Form 4: Director Sells PEBK Shares Under 10b5-1 Plan

A director and 10% owner of Peoples Bancorp of North Carolina Inc. sold 300 shares of common stock for $32.35 per share under a pre-arranged trading plan.

Summary

• James S. Abernethy, a Director and 10% Owner of Peoples Bancorp of North Carolina Inc. (PEBK), reported a sale of common stock.
• The transaction involved the disposition of 300 shares of common stock.
• The shares were sold at a price of $32.35 per share.
• The transaction occurred on December 2, 2025.
• The sale was conducted pursuant to a Rule 10b5-1(c) trading plan, indicating a pre-scheduled transaction.
• Following the transaction, Mr. Abernethy beneficially owns 66,926 shares directly.
• Indirect beneficial ownership totals 108,041 shares, comprising 37,600 shares through his son and 70,441 shares through his role as VP, Sec & Chairman of Alexander Railroad.

Sentiment

Score: 5

Explanation: The filing reports a routine insider stock sale by a director under a pre-arranged 10b5-1 trading plan. While an insider sale can sometimes be viewed negatively, the existence of a 10b5-1 plan suggests it is not based on new material non-public information, thus making the sentiment neutral.

Positives

• The sale was executed under a Rule 10b5-1(c) plan, which suggests the transaction was pre-scheduled and not based on new material non-public information.

Negatives

• A director and 10% owner sold shares, which can sometimes be interpreted with caution by the market, although the 10b5-1 plan mitigates this concern.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Indirect beneficial ownership includes 37,600 shares held by the reporting person's son.
• Indirect beneficial ownership includes 70,441 shares held through the reporting person's role as VP, Sec & Chairman of Alexander Railroad.

Stakeholder Impact

• Shareholders: A director's sale, even under a 10b5-1 plan, might be viewed with slight caution, but the small number of shares relative to total ownership and the pre-planned nature limit significant impact on shareholder sentiment.

Key Dates

Recommendation

The filing details a pre-scheduled insider sale by a director, which is a routine event and does not typically signal a change in the company's fundamental outlook. The transaction volume is relatively small compared to the director's total beneficial ownership, and the 10b5-1 plan mitigates concerns about opportunistic selling. Therefore, a 'hold' recommendation is appropriate as this specific filing does not provide new information to alter an existing investment thesis.

Keywords

PEBK, Peoples Bancorp of North Carolina, Insider Trading, Form 4, Stock Sale, Director Transaction, 10b5-1 Plan, Financial Services, Banking