FBNC Accounting Chief Gets Long-Term Incentive Stock Grant

Rhea-AI Filing Summary

First Bancorp (FBNC) filed an amended Form 4 on 28 June 2025 disclosing a stock grant to Chief Accounting Officer Thomas Brent Hicks.

On 24 June 2025, Hicks was awarded 1,496 shares of common stock (Transaction Code “A”) at a stated price of $42.12 per share, implying an estimated grant value of roughly $63,000. The shares were issued under the company’s Long-Term Incentive Plan and will vest in full on 24 June 2028.

After the grant, Hicks’ direct ownership increased to 3,200.37 shares while his indirect holdings in the 401(k) plan remain at 1,133.181 shares. No shares were sold, and the Rule 10b5-1 checkbox was left blank, indicating the transaction was not executed under a pre-arranged trading plan.

The Form 4/A amends the original submission dated 25 June 2025 but does not change the economic terms of the transaction.

Positive

• Officer acquired 1,496 shares (~$63k) under the Long-Term Incentive Plan, increasing direct ownership by approximately 47%.

Negative

• None.

Insights

Insider Transaction Analyst

TL;DR: Small insider grant lifts ownership; positive signal but immaterial to shareholders.

The amended Form 4 shows Hicks receiving 1,496 LTIP shares, boosting his direct stake by roughly 47% to 3,200 shares. While insider acquisitions generally align management interests with investors, the ~$63k value represents a negligible fraction of First Bancorp’s market capitalization, so it is unlikely to influence valuation or liquidity. The four-year vesting period signals long-term retention but does not alter near-term fundamentals. Overall impact: minimal, though directionally positive for corporate governance.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Hicks Thomas Brent

Role Chief Accounting Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,496	$42.12	$63K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 3,200.37 shares (Direct); Common Stock — 1,133.181 shares (Indirect, 401k Plan)

Footnotes (1)

1. [object Object]

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Hicks Thomas Brent

(Last) (First) (Middle)

141 BAYHILL DRIVE

(Street)

ADVANCE NC 27006

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
FIRST BANCORP /NC/ [ FBNC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
06/24/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
06/25/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/24/2025		A		1,496(1)	A	$42.12	3,200.37	D
Common Stock								1,133.181	I	401k Plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents shares of common stock granted under the Company's Long Term Incentive Plan. The shares vest on June 24, 2028.

	/s/ Anna L. Miller, Attorney in-fact	06/27/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many FBNC shares did Chief Accounting Officer Thomas Brent Hicks acquire on June 24 2025?

He was granted 1,496 shares of FBNC common stock.

What is the approximate value of the FBNC share grant disclosed in the Form 4/A?

At the stated price of $42.12 per share, the grant is worth roughly $63,000.

When will the awarded FBNC shares vest?

The shares will fully vest on June 24 2028.

What is Thomas Brent Hicks’ total FBNC share ownership after the transaction?

He now holds 3,200.37 shares directly and 1,133.181 shares indirectly through the company 401(k) plan.

Was the FBNC insider transaction executed under a Rule 10b5-1 trading plan?

The filing left the Rule 10b5-1 checkbox unchecked, indicating no such plan was used.