Mark Ruggiero compensation by year
INDEPENDENT BANK Summary Compensation Table · all 7 fiscal years held| Component | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Salary | $260,329 | $311,539 | $365,621 | $436,279 | $542,360 | $567,898 | $612,958 |
| Bonus | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock awards | $62,903 | $112,376 | $162,867 | $245,616 | $370,967 | $326,895 | $430,156 |
| Option awards | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Non-equity incentive | $104,790 | $88,452 | $222,328 | $405,272 | $348,999 | $456,652 | $516,894 |
| Pension and deferred compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| All other | $24,395 | $57,748 | $62,463 | $87,206 | $125,147 | $124,999 | $145,133 |
| Total | $452,417 | $570,115 | $813,279 | $1,174,373 | $1,387,473 | $1,476,444 | $1,705,141 |
Each year as stated in that year's proxy. A dash means the company reported no figure in that column. Source: INDEPENDENT BANK CORP DEF 14A filed March 26, 2026, accession 0000776901-26-000079, and prior-year filings.
How this page was built: the INDEPENDENT BANK CORP filed document, accession 0000776901-26-000079. Every figure is read from that document and cited to the page and table it appears in. Filed March 26, 2026.
Equity holdings
unvested awards at FY2025 year-end| Type | Unvested units | Value at year-end | Exercise price |
|---|---|---|---|
| PSU | 5,000 | $365,400 | — |
| RSU | 5,000 | $365,400 | — |
| RSU | 3,750 | $274,050 | — |
| RSU | 2,467 | $180,288 | — |
| PSU | 1,706 | $126,248 | — |
| RSU | 1,706 | $126,248 | — |
| RSU | 916 | $66,941 | — |
| RSU | 700 | $51,156 | — |
| RSU | 190 | $13,885 | — |
Per the Outstanding Equity Awards at Fiscal Year-End table in INDEPENDENT BANK CORP's FY2025 proxy; value at the fiscal year-end close, as the company printed it.
Change-in-control & termination
estimated payments INDEPENDENT BANK discloses, by trigger · FY2025| Trigger | Cash severance | Accelerated equity | Benefits continuation | Total as disclosed |
|---|---|---|---|---|
| Involuntary for cause | $0 | $0 | $0 | $0 |
| Death | $0 | $837,497 | $0 | $837,497 |
| Involuntary termination without cause | $595,500 | $837,497 | $22,707 | $1,455,704 |
| Disability | $0 | $837,497 | $0 | $837,497 |
| Change in control and involuntary termination | $2,224,788 | $1,587,517 | $135,297 | $2,814,719 |
Per the Potential Payments Upon Termination or Change in Control table in INDEPENDENT BANK CORP's FY2025 proxy. Estimates as the company printed them; a dash means it printed no figure.
INDEPENDENT BANK’s named executive officers, FY2025
as the company reported each| Named executive officer | Role | FY2025 total |
|---|---|---|
| Jeffrey Tengel | CEO and President | $3,606,962 |
| Mark Ruggiero · this page | CFO and EVP of Consumer Lending | $1,705,141 |
| Lee Powlus | EVP and Chief Administrative Officer | $1,183,310 |
| Patricia Natale | EVP and General Counsel and Corporate Secretary | $1,132,534 |
| James Rizzo | EVP and Chief Commercial Banking Officer | $1,127,205 |
Mark Ruggiero's compensation dossier, INDEPENDENT BANK
You have read Mark Ruggiero's totals and holdings. The dossier adds each equity grant INDEPENDENT BANK disclosed for Mark Ruggiero and INDEPENDENT BANK's own disclosed peer group, where the company discloses them, with every row in a PDF and a CSV cited to its filing.
See an example →The full INDEPENDENT BANK compensation record
free company briefThis page is one person within INDEPENDENT BANK's record. The company brief lists every named executive, each linking to their own page.
Peer companies
named in the INDEPENDENT BANK proxy · each links to its own free briefCompensation, the day it’s disclosed
The CompBrief Daily Digest lists the newest executive and director compensation disclosures as companies file them. Or order INDEPENDENT BANK's full Executive Compensation Report with peer benchmarking.
How this record is built
Every figure on this page is one figure from a public SEC filing, printed as the filing states it and cited to the document. Compensation totals are INDEPENDENT BANK's own disclosed totals, not summed by Velarion. Insider transactions are read from Form 4 filings and cover every line filed since the most recent proxy. Nothing is estimated by Velarion; where the company does not disclose a value the cell reads "—", and a section appears only where the company discloses the data. Corrections: records@velarion.ai.