Form 4: First Citizens BancShares Inc. Insider Holdings Update: Frank B. Holding Jr.'s Transactions

Frank B. Holding Jr., Chairman and CEO of First Citizens BancShares Inc., reports multiple transactions involving Class A and Class B common stock held directly and in custodial and trust capacities.

Summary

• Frank B. Holding Jr., Chairman and CEO of First Citizens BancShares Inc., has filed a Form 4 detailing various transactions.
• These transactions involve Class A and Class B common stock held directly, as well as in custodial and trust capacities.
• The transactions occurred on December 11, 2024.
• The report includes holdings for James Freeman Bailey, Jr., Royall Holding Bailey, and Jones Powell Bailey, all held in custodial accounts.
• Additionally, holdings are reported as a beneficiary of a trust and by spouse.
• The reporting person disclaims beneficial ownership of certain securities, stating that the report should not be seen as an admission of beneficial ownership for purposes of Section 16 of the Securities Exchange Act of 1934.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing, not indicative of 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 insider transactions, which is a standard practice for publicly traded companies and their executives.

Comparison to Industry Standards

• Form 4 filings are a standard requirement for corporate insiders in the United States, as mandated by the Securities and Exchange Commission (SEC).
• The level of detail provided in this filing is consistent with typical Form 4 disclosures.
• Similar filings are made by executives at other financial institutions such as Bank of America (BAC) and JPMorgan Chase (JPM) when they engage in transactions involving their company's stock.

Stakeholder Impact

• This filing provides transparency to shareholders regarding the transactions of a key executive.
• The disclaimer of beneficial ownership may be relevant to stakeholders assessing the executive's direct control over the reported shares.

Key Dates

Keywords

First Citizens BancShares, FCNCA, Insider Trading, Form 4, Frank B. Holding Jr., Class A Common Stock, Class B Common Stock, Beneficial Ownership, Custodial Accounts, Trust