Form 4: First Citizens BancShares Director Claire Bristow Reports Share Transfers

Director Claire Bristow of First Citizens BancShares reported the transfer of various classes of shares, including common stock and depositary shares, primarily to trusts.

Summary

• Claire Bristow, a director at First Citizens BancShares, filed a Form 4 detailing changes in her beneficial ownership of the company's securities.
• The transactions primarily involve the transfer of Class A Common Stock, Class B Common Stock, and Depositary Shares to various trusts.
• These transfers were executed on December 13, 2024, and are reported as gifts with a price of $0.
• The report includes both direct and indirect holdings, with many shares held through trusts where Ms. Bristow or her spouse act as trustees or beneficiaries.
• Ms. Bristow disclaims beneficial ownership of some of these securities, stating that the report should not be seen as an admission of beneficial ownership for the purposes of Section 16 of the Securities Exchange Act of 1934.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing and does not contain any information that would indicate positive or negative sentiment.

Management Comments

• The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934 or for any other purpose.

Industry Context

This filing is a routine disclosure of changes in beneficial ownership by a company director, which is a common practice in the financial industry to ensure transparency and compliance with securities regulations.

Comparison to Industry Standards

• Form 4 filings are standard practice for corporate insiders, such as directors, to report changes in their ownership of company securities.
• The reporting of transfers to trusts is a common method for estate planning and asset management among high-net-worth individuals, including corporate directors.
• The disclaimer of beneficial ownership for certain securities held in trust is also a standard practice to avoid unintended implications under securities laws.

Stakeholder Impact

• The transactions reported in this Form 4 are not expected to have a significant impact on shareholders, employees, customers, suppliers, or creditors.

Key Dates

Keywords

Form 4, Beneficial Ownership, First Citizens BancShares, Share Transfer, Director, Trusts, Class A Common Stock, Class B Common Stock, Depositary Shares