Form 4: First Citizens BancShares CEO Frank Holding Jr. Reports Stock Transactions
SEC Form 4
Frank B. Holding Jr., Chairman and CEO of First Citizens BancShares, reports multiple transactions involving Class A and Class B common stock, including purchases and contributions to grantor retained annuity trusts (GRATs).
Summary
- Frank B. Holding Jr., Chairman and CEO of First Citizens BancShares, filed a Form 4 detailing changes in beneficial ownership.
- On March 10, 2025, Holding purchased multiple blocks of Class B Common stock at prices ranging from $1,480 to $1,520.
- These purchases totaled 444 shares of Class B Common stock.
- He also reported indirect ownership through his spouse and as custodian for James Freeman Bailey, Jr., Royall Holding Bailey, and Jones Powell Bailey.
- Additionally, Holding reported indirect ownership as a beneficiary of a trust.
- In late February 2025, Holding contributed 106,000 shares of Class A Common Stock and 32,000 shares of Class B Common Stock to each of two new grantor retained annuity trusts (GRATs).
- His spouse also contributed 115,000 shares of Class A Common Stock and 32,000 shares of Class B Common Stock to a GRAT.
Sentiment
Score: 5
Explanation: This is a routine regulatory filing, so the sentiment is neutral.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The transactions provide transparency to shareholders regarding insider activity.
Key Dates
| Date | Description |
|---|---|
| 02/27/2025 | Reporting person contributed shares to Frank B. Holding Jr. 2025 #1 GRAT |
| 02/28/2025 | Reporting person contributed shares to Frank B. Holding Jr. 2025 #2 GRAT and spouse contributed shares to Ruth P. Holding GRAT |
| 03/10/2025 | Reporting person purchased Class B Common stock |
| 03/12/2025 | Date of Form 4 filing |
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