Form 4: First Interstate Bancsystem Inc. Executive Reports Changes in Beneficial Ownership

Kirk D. Jensen, General Counsel of First Interstate Bancsystem Inc., reports transactions involving company stock, including acquisition of shares through restricted stock units and disposition for tax obligations.

Summary

• On March 15, 2025, Kirk D. Jensen, General Counsel of First Interstate Bancsystem Inc., acquired 4,404 shares of common stock upon vesting of restricted stock units.
• These restricted stock units were granted under the company's 2023 Equity and Incentive Plan and vest in three equal annual installments starting March 15, 2026, contingent upon continued employment.
• On March 17, 2025, Jensen disposed of shares to the issuer to cover minimum required withholding taxes due upon the vesting of unvested shares.
• These dispositions occurred at a price of $29.14 per share, with 230, 528, 363, and 581 shares disposed of in separate transactions.
• Following these transactions, Jensen directly owns 30,155 shares of First Interstate Bancsystem Inc. common stock.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and compliance with SEC regulations, indicating a neutral to slightly positive sentiment.

Positives

• The acquisition of shares through vesting of restricted stock units indicates a long-term incentive for the reporting person.
• The vesting schedule of the restricted stock units encourages continued employment with the company.

Negatives

• The disposition of shares to cover withholding taxes reduces the reporting person's holdings, although this is a common practice.

Risks

• The vesting of restricted stock units is contingent upon continued employment, creating a potential risk if the reporting person leaves the company before full vesting.

Future Outlook

The reporting person will continue to vest in restricted stock units annually until March 15, 2028, contingent upon continued employment.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their transactions in company stock. It is typical for executives to receive equity compensation and to sell shares to cover tax obligations.

Comparison to Industry Standards

• Equity compensation is a standard practice across the financial industry to align executive interests with shareholder value.
• Companies like JPMorgan Chase & Co. and Bank of America also utilize restricted stock units as part of their executive compensation packages.
• The vesting schedules and terms of these grants are generally comparable across similar-sized financial institutions.

Stakeholder Impact

• Shareholders can monitor insider transactions to gain insights into management's perspective on the company's value.
• The equity compensation plan incentivizes the General Counsel to contribute to the company's long-term success.

Next Steps

• Continued monitoring of insider transactions to assess management's confidence in the company.
• Further vesting of restricted stock units on subsequent vesting dates.

Key Dates