Form 4: First Citizens BancShares Director Peter M. Bristow Reports Changes in Beneficial Ownership

Peter M. Bristow, a director at First Citizens BancShares, reported changes in his beneficial ownership of company stock through various trusts and entities.

Summary

• Peter M. Bristow, a director and officer at First Citizens BancShares, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• The transactions, dated December 13, 2024, involved the transfer of Class A and Class B common stock, as well as depositary shares, to various trusts and entities.
• These transfers were executed at a price of $0, indicating they were likely gifts or transfers between related parties.
• The report also details the number of shares held indirectly through various trusts, including those for his spouse and children.
• Mr. Bristow disclaims beneficial ownership of some of these securities, stating that the report should not be seen as an admission of 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 a 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 insider, which is a common practice in the financial industry to ensure transparency and prevent insider trading.

Comparison to Industry Standards

• Form 4 filings are standard practice for corporate insiders in the US, and this filing is consistent with the requirements of the Securities and Exchange Commission.
• Similar filings are made by directors and officers of other publicly traded companies, such as JPMorgan Chase & Co. (JPM) and Bank of America Corp. (BAC), when they have changes in their beneficial ownership of company stock.

Stakeholder Impact

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

Key Dates

Keywords

beneficial ownership, Form 4, First Citizens BancShares, stock transfer, director, trusts, FCNCA, insider trading