Form 4: First Citizens BancShares Insider Reports GRAT Share Distribution

Hope H. Bryant, Vice Chairwoman of First Citizens BancShares, reported the planned distribution of Class A and Class B common shares from a terminating grantor retained annuity trust.

Summary

• Hope H. Bryant, Vice Chairwoman and Director of First Citizens BancShares Inc. (FCNCA), reported changes in beneficial ownership scheduled for December 22, 2025.
• The Hope H. Bryant 2023 grantor retained annuity trust (GRAT) will terminate on this date.
• Upon termination, 29,398 shares of Class A Common Stock and 7,442 shares of Class B Common Stock from the GRAT will be distributed to her children as remainder beneficiaries.
• An additional 55,270 shares of Class A Common Stock from the GRAT will be distributed to her revocable trust, which will continue to be indirectly owned by Ms. Bryant.
• Separately, 126 shares of Class A Common Stock were disposed of from her revocable trust.
• All reported dispositions occurred at a price of $0, indicating distributions rather than market sales.
• Following these transactions, the revocable trust for Hope H. Bryant will beneficially own 156,962 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: The filing reports pre-planned estate management transactions (GRAT termination and distributions) by an insider, which are neutral in terms of company operational performance or market sentiment. It's a routine disclosure for a scheduled event.

Positives

• The transactions represent a planned estate management event, not a discretionary sale based on market sentiment.
• A significant portion of shares (55,270 Class A Common) remain indirectly owned by the reporting person through her revocable trust.

Negatives

• A total of 29,398 Class A Common shares and 7,442 Class B Common shares are being distributed out of the reporting person's indirect control to her children.
• An additional 126 Class A Common shares were disposed of from her revocable trust.

Future Outlook

No forward-looking statements or guidance provided in the filing.

Industry Context

This filing is a routine insider transaction report related to personal estate planning and does not directly reflect broader industry trends or competitive positioning for First Citizens BancShares.

Related Party Transactions

• Distribution of 29,398 Class A Common shares and 7,442 Class B Common shares from the Hope H. Bryant 2023 GRAT to the reporting person's children as remainder beneficiaries.

Stakeholder Impact

• Shareholders: Minor dilution of the reporting person's indirect ownership, but the overall impact on the company's share structure or market is negligible given the nature of the transaction.
• Employees/Customers/Suppliers/Creditors: No direct impact.

Key Dates

Recommendation

This Form 4 reports pre-planned estate management transactions by an insider, specifically the termination of a grantor retained annuity trust (GRAT) and subsequent share distributions. These transactions are not indicative of discretionary buying or selling based on the company's current performance or future outlook. Therefore, the filing itself does not provide new information that would warrant a change in investment recommendation for First Citizens BancShares. A 'hold' recommendation is appropriate as the filing is neutral to the company's fundamentals.

Keywords

First Citizens BancShares, FCNCA, Hope H. Bryant, Form 4, Insider Transaction, Beneficial Ownership, GRAT, Grantor Retained Annuity Trust, Estate Planning, Share Distribution, Class A Common Stock, Class B Common Stock