Ruggiero Mark J 4

What Happened
Mark J. Ruggiero, Chief Financial Officer and EVP Consumer Lending of Independent Bank Corp (INDB), had 1,706 performance stock award shares vest on March 12, 2026 (award acquisition, code A). To satisfy tax-withholding obligations, 460 of those shares were surrendered to the company at $74.00 per share, resulting in $34,041 withheld (disposition, code F).

Key Details

• Transaction dates: March 12, 2026 (award vesting and withholding disposition). Form 4 filed March 16, 2026 (within the standard two-business-day filing window).
• Award: 1,706 shares issued upon vesting (acquired at $0.00 as compensation).
• Tax withholding: 460 shares disposed to Independent Bank at $74.00 per share for $34,041 to satisfy tax obligations (sell-to-cover / surrender).
• Shares owned after transaction: Not specified in this Form 4 excerpt.
• Footnotes: F1 = shares issued upon vesting of a performance stock award; F2 = shares surrendered to company to satisfy tax withholding.
• Transaction codes: A = award/grant; F = tax withholding/disposition to company.

Context
This was a compensation-related vesting (not an open-market purchase or a voluntary sale). The surrender of shares to cover taxes is a routine administrative action and does not necessarily indicate the insider’s view of the company’s prospects.