SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
SEKSAY EDWARD H
(Last) (First) (Middle)
288 UNION STREET
(Street)
ROCKLAND MA 02370
(City) (State) (Zip)
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)
General Counsel
3. Date of Earliest Transaction (Month/Day/Year)
02/15/2007
4. If Amendment, Date of 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
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 02/15/2007 J 27.97 A $0 1,111.433(1) D
Common Stock 2,260.236 I 401(K) Plan
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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option (right to buy) $32.995 02/15/2007 A 5,000 02/15/2008(2) 02/15/2017 Common Stock 5,000 $0 5,000 D
Incentive Stock Option (right to buy) $23.47 (3) 12/19/2012 Common Stock 4,617 4,617 D
Incentive Stock Option (right to buy) $30.14 (4) 12/11/2013 Common Stock 3,478 3,478 D
Non-Qualified Stock Option (right to buy) $23.47 (3) 12/19/2012 Common Stock 4,108 4,108 D
Non-Qualified Stock Option (right to buy) $28.895 (5) 12/14/2012 Common Stock 7,500 7,500 D
Non-Qualified Stock Option (right to buy) $30.14 (4) 12/11/2013 Common Stock 3,797 3,797 D
Non-Qualified Stock Option (right to buy)(6) $34.18 12/15/2005 12/09/2014 Common Stock 7,500 7,500 D
Explanation of Responses:
1. Total holdings include 27.9696 shares acquired through the Company's Dividend Reinvestment Plan since the last Form 4 filing (12/05). Such transactions are exempt from the reporting requirements of Section 16 of the Securities Exchange Act of 1934.
2. 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).
3. Granted under the 1997 Plan. 2,909 shares shall first become exercisable on 06/20/03, 2,908 shares shall first become exercisable on 1/2/04, and the remaining 2,908 shares shall first become exercisable on 1/2/05 subject to the earlier termination provisions noted above.
4. Granted under the Independent Bank Corp. 1997 Employee Stock Option Plan (1997 Plan). 2,425 shares shall first become exercisable on 06/11/04, 2,425 shares shall first become exercisable on 01/02/05, and the remaining 2,425 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.
5. 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.
6. 3,287 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.
By: Linda M. Campion, Power of Attorney For: Edward H. Seksay 02/20/2007
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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