Form 4: Frank B. Holding Jr., Chairman and CEO of First Citizens BancShares, Reports Changes in Beneficial Ownership

Frank B. Holding Jr., Chairman and CEO of First Citizens BancShares, filed a Form 4 detailing changes in his beneficial ownership of Class A and Class B Common Stock due to gift transactions.

Summary

• On June 3, 2024, Frank B. Holding Jr., Chairman and CEO of First Citizens BancShares, reported changes in his beneficial ownership of the company's stock.
• The changes involve gifts of Class A and Class B Common Stock.
• These shares are held indirectly as custodian for James Freeman Bailey, Jr., Royall Holding Bailey, and Jones Powell Bailey.
• The reporting person disclaims beneficial ownership of these securities, and the report should not be deemed an admission of beneficial ownership.
• Following the reported transactions, Holding directly owns 525,063 shares of Class A Common Stock and 97,609 shares of Class B Common Stock.
• He also indirectly owns shares as a beneficiary of a trust and through his spouse.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing. It doesn't convey any positive or negative sentiment about the company's performance or prospects.

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 required by the SEC for corporate insiders, providing transparency to the market regarding their holdings and transactions in the company's stock.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership structure of the company.
• It assures stakeholders that insider transactions are being properly disclosed.

Key Dates