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 679 shares of common stock to satisfy a tax withholding obligation on February 16, 2025.
Summary
- On February 16, 2025, Jeffrey J. Tengel, the Chief Executive Officer of Independent Bank Corp., disposed of 679 shares of common stock.
- The transaction was executed to satisfy a tax withholding obligation.
- The shares were disposed of at a price of $69.0925 per share.
- Following the transaction, Tengel directly owns 31,173.9124 shares of Independent Bank Corp.
- The transaction was reported on February 19, 2025.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a routine transaction. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This transaction appears to be a standard sale to cover tax obligations, which is a common practice among executives.
Stakeholder Impact
- The transaction is unlikely to have a significant impact on stakeholders as it is a routine sale to cover tax obligations.
Key Dates
| Date | Description |
|---|---|
| 02/16/2025 | Date of transaction: CEO disposed of shares to cover tax obligations. |
| 02/19/2025 | Date of report filing. |
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