Form 4: First Citizens BancShares Director Reports Share Transfers to Trusts

Director Carson H. Brice reported the transfer of First Citizens BancShares stock to trusts for the benefit of her children, while disclaiming beneficial ownership of those shares.

Summary

• Carson H. Brice, a director at First Citizens BancShares, reported the transfer of 120 shares of Class A Common stock to trusts for the benefit of her children.
• The transfers were made on December 3, 2024, with 40 shares going to each of the trusts for Stephen B. Brice, Elizabeth M. Brice, and Cordelia A. Brice.
• The director also reported indirect ownership of a significant number of Class A and Class B common shares through various trusts, custodianships, and as a beneficiary of a trust.
• Ms. Brice disclaims beneficial ownership of the shares held in the trusts and by custodians, stating that she does not have investment control over them.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing and does not contain any information that would be considered positive or negative from an investment perspective. It is a neutral event.

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 insider transactions, which is common for publicly traded companies. It provides transparency into the ownership changes of company stock by its directors.

Comparison to Industry Standards

• The reporting of insider transactions via SEC Form 4 is a standard practice for all publicly traded companies in the United States.
• The level of detail provided in this filing is consistent with what is expected for such disclosures.
• Similar filings can be seen from directors and officers of other financial institutions such as Bank of America (BAC) and JPMorgan Chase (JPM).

Stakeholder Impact

• The share transfers do not have a direct impact on shareholders, employees, customers, suppliers, or creditors as they are internal transfers of ownership.

Key Dates

Keywords

First Citizens BancShares, FCNCA, Director, Beneficial Ownership, Share Transfer, Trusts, SEC Form 4, Insider Trading