Form 4: First Interstate BancSystem Director James R. Scott Transfers Shares to Foundation

James R. Scott, a director and 10% owner of First Interstate BancSystem, has transferred shares to the Foundation for Community Vitality as a bona fide gift.

Summary

• James R. Scott, a director and significant shareholder of First Interstate BancSystem Inc., has reported changes in his beneficial ownership of the company's common stock.
• The transactions involved the transfer of shares to the Foundation for Community Vitality as a gift.
• These transfers occurred on December 11, 2024, and involved both direct holdings and holdings through various trusts and partnerships.
• The total number of shares beneficially owned by James R. Scott and related entities remains substantial, with over 4.3 million shares.
• The reporting persons may be deemed members of a group and may share beneficial ownership of the securities reported.

Sentiment

Score: 7

Explanation: The document is a routine disclosure of share transfers, which is neither positive nor negative. The philanthropic aspect of the transfer is a slight positive.

Positives

• The transfer of shares to the Foundation for Community Vitality suggests a philanthropic commitment by James R. Scott.
• The continued substantial ownership by James R. Scott and related entities indicates a strong alignment of interests with the company's performance.

Risks

• The complex structure of ownership through various trusts and partnerships could potentially lead to future reporting complexities.
• The potential for the reporting persons to be deemed a group could lead to regulatory scrutiny.

Future Outlook

The reporting persons expect to file future Forms 4 and 5, if any, together with James R. Scott.

Industry Context

This filing is a routine disclosure of changes in beneficial ownership by a company insider, which is common in the financial industry.

Comparison to Industry Standards

• Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders in the US.
• The level of detail provided in this filing is consistent with SEC requirements.
• The use of trusts and partnerships for holding shares is a common practice among high-net-worth individuals and company insiders.

Related Party Transactions

• The transfer of shares to the Foundation for Community Vitality, which may be considered a related party, is disclosed.

Stakeholder Impact

• The share transfer does not have a direct impact on shareholders, employees, customers, or suppliers.
• The transfer to the Foundation for Community Vitality may have a positive impact on the community.

Next Steps

• The reporting persons will continue to file Forms 4 and 5 as required for future transactions.
• The Foundation for Community Vitality will likely use the gifted shares for its charitable purposes.

Key Dates

Keywords

First Interstate BancSystem, James R. Scott, beneficial ownership, share transfer, Foundation for Community Vitality, director, 10% owner, Form 4, stock transaction