Form 4: Frank B. Holding Jr. Reports Changes in Beneficial Ownership of First Citizens BancShares Inc. Stock

Frank B. Holding Jr., Chairman and CEO of First Citizens BancShares Inc., reports changes in his beneficial ownership of Class A and Class B common stock due to gift transactions.

Summary

• Frank B. Holding Jr., Chairman and CEO of First Citizens BancShares Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's stock on February 21, 2025.
• The reported transactions involve gifts of Class A and Class B common stock to custodians for James Freeman Bailey, Jr., Royall Holding Bailey, and Jones Powell Bailey.
• These transactions did not involve any monetary exchange, as indicated by a price of $0 per share for the gifted shares.
• Following the reported transactions, Holding's direct and indirect ownership of Class A and Class B common stock remains substantial.
• Holding disclaims beneficial ownership of the securities held by custodians, and the report should not be considered an admission of beneficial ownership for Section 16 purposes.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing, reporting transactions without expressing any particular 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

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and major shareholders.

Stakeholder Impact

• The transactions may be of interest to shareholders as they provide insight into the ownership structure of the company.
• The gifts do not appear to have a material impact on the company's operations or financial condition.

Key Dates