Form 4: PEBK Director Sells 600 Shares Under 10b5-1 Plan

James S. Abernethy, a Director at Peoples Bancorp of North Carolina Inc., reported the sale of 600 shares of common stock over two days in late November 2025, executed under a Rule 10b5-1 plan.

Summary

• James S. Abernethy, a Director of Peoples Bancorp of North Carolina Inc. (PEBK), reported transactions involving the company's common stock.
• These transactions were made pursuant to a Rule 10b5-1 plan, indicating a pre-arranged sale.
• On November 25, 2025, 2 shares of common stock were disposed of at a price of $33.00 per share.
• On November 26, 2025, 598 shares of common stock were disposed of at a price of $32.03 per share.
• These sales were made indirectly, attributed to ownership by his son.
• Following these transactions, Mr. Abernethy's indirect beneficial ownership through his son is 37,600 shares.
• His direct beneficial ownership remains 67,226 shares.
• He also indirectly beneficially owns 70,441 shares through his role as VP, Sec & Chairman of Alexander Railroad.
• The total beneficial ownership after these transactions is 175,267 shares.

Sentiment

Score: 5

Explanation: The sale of shares by a director, while reducing direct alignment, was conducted under a Rule 10b5-1 plan. This indicates a pre-arranged transaction rather than a reactive sale, which generally mitigates the negative sentiment often associated with insider selling. The amount is also relatively small compared to total holdings.

Future Outlook

NA

Industry Context

Insider transactions, such as director sales, are closely watched in the banking sector as they can provide signals regarding management's perception of the company's valuation or future prospects. While a small sale, the execution under a Rule 10b5-1 plan indicates a pre-arranged transaction, which is a common practice for financial planning among executives and directors.

Related Party Transactions

• The reported transactions involve shares indirectly beneficially owned by James S. Abernethy through his son, which constitutes a related party transaction under SEC rules for reporting purposes.

Stakeholder Impact

• Shareholders may note the director's sale, but its execution under a 10b5-1 plan suggests it is for personal financial planning rather than a signal of company distress, thus limiting significant negative impact.
• Employees, customers, suppliers, and creditors are unlikely to be directly impacted by this specific insider transaction.

Key Dates

Recommendation

The reported sales by a director, totaling 600 shares, were executed under a Rule 10b5-1 plan. This suggests a pre-scheduled transaction for personal financial planning rather than a signal of diminished confidence in the company's prospects. Given the small volume relative to the director's total holdings and the pre-planned nature, this event alone does not warrant a change from a 'hold' recommendation. Investors should continue to monitor broader company fundamentals and market conditions.

Keywords

PEBK, Peoples Bancorp of North Carolina, James S. Abernethy, Insider Sale, Form 4, Director Transaction, Stock Sale, Beneficial Ownership, 10b5-1 Plan