Form 4: FIBK Director Sells 4,800 Shares Under 10b5-1 Plan

Jonathan R. Scott, a Director and 10% owner of First Interstate Bancsystem Inc., sold 4,800 shares of common stock for $31.27 per share under a pre-arranged 10b5-1 trading plan.

Summary

• Jonathan R. Scott, a Director and 10% owner of First Interstate Bancsystem Inc. (FIBK), reported the sale of 4,800 shares of common stock.
• The transaction occurred on November 3, 2025, at a price of $31.27 per share.
• The sale was executed pursuant to a Rule 10b5-1(c) trading plan, indicating a pre-scheduled transaction.
• Following this transaction, Scott's indirect beneficial ownership stands at 941,024 shares.
• Indirect ownership is held through various entities including the Jonathan R Scott Trust (576,486 shares), IXL Limited Liability Company (209,678 shares), Holland Elizabeth Scott Trust (36,553 shares), Harper Grace Scott Trust (36,553 shares), Harrison William Scott Trust (36,554 shares), and Scott's spouse (45,200 shares).
• Reporting persons may be deemed members of a group with other stockholders and disclaim beneficial ownership beyond their pecuniary interest.

Sentiment

Score: 4

Explanation: The sale of shares by a Director and 10% owner, while executed under a pre-planned 10b5-1 arrangement, still represents a reduction in insider holdings. This is generally viewed with slight caution by investors, though the pre-planned nature reduces the immediate negative signal.

Positives

• The sale was conducted under a Rule 10b5-1(c) plan, which suggests the transaction was pre-scheduled and not based on immediate, non-public information.

Negatives

• A Director and 10% owner sold 4,800 shares of common stock, reducing their overall beneficial ownership.

Future Outlook

Reporting persons expect to file future Forms 4 and 5, if any, together with Jonathan R. Scott, indicating direct or indirect ownership from Jonathan R. Scott's perspective.

Industry Context

This Form 4 filing reports an insider stock sale, which is a routine disclosure for publicly traded companies. The sale by a director and 10% owner, even under a 10b5-1 plan, is a common occurrence in the financial services sector as executives manage personal portfolios and liquidity.

Related Party Transactions

• The reporting persons may be deemed members of a group with other signatories to certain agreements with the Issuer and other stockholders, potentially sharing beneficial ownership of securities. Each reporting person disclaims beneficial ownership except to the extent of their pecuniary interest.

Stakeholder Impact

• Shareholders may view the insider sale, even if pre-planned, as a signal regarding the insider's personal portfolio management, potentially influencing sentiment regarding the stock.

Next Steps

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

Key Dates

Recommendation

While a Director and 10% owner has sold shares, the transaction was executed under a Rule 10b5-1 plan, suggesting it was a pre-scheduled event rather than a reaction to new, adverse information. This mitigates the negative signal typically associated with insider sales. Without additional company-specific financial or strategic updates, a 'hold' recommendation is appropriate, advising investors to maintain their current position while monitoring future developments and broader market conditions for FIBK.

Keywords

FIBK, First Interstate Bancsystem, Jonathan R. Scott, Insider Sale, Form 4, 10b5-1 Plan, Director, 10% Owner, Stock Transaction, Beneficial Ownership