Edgar Filing: INDEPENDENT BANK CORP

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

FUERSCHBACH RAYMOND G

2. Issuer Name and Ticker or Trading Symbol
INDEPENDENT BANK CORP [INDB]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Senior Vice President

(Last)

(First)

(Middle)

288 UNION STREET

3. Date of Earliest Transaction (Month/Day/Year)
01/24/2008

(Street)

ROCKLAND, MA 02370

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/24/2008		M		5,900	A	$ 17.25	15,650	D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Incentive Stock Option (right to buy)

$ 17.25

01/24/2008

5,900

06/12/1999⁽¹⁾

12/22/2008

Common Stock

5,900

$ 0

Incentive Stock Option (right to buy)

$ 11.9063

⁽²⁾

12/20/2010

Common Stock

7,125

Incentive Stock Option (right to buy)

$ 12.4063

⁽³⁾

12/22/2009

Common Stock

7,450

Incentive Stock Option (right to buy)

$ 20.125

⁽⁴⁾

12/19/2011

Common Stock

7,233

Incentive Stock Option (right to buy)

$ 23.47

⁽⁵⁾

12/19/2012

Common Stock

5,390

Incentive Stock Option (right to buy)

$ 30.14

⁽⁶⁾

12/11/2013

Common Stock

3,370

Non-Qualified Stock Option (right to buy)

$ 20.125

⁽⁴⁾

12/19/2011

Common Stock

567

Non-Qualified Stock Option (right to buy)

$ 23.47

⁽⁵⁾

12/19/2012

Common Stock

2,210

Non-Qualified Stock Option (right to buy)

$ 28.895

12/15/2005⁽⁷⁾

12/14/2012

Common Stock

7,500

Non-Qualified Stock Option (right to buy)

$ 30.14

⁽⁶⁾

12/11/2013

Common Stock

2,705

Non-Qualified Stock Option (right to buy)

$ 32.995

02/15/2008⁽⁸⁾

02/15/2017

Common Stock

5,000

Non-Qualified Stock Option (right to buy) ⁽⁹⁾

$ 34.18

12/15/2005

12/09/2014

Common Stock

7,500

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
FUERSCHBACH RAYMOND G 288 UNION STREET ROCKLAND, MA 02370			Senior Vice President

Signatures

By: Linda M. Campion, Power of Attorney For: Raymond G. Fuerschbach		01/25/2008
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Granted under the Independent Bank Corp. 1997 Employee Stock Option Plan (1997 Plan). 1,967 shares pursuant to the Option shall first become exercisable on 6/24/99, 1,967 shares shall first become exercisable on 1/2/00, and the remaining 1,966 shares shall first become exercisable on 1/2/01. The Option will expire on 12/22/08 subject to the earlier termination provisions noted above.
(2)	Granted under the 1997 Plan. 2,375 shares shall first become exercisable on 6/22/01, 2,375 shares shall first become exercisable on l/2/02, and the remaining 2,375 shares shall first become exercisable on l/2/03. The Option will expire on 12/20/10, subject to the earlier termination provisions noted above.
(3)	Granted under the 1997 Plan. 2,484 shares shall first become exercisable on 6/24/00, 2,484 shares shall first become exercisable on 1/2/01, and the remaining 2,482 shares shall first become exercisable on 1/2/02. The Option will expire on 12/22/09 subject to the earlier termination provisions noted above.
(4)	Granted under the Plan. 2,600 shares shall first become exercisable on 6/21/02, 2,600 shares shall first become exercisable on 1/2/03 and the remaining 2,600 shares shall first become exercisable on 1/2/04. The Option will expire on 12/19/11, subject to the earlier termination provisions noted above.
(5)	Granted under the 1997 Plan. 2,534 shares shall first become exercisable on 06/20/03, 2,533 shares shall first become exercisable on 1/2/04, and the remaining 2,533 shares shall first become exercisable on 1/2/05 subject to the earlier termination provisions noted above.
(6)	Granted under the Independent Bank Corp. 1997 Employee Stock Option Plan (1997 Plan). 2,025 shares shall first become exercisable on 06/11/04, 2,025 shares shall first become exercisable on 01/02/05, and the remaining 2,025 shall first become exercisable on 01/02/06. The Option will expire on 12/11/13 subject to the earlier termination of employment or acceleration of vesting schedule under certain termination of employee circumstances.
(7)	Non-Qualified Stock Options granted under the Independent Bank Corp. 2005 Employee Stock Plan (2005 Plan). The Options granted on 12/15/05 vest immediately and will expire on December 14, 2012, unless earlier terminated in accordance with Stock Option Agreement.
(8)	The options will vest in equal installments of 1,000 shares over a five-year term beginning on 2/15/2008 and thereafter on each successive anniversary date (2/15/2009 - 2/15/2012).
(9)	3,640 Options formerly reported as ISO's under the 12/9/04 grant have converted to NQO's due to an acceleration of vesting for all options granted that date. All options granted on 12/9/04 have now immediately fully vested a/o 12/15/05.

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