[Form 4] First Bancorp/NC Insider Trading Activity

Rhea-AI Filing Summary

First Bancorp (FBNC) – Form 4 filing, 25 Jun 2025

CEO and Director Richard H. Moore reported the grant of 13,058 shares of common stock on 24 Jun 2025 under the company’s Long-Term Incentive Plan (LTIP). The award, coded “A” for acquisition, carries a stated fair-market price of $42.12 per share, implying an approximate grant value of $0.55 million.

Vesting & ownership

• The shares vest on 24 Jun 2028 (three-year cliff).
• Post-grant, Moore’s direct holdings rise to 138,405.0394 shares; indirect holdings remain 14,338.18 shares in the company 401(k).

Key observations for investors

• No shares were sold; the transaction purely increases insider ownership.
• The LTIP award aligns management incentives with shareholder value but does not represent an open-market purchase.
• Potential dilution from equity compensation appears immaterial relative to FBNC’s ~30 million outstanding shares (figure not provided in filing but relevant context for scale).

The filing signals ongoing retention of the CEO and reinforces alignment, yet the market is unlikely to view a routine, time-vested grant as materially price-moving in the near term.

Positive

• CEO ownership increases by 13,058 shares, signaling continued alignment with shareholders.
• No insider sales reported, which can be read as confidence in FBNC’s prospects.

Negative

• Grant is time-based, not performance-based, offering limited direct linkage to value creation.
• Equity issuance, though small, adds incremental dilution to existing shareholders.

Insights

Financial Analyst

TL;DR: Routine LTIP grant boosts CEO stake by 13k shares; no sales, limited immediate price impact.

The Form 4 shows Richard H. Moore receiving 13,058 FBNC shares valued at roughly $550 k, lifting his direct ownership to ~138 k shares. Because the transaction is classified as an LTIP award, cash did not change hands and there is no open-market signal of valuation. Nevertheless, higher insider ownership moderately aligns management with shareholders. The three-year vesting schedule serves as a retention tool and spreads dilution over time; with FBNC’s share count in the tens of millions, dilution is negligible. From a valuation standpoint, the filing does not alter earnings, cash flow, or guidance, so I view it as neutral to slightly positive for sentiment but not materially impactful for valuation models.

Corporate Governance Expert

TL;DR: Standard equity compensation reinforces alignment; governance risk minimal.

The grant is issued under an approved LTIP, follows a transparent Schedule 14A framework, and vests over three years—consistent with best-practice governance. No accelerated vesting or performance waiver exists, mitigating over-payment risk. Insider accumulation without disposal supports confidence in the bank’s prospects. Because awards are routine and modest relative to market cap, I categorize the disclosure as non-impactful for governance red-flags screening.

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^*

MOORE RICHARD H

(Last) (First) (Middle)

1917 LEWIS CIRCLE

(Street)

RALEIGH NC 27608

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive 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		13,058(1)	A	$42.12	138,405.0394	D
Common Stock								14,338.18	I	401(k) 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	06/25/2025
	** 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.
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FAQ

How many FBNC shares did CEO Richard H. Moore acquire?

He received 13,058 shares of First Bancorp common stock.

Was the transaction an open-market purchase?

No. It was an LTIP share grant recorded under transaction code "A".

What is the vesting schedule for the new shares?

The shares vest on 24 Jun 2028.

What is Moore’s total FBNC ownership after the grant?

Direct: 138,405.0394 shares; Indirect (401(k)): 14,338.18 shares.

What is the implied value of the award?

At the reported $42.12 price, the grant is worth roughly $550,000.