Nadeau Gerard F, President of Independent Bank Corp. (INDB), has demonstrated a consistent pattern of selling activity over the past two years, with no recorded purchases in SEC filings. Since February 2024, Nadeau has executed 25 transactions exclusively involving INDB shares, all of which were sales or related dispositions, totaling approximately $900,689 in aggregate value. The most significant disposals occurred in 2025, including a $231,000 sale on August 12 and a $148,226 transaction on December 3, followed by a $210,000 sale on November 21. Smaller but repeated sales, often in the $5,000–$27,000 range, appeared throughout early 2025 and 2024, suggesting a methodical reduction in holdings.
Recent activity continues this trend, with a $26,640 sale on March 12, 2026, marking the latest in a series of disposals. The filings show no acquisitions offsetting these sales, indicating a clear directional bias toward divestment. While some transactions, such as those coded "F" (representing tax withholdings or similar mandatory dispositions), involve smaller amounts, the larger discretionary sales ("S") dominate the overall value. Nadeau’s trading history reflects a prolonged exit from INDB positions, though the filings do not specify whether these sales represent full divestment or ongoing portfolio rebalancing. The absence of buying activity distinguishes this pattern from more mixed insider trading behaviors observed in other executives.
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