First Bancorp (FBNC) Form 4: CFO Covers Taxes With 894 Shares

Rhea-AI Filing Summary

First Bancorp (FBNC) – Form 4 insider transaction. Chief Financial Officer Elizabeth B. Bostian reported a single transaction dated 06/20/2025 and filed on 06/25/2025. The transaction is coded “F,” indicating shares were withheld by the issuer solely to satisfy tax-withholding obligations that arose upon the vesting of restricted stock.

Key details:

• Shares withheld: 894 restricted shares
• Price per share: $40.57
• Total value: approximately $36,270
• Post-transaction direct ownership: 13,535.38 FBNC common shares

Because the disposition was for tax purposes and equals roughly 6.6% of her disclosed holdings, it does not represent an active sale in the open market and is generally viewed as routine. No derivative securities were involved, and no 10b5-1 trading plan was indicated.

The filing supplies no new financial or operational information about First Bancorp; therefore, the market impact is expected to be minimal.

Insights

Securities Analyst

TL;DR: Routine tax-withholding; minimal impact on FBNC valuation.

The Form 4 shows CFO Elizabeth Bostian surrendered 894 restricted shares at $40.57 on 06/20/25 to cover taxes on vesting. Her direct stake now stands at 13,535 shares, signalling continued alignment with shareholders. Transaction code “F” and absence of open-market sales suggest no bearish intent. For a bank with 40 million+ shares outstanding, this sub-$40k adjustment is immaterial to float or insider-sentiment metrics. I therefore classify the disclosure as neutral and not price-moving.

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
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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)
06/20/2025

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
Restricted Stock	06/20/2025	06/23/2025	F		894(1)	D	$40.57	13,535.38	D

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. Shares Used to Pay Taxes

	/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

How many First Bancorp (FBNC) shares did CFO Elizabeth Bostian dispose of?

894 restricted shares were withheld to pay taxes.

What was the transaction date reported in the FBNC Form 4 filing?

The shares were withheld on 06/20/2025.

At what price were the FBNC shares valued for the tax-withholding transaction?

The price recorded was $40.57 per share.

How many FBNC shares does the CFO own after the reported transaction?

Elizabeth Bostian’s direct ownership is 13,535.38 shares following the withholding.

What does transaction code "F" mean in this Form 4?

Code F denotes shares withheld to satisfy tax obligations upon vesting of equity awards.