Form 4: FIBK Director Scott Reports Gifted Shares

First Interstate BancSystem Director Jeremy Scott reported the acquisition of 550 common shares via gift, effective December 8, 2025.

Summary

• Jeremy Scott, a Director and 10% owner of First Interstate BancSystem Inc. (FIBK), reported a change in beneficial ownership.
• The filing indicates an acquisition of 550 shares of common stock via gift (Transaction Code 'G') on December 8, 2025, at a price of $0.
• Following this transaction, Jeremy Scott's direct beneficial ownership stands at 3,496 shares.
• Indirect beneficial ownership totals 3,512,449 shares, held through NBar 5 Limited Partnership (3,416,108 shares), Jeremy Scott Revocable Trust (93,511 shares), and Jeremy Scott's spouse (2,830 shares).
• The reporting persons may be deemed part of a group with other stockholders and disclaim beneficial ownership beyond their pecuniary interest.

Sentiment

Score: 6

Explanation: The acquisition of shares by a director and 10% owner, even as a gift, generally signals continued alignment with the company's interests. However, the delay in filing the Form 4 is a minor procedural concern.

Positives

• An insider (Director and 10% owner) is increasing their direct shareholding, albeit through a gift, which can be seen as a positive signal of commitment to the company.

Risks

• The filing mentions that reporting persons may be deemed members of a group with other signatories and may be deemed to share beneficial ownership, which could introduce complexities regarding control or influence.

Future Outlook

The reporting persons expect to file future Forms 4 and 5, if any, together with James R. Scott, with the indication of direct or indirect ownership being made from James R. Scott's perspective unless expressly noted otherwise.

Management Comments

• The reporting persons may be deemed members of a group with the other signatories thereto and may be deemed to share beneficial ownership of the securities reported herein.
• Each of the reporting persons disclaims beneficial ownership of any such securities, except to the extent of its pecuniary interest therein.
• The reporting persons expect to file future Forms 4 and 5, if any, together with James R. Scott with the indication of direct or indirect ownership in Tables I and II being made from James R. Scott's perspective unless expressly noted otherwise by footnote.

Industry Context

This filing is a routine insider transaction report for a financial institution, indicating a change in a director's personal holdings rather than a strategic corporate move. Such transactions are common in the banking sector, reflecting individual investment decisions by executives and board members.

Comparison to Industry Standards

• NA

Related Party Transactions

• The indirect beneficial ownership includes shares held by NBar 5 Limited Partnership and Jeremy Scott's spouse, indicating related party holdings.

Stakeholder Impact

• Shareholders: The transaction indicates a director's continued stake in the company, potentially reinforcing confidence. The group beneficial ownership disclosure might imply coordinated influence among certain large shareholders.

Next Steps

• Reporting persons expect to file future Forms 4 and 5, if any, together with James R. Scott.

Key Dates

Recommendation

This Form 4 reports a gift of shares to a director and 10% owner, which is a minor insider transaction. While it shows continued insider alignment, it does not provide new fundamental information about the company's operational or financial performance that would warrant a change in investment recommendation. The slight delay in filing is a procedural note but not material enough to alter the investment thesis.

Keywords

First Interstate BancSystem, FIBK, Jeremy Scott, Director, 10% Owner, Beneficial Ownership, SEC Form 4, Insider Transaction, Common Stock, Gift