Form 4: First Bancorp EVP Sells Shares for Tax Obligations

First Bancorp EVP Peter C. Nicholson reported a planned disposition of 367 common shares to cover tax liabilities.

Summary

• Peter C. Nicholson, Executive Vice President and Chief Fiduciary Officer of First Bancorp, Inc. (FNLC), filed a Form 4 reporting a transaction.
• The transaction involves the disposition of 367 shares of First Bancorp common stock.
• The shares were disposed of at a price of $27.1 per share.
• The transaction is coded as 'F', indicating it was for the payment of tax liability by delivering or withholding securities.
• Following this planned transaction, Nicholson will directly own 4,294 shares of common stock.
• He also indirectly holds 51.0622 shares through an Employee Stock Purchase Plan and 1,950.908 shares through a 401(k) Plan.
• The reported transaction date is January 27, 2026, and the filing indicates it was made pursuant to a Rule 10b5-1 plan.

Sentiment

Score: 5

Explanation: The transaction is a routine disposition of shares by an executive to cover tax liabilities, which is a common and expected event and does not reflect a change in sentiment towards the company's prospects.

Stakeholder Impact

• Shareholders: A minor reduction in insider ownership, but the transaction is tax-related and not a discretionary sale, so the impact is minimal.

Key Dates

Recommendation

The reported transaction is a routine disposition of a small number of shares by an executive to satisfy tax obligations. This is a common occurrence and does not indicate a change in the company's fundamentals or the executive's confidence. Therefore, it does not provide a basis to alter an existing investment recommendation.

Keywords

First Bancorp, FNLC, Peter C. Nicholson, Insider Transaction, Form 4, Stock Disposition, Tax Liability, Executive Compensation