January 1, 2024 · Form 4 insider transaction
Cok Michael J bought 346.96 shares of Independent Bank Corporation at $23.42 per share, a transaction worth $8.1K. The trade was recorded as grant or award and disclosed on an SEC Form 4, filed 1 day after the transaction.
The Phantom Stock Units were accrued for under the Independent Bank Corporation Deferred Compensation and Stock Purchase Plan for Non Employee Directors and are to be settled in the Issuer's Common Stock upon the reporting person's retirement as a director. The number of the units credited to a participant's account is determined by dividing the accrual amount by 90% of the fair market value of the Issuer's Common Stock on the effective date of the deferral.