Form 4: FIBK Director Sells 685 Shares

Jonathan R. Scott, a Director and 10% owner of First Interstate BancSystem Inc., reported the sale of 685 shares of common stock for approximately $31.66 per share.

Summary

• Jonathan R. Scott, a Director and 10% owner of First Interstate BancSystem Inc. (FIBK), reported a transaction involving the company's common stock.
• On October 9, 2025, Scott disposed of 685 shares of FIBK Common Stock.
• The shares were sold at a weighted average price of $31.66 per share, with individual transaction prices ranging from $31.52 to $31.76.
• Following this transaction, Scott and related entities beneficially own a total of 952,824 shares of Common Stock.
• The beneficial ownership includes shares held by Jonathan Scott as Trustee of the Jonathan R Scott Trust (589,086 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 Jonathan Scott's spouse (50,000 shares).
• The transaction was made pursuant to a Rule 10b5-1(c) plan.
• Reporting persons may be deemed members of a group with other signatories due to certain agreements, disclaiming beneficial ownership except for pecuniary interest.

Sentiment

Score: 5

Explanation: A director's sale of shares is a neutral event on its own, often driven by personal financial planning. While some investors may view insider selling negatively, the transaction was pre-arranged under a 10b5-1 plan, which mitigates immediate market reaction concerns. The filing provides no other information to suggest a positive or negative outlook for the company.

Positives

• The transaction was executed under a Rule 10b5-1(c) plan, indicating a pre-arranged sale rather than a reaction to immediate market conditions.

Negatives

• A Director and 10% owner selling shares could be perceived by some investors as a signal of reduced confidence, although it could also be for personal financial planning or diversification.

Risks

• Potential negative investor sentiment if the sale is interpreted as a lack of confidence by a significant insider.

Future Outlook

The reporting persons expect to file future Forms 4 and 5, if any, together with Jonathan R. Scott, with ownership indicated from Jonathan R. Scott's perspective.

Management Comments

• The reporting person undertakes to provide to First Interstate BancSystem, Inc., any security holder of First Interstate BancSystem, Inc., or the staff of the Securities and Exchange Commission, upon request, the full information regarding the number of shares sold at each separate price within the ranges set forth above.

Industry Context

This insider transaction is a routine disclosure for publicly traded companies, reflecting a director's personal stock activity. It does not inherently provide insight into broader banking industry trends or competitive landscape.

Comparison to Industry Standards

• Not applicable. This filing reports a specific insider transaction and does not contain information suitable for comparison to global benchmarks or specific comparable companies/projects.

Corporate Governance

Related Party Transactions

• The beneficial ownership structure involves multiple trusts and an LLC related to Jonathan R. Scott, as well as his spouse, indicating related party holdings.
• Footnote 3 mentions "certain agreements entered into by and among the reporting persons, the Issuer, and certain other stockholders of the Issuer," which leads to the formation of a deemed group for beneficial ownership reporting.

Stakeholder Impact

• Shareholders: May interpret the director's sale differently; some might see it as a routine personal financial decision, while others might view it as a signal of reduced confidence in the company's short-term prospects.
• Regulatory Authorities: The filing ensures transparency regarding insider trading activities, fulfilling SEC Section 16(a) requirements.

Next Steps

• Reporting persons expect to file future Forms 4 and 5, if applicable.
• The reporting person will provide detailed transaction price information upon request.

Key Dates

Keywords

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