Form 4: First Interstate BancSystem Director Acquires Shares and Reports Beneficial Ownership
SEC Form 4
James R. Scott, a director and 10% owner of First Interstate BancSystem Inc., reports the acquisition of shares and discloses beneficial ownership through various entities.
Summary
- This Form 4 filing details changes in beneficial ownership of First Interstate BancSystem Inc. (FIBK) stock by James R. Scott, a director and 10% owner.
- On June 1, 2024, Scott acquired 3,014 shares of common stock upon vesting of restricted stock units at a price of $0.
- Following the transaction, Scott directly owns 21,333 shares.
- Scott also indirectly owns 4,388,016 shares through various entities, including trusts, a foundation, and a limited partnership.
- These entities include James R Scott Trust, James R Scott & First Interstate Wealth Management Co-TTEEs, James R Scott's 401k, James R and Christine M Scott Foundation, JS Investments Limited Partnership, Foundation for Community Vitality, James F Heyneman Conservatorship, James Scott, Conservator, James F Heyneman Trust, James Scott & First Interstate Wealth Management Co-Trustees, and James R. Scott's spouse.
- The reporting persons may be deemed members of a group and may be deemed to share beneficial ownership of the securities reported.
- The reporting persons expect to file future Forms 4 and 5 together with James R. Scott.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports transactions and ownership details.
Positives
- The acquisition of shares by a director could be seen as a positive signal, indicating confidence in the company's future prospects.
Future Outlook
The reporting persons expect to file future Forms 4 and 5, if any, together with James R. Scott.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The filing provides transparency to shareholders regarding insider transactions and ownership structure.
Key Dates
| Date | Description |
|---|---|
| 06/01/2024 | Date of transaction: Acquisition of shares upon vesting of restricted stock units. |
| 06/01/2025 | Vesting date of restricted stock units, subject to continuous service. |
| 06/04/2024 | Date of Form 4 filing. |
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