Form 4: First Bancorp Officer Disposes Shares for Tax Withholding

First Bancorp's EVP and Chief Administrative Officer, Marcia Lynn Benner, reported a disposition of 52 common shares for tax withholding purposes.

Summary

• Marcia Lynn Benner, Executive Vice President and Chief Administrative Officer of First Bancorp, Inc. (FNLC), reported a transaction on January 27, 2026.
• The transaction involved the disposition of 52 shares of Common Stock at a price of $27.1 per share.
• This disposition was coded as 'F', indicating it was to satisfy tax withholding obligations.
• The transaction was made pursuant to a Rule 10b5-1(c) pre-planned contract, instruction, or written plan.
• Following this transaction, Marcia Lynn Benner directly owns 1,463 shares of Common Stock.
• Additionally, Benner indirectly owns 253.09 shares through an Employee Stock Purchase Plan.

Sentiment

Score: 5

Explanation: The filing reports a routine, pre-planned disposition of shares for tax withholding, which is a neutral event and does not indicate significant positive or negative sentiment regarding the company's performance or outlook.

Positives

• The transaction was executed under a Rule 10b5-1(c) plan, indicating a pre-planned and routine event rather than a discretionary sale based on new information.

Negatives

• A slight reduction in direct insider ownership, though for tax purposes and not a discretionary sale.

Future Outlook

This filing does not contain any forward-looking statements or guidance.

Industry Context

This is a routine insider transaction common across all industries, particularly when executives receive equity compensation that vests and triggers tax obligations. It does not reflect specific industry trends for the banking sector.

Comparison to Industry Standards

• The disposition of shares to cover tax withholding obligations is a standard practice for executives receiving equity compensation across publicly traded companies, including those in the financial services sector. This type of transaction is not indicative of a change in company fundamentals or a lack of confidence, unlike open market sales.

Stakeholder Impact

• Shareholders: Minimal impact as this is a routine, non-discretionary transaction for tax purposes and does not signal a change in management's confidence or company fundamentals.
• Employees: No direct impact.

Key Dates

Keywords

First Bancorp, FNLC, SEC Form 4, Insider Transaction, Stock Disposition, Tax Withholding, Marcia Lynn Benner, Executive Vice President, Chief Administrative Officer