First Bancorp (FBNC) CFO Reports 3.6K-Share LTIP Grant

Rhea-AI Filing Summary

First Bancorp (FBNC) Form 4 filing: Chief Financial Officer Elizabeth B. Bostian reported an equity award of 3,562 common shares on 24 June 2025 at a reference price of $42.12 per share under the company’s Long-Term Incentive Plan. The award vests on 24 June 2028. Following the grant, Bostian’s beneficial ownership rises to 18,762 directly held shares and 737.35 shares held indirectly via a 401(k). No derivative securities were involved in the transaction.

The transaction is coded “A,” indicating an award or grant rather than an open-market purchase, and therefore does not represent immediate cash outlay by the insider. Nonetheless, the additional shares modestly increase executive equity alignment.

Positive

• CFO’s direct holdings rise to 18,762 shares, marginally increasing management-owner alignment.

Negative

• Shares were granted, not purchased, reducing the strength of the insider-confidence signal.

Insights

Financial Analyst

TL;DR: Routine LTIP share grant; minor positive for alignment, limited immediate market signal.

The filing discloses a standard Long-Term Incentive Plan grant to CFO Elizabeth B. Bostian. While 3,562 shares at $42.12 (~$150k notional) is modest relative to FBNC’s ~$1 bn market cap, the increase to 18,762 directly owned shares modestly strengthens executive-shareholder alignment. Because the transaction is a scheduled award with a three-year vesting period, it carries less signaling value than an open-market buy. No derivatives, sales, or multi-insider activity were reported, limiting broader implications. Overall market impact is neutral-to-slightly-positive.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Bostian Elizabeth B

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	3,562	$42.12	$150K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 18,762 shares (Direct); Common Stock — 737.35 shares (Indirect, 401k Shares)

Footnotes (1)

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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^*

Bostian Elizabeth B

(Last) (First) (Middle)

2108 CARLISLE ROAD

(Street)

GREENSBORO NC 27401

(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 Financial Officer

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

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

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		3,562(1)	A	$42.12	18,762	D
Common Stock								737.35	I	401k Shares

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	06/25/2025
	** 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

What did FBNC disclose in the latest Form 4?

CFO Elizabeth B. Bostian received 3,562 shares on 24 Jun 2025 under the LTIP, raising her direct stake to 18,762 shares.

At what price were the FBNC shares valued in the grant?

The reference price reported was $42.12 per share.

When will the granted FBNC shares vest?

The award fully vests on 24 June 2028.

How many FBNC shares does the CFO now own indirectly?

Bostian holds 737.35 shares indirectly through a 401(k) plan.

Does the filing involve any derivative securities?

No; no options or other derivatives were reported in Table II.