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Quotes & Info
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| IBCP > SEC Filings for IBCP > Form 8-K on 31-Jan-2013 | All Recent SEC Filings |
31-Jan-2013
Change in Directors or Principal Officers
On January 25, 2013, the Board of Directors (the "Board") of Independent Bank Corporation (the "Company") authorized a $30,000 increase in the annual base salary of William (Brad) Kessel, effective as of January 1, 2013, in connection with Mr. Kessel's appointment as Chief Executive Officer of the Company. Of that amount, $5,000 will be paid in the form of shares of the Company's common stock. On the same date and effective as of January 1, 2013, the Board approved a 2% annual increase in the base salaries of the Company's other Named Executive Officers, except for Mr. Michael Magee, who transitioned from CEO to Executive Chairman as of January 1, 2013.
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