Form 4: FIBK Director Sells Over $619K in Pre-Planned Stock Sales

Jonathan R. Scott, a Director and 10% owner of First Interstate BancSystem Inc., reported the sale of 19,315 shares of common stock for approximately $619,346 through pre-scheduled transactions.

Summary

• Jonathan R. Scott, a Director and 10% owner of First Interstate BancSystem Inc. (FIBK), reported two sales of common stock.
• On October 7, 2025, 13,715 shares were sold at a weighted average price of $32.09 per share, totaling approximately $440,090.35.
• On October 8, 2025, an additional 5,600 shares were sold at a weighted average price of $32.01 per share, totaling approximately $179,256.00.
• The total value of shares sold across both transactions amounts to approximately $619,346.35.
• These transactions were made pursuant to a Rule 10b5-1(c) pre-arranged trading plan.
• Following these transactions, the reporting persons beneficially own 953,509 shares of common stock indirectly.
• The beneficial ownership is held across various trusts and entities, including Jonathan R Scott Trust, IXL Limited Liability Company, Holland Elizabeth Scott Trust, Harper Grace Scott Trust, Harrison William Scott Trust, and Jonathan Scott's spouse.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to a significant insider sale, but mitigated by the fact that it was a pre-planned transaction under a Rule 10b5-1(c) plan, suggesting it was not based on new, adverse information.

Positives

• The sales were conducted under a Rule 10b5-1(c) plan, indicating they were pre-scheduled and not based on new, non-public information, which can mitigate negative market perception of insider selling.

Negatives

• A Director and 10% owner reducing their stake in the company can be perceived negatively by investors, potentially signaling a lack of confidence or a desire to diversify.

Risks

• NA

Future Outlook

The filing does not provide a future outlook for the company, but the reporting persons expect to file future Forms 4 and 5, if any, together with Jonathan R. Scott.

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 filing reports an individual insider transaction and does not provide broader industry context or trends.

Comparison to Industry Standards

• NA

Related Party Transactions

• The beneficial ownership is held indirectly through various trusts and an LLC, which are related parties to Jonathan R. Scott. The reporting persons may be deemed members of a group with other signatories to certain agreements and may be deemed to share beneficial ownership, though each disclaims beneficial ownership except to the extent of their pecuniary interest.

Stakeholder Impact

• Shareholders may interpret the sale by a Director and 10% owner as a signal, potentially leading to a cautious view on the stock, although the 10b5-1 plan provides context that the sale was pre-planned.

Next Steps

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

Key Dates

Recommendation

While a significant insider sale by a Director and 10% owner could be a negative signal, the disclosure that the transactions were executed under a Rule 10b5-1(c) plan suggests they were pre-scheduled and not based on new, material non-public information. This mitigates the immediate negative implications. Investors should monitor future insider activity and broader company performance, but this specific filing alone does not warrant a strong 'sell' recommendation.

Keywords

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