Form 4: First Bancorp CFO Disposes of Shares for Tax Obligations
Insider Transaction Report
Elizabeth B. Bostian, Chief Financial Officer of First Bancorp, reported the disposition of 894 shares of restricted stock to cover tax liabilities at a price of $40.57 per share.
Summary
- Elizabeth B. Bostian, the Chief Financial Officer of First Bancorp /NC/ (FBNC), filed a Form 4 detailing a recent stock transaction.
- On June 20, 2025, with a deemed execution date of June 23, 2025, Ms. Bostian disposed of 894 shares of restricted stock.
- The shares were disposed of at a price of $40.57 per share.
- This transaction, identified by transaction code 'F', indicates that the shares were used to pay taxes.
- Following this disposition, Ms. Bostian directly beneficially owns 13,535.38 shares of First Bancorp common stock.
Sentiment
Score: 5
Explanation: The filing reports a routine disposition of shares for tax purposes, which is a standard event for executives receiving equity compensation and does not indicate positive or negative sentiment regarding the company's performance or outlook.
Future Outlook
This Form 4 filing is a report of an insider transaction and does not contain any forward-looking statements or guidance regarding the company's future outlook.
Management Comments
- The explanation provided for the transaction was 'Shares Used to Pay Taxes'.
Industry Context
This filing reports a routine insider transaction, specifically the disposition of shares to cover tax obligations related to restricted stock. Such transactions are common for executives receiving equity compensation and typically do not reflect broader industry trends or specific company performance issues.
Stakeholder Impact
- Shareholders: This is a routine transaction and is unlikely to have a significant direct impact on shareholders, as it represents a standard tax-related disposition of shares by an executive.
Key Dates
| Date | Description |
|---|---|
| 06/20/2025 | Transaction Date for the disposition of restricted stock. |
| 06/23/2025 | Deemed Execution Date for the disposition of restricted stock. |
| 06/25/2025 | Date the Form 4 was signed by the reporting person's attorney-in-fact. |
Keywords
SEC Form 4, Insider Transaction, Stock Sale, Restricted Stock, Tax Withholding, First Bancorp, FBNC, Elizabeth B. Bostian, Chief Financial Officer
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