Form 4: First Citizens BancShares CEO Frank B. Holding Jr. Reports Changes in Beneficial Ownership

Frank B. Holding Jr., CEO of First Citizens BancShares, reported changes in his beneficial ownership of company stock, including transfers to family members.

Summary

• Frank B. Holding Jr., the Chairman and CEO of First Citizens BancShares, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• The transactions include the transfer of 16 Class A Common shares each to three family members, James Freeman Bailey, Jr., Royall Holding Bailey, and Jones Powell Bailey, as custodians.
• These shares were transferred as gifts, with a value of $0 per share.
• Mr. Holding also reported his direct and indirect ownership of Class A and Class B common stock, including shares held as a beneficiary of a trust, by his spouse, and as custodian for family members.
• Additionally, shares previously held as custodian for his adult son, Frank B. Holding III, were transferred to his son and are no longer reported as beneficially owned by Mr. Holding.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing, reflecting standard reporting of insider transactions. There is no indication of positive or negative sentiment.

Industry Context

This filing is a routine disclosure of changes in beneficial ownership by a company insider, which is a common practice in the financial industry. It provides transparency into the holdings of key personnel.

Comparison to Industry Standards

• Form 4 filings are standard practice for corporate insiders in the US, as mandated by the Securities and Exchange Commission (SEC).
• Similar filings are made by executives at other financial institutions such as Bank of America (BAC), JPMorgan Chase (JPM), and Wells Fargo (WFC) when they trade their company's stock.
• The reporting requirements are consistent across all publicly traded companies, ensuring a level playing field for investors.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership of company stock by its CEO.
• The transactions do not appear to have a direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

beneficial ownership, Form 4, stock transfer, First Citizens BancShares, FCNCA, insider trading, Frank B. Holding Jr., Class A Common, Class B Common