On February 22, 2025, Jeffrey J. Tengel, the Chief Executive Officer of Independent Bank Corp, disposed of 872 shares of common stock.
- The transaction was executed to satisfy a tax withholding obligation.
- The shares were sold at a price of $69.135 per share.
- Following the transaction, Tengel directly owns 39,851.9124 shares of Independent Bank Corp.
- The transaction was reported on February 24, 2025.
Sentiment
Score: 5
Explanation: The document describes a routine transaction (selling shares to cover tax obligations), which is neither particularly positive nor negative.
Industry Context
Form 4 filings are a routine part of insider trading activity and are used to ensure transparency in the market. This transaction is a common occurrence where executives sell shares to cover tax obligations.
Stakeholder Impact
- The transaction has a minimal impact on stakeholders as it is a routine sale of shares to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 02/22/2025 | Date of transaction: CEO disposed of shares to cover tax obligations. |
| 02/24/2025 | Date of report filing. |
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