Form 4: FIBK Director Sells 5,000 Shares Under 10b5-1 Plan

First Interstate BancSystem director Jonathan R. Scott reported sales of common stock totaling 5,000 shares in early January 2026 under a pre-arranged trading plan.

Summary

• Jonathan R. Scott, a Director and 10% Owner of First Interstate BancSystem Inc. (FIBK), reported the sale of 5,000 shares of common stock.
• On January 5, 2026, 3,173 shares were sold at a weighted average price of $36.20 per share, with transaction prices ranging from $36.10 to $36.37.
• On January 6, 2026, an additional 1,827 shares were sold at a weighted average price of $36.92 per share, with transaction prices ranging from $36.42 to $37.15.
• These transactions were made pursuant to a Rule 10b5-1(c) contract, instruction, or written plan for the purchase or sale of equity securities.
• Following these sales, the reporting person's beneficial ownership of common stock stands at 936,024 shares.
• Beneficial ownership is held indirectly through various trusts (Jonathan R Scott Trust, Holland Elizabeth Scott Trust, Harper Grace Scott Trust, Harrison William Scott Trust), IXL Limited Liability Company, and Jonathan Scott's spouse.
• The reporting persons may be deemed members of a group with other signatories to certain agreements and may share beneficial ownership, though each disclaims ownership beyond their pecuniary interest.

Sentiment

Score: 5

Explanation: The sentiment is neutral to slightly negative. While insider selling can be a bearish signal, the execution under a Rule 10b5-1 plan suggests pre-planned personal financial management rather than a reaction to adverse company news, mitigating the negative impact.

Positives

• The filing demonstrates transparency in insider transactions as required by SEC regulations.
• The transactions were made pursuant to a Rule 10b5-1 plan, indicating pre-scheduled sales rather than immediate market reaction to new information.

Negatives

• Insider selling by a director and 10% owner could be interpreted by some investors as a lack of confidence in the company's near-term prospects.
• A total of 5,000 shares were disposed of, reducing the insider's direct and indirect holdings.

Risks

• Potential for negative market sentiment if investors misinterpret the insider sales as a signal of future underperformance, despite the 10b5-1 plan.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Beneficial ownership is held indirectly through several trusts (Jonathan R Scott Trust, Holland Elizabeth Scott Trust, Harper Grace Scott Trust, Harrison William Scott Trust) and IXL Limited Liability Company, which are related entities to Jonathan R. Scott.
• The reporting persons may be deemed members of a group with other signatories to certain agreements, potentially implying broader related party dealings, though each disclaims ownership beyond their pecuniary interest.

Stakeholder Impact

• Shareholders may interpret the insider sales as a bearish signal, potentially leading to downward pressure on the stock price, although the 10b5-1 plan mitigates this interpretation.
• The transactions reflect a change in the ownership structure of a significant insider, which is a material disclosure for all stakeholders.

Next Steps

• Reporting persons expect to file future Forms 4 and 5, if any, together with Jonathan R. Scott, with the indication of direct or indirect ownership being made from Jonathan R. Scott's perspective.

Key Dates

Recommendation

The filing reports routine insider sales executed under a Rule 10b5-1 plan. While insider selling by a significant owner and director can sometimes signal a lack of confidence, the pre-arranged nature of these sales suggests they are part of a personal financial management strategy rather than a reaction to new, adverse company information. Therefore, this specific filing alone does not provide sufficient new information to warrant a change in investment recommendation, but it is a data point to monitor in conjunction with other company news and financial performance.

Keywords

FIBK, Insider Trading, Form 4, Stock Sale, Jonathan R. Scott, First Interstate BancSystem, 10b5-1 Plan, Beneficial Ownership