First Bancorp (FBNC) CFO has shares withheld to cover taxes

Rhea-AI Filing Summary

FIRST BANCORP /NC/ Chief Financial Officer Elizabeth B. Bostian reported a routine tax-withholding share disposition. On June 29, 2026, 1,887 shares of restricted stock were withheld by the company at $63.53 per share to satisfy income taxes on previously granted shares.

Following this tax-withholding disposition, she directly holds 16,961 shares related to that restricted stock position. The filing also reflects additional direct holdings of common stock and common stock in a 401K plan, indicating she retains a substantial equity stake in First Bancorp.

Insights

Equity compensation and insider-transactions analyst

Routine tax withholding on vested shares; no open-market sale signal.

The Form 4 for FIRST BANCORP /NC/ shows CFO Elizabeth B. Bostian had 1,887 restricted shares withheld at $63.53 per share to cover income taxes on previously granted stock. The footnote confirms this was a tax-settlement mechanism, not a market trade.

Because code F transactions are administrative and do not reflect a buy or sell decision, the informational value for investors is limited. After this event, Bostian still directly holds 16,961 shares from that award, alongside other common-stock and 401K holdings, suggesting this is a routine compensation-related adjustment rather than a change in her equity exposure.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Bostian Elizabeth B

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Tax Withholding	Restricted Stock	1,887	$63.53	$120K
holding	Common Stock	--	--	--
holding	Common Stock in 401K Plan	--	--	--

Holdings After Transaction: Restricted Stock — 16,961 shares (Direct, null); Common Stock — 20,472 shares (Direct, null); Common Stock in 401K Plan — 1,002.978 shares (Direct, null)

Footnotes (1)

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Key Figures

Shares withheld for taxes: 1,887 shares Withholding price: $63.53 per share Restricted shares after event: 16,961 shares +2 more

5 metrics

Shares withheld for taxes 1,887 shares Restricted stock withheld for income taxes on 2026-06-29

Withholding price $63.53 per share Value used for tax-withholding disposition of restricted stock

Restricted shares after event 16,961 shares Direct holdings following the tax-withholding disposition

Common stock in 401K 1,002.978 shares Direct common stock holdings in 401K plan

Other common stock holdings 20,472 shares Direct common stock position reported as of 2026-06-29

Key Terms

Restricted Stock, tax-withholding disposition, 401K Plan, Form 4

4 terms

Restricted Stock financial

"Restricted Stock transaction with 1,887 shares at $63.5300 per share"

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

tax-withholding disposition financial

"transaction_action: tax-withholding disposition under transaction code F"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

401K Plan financial

"Common Stock in 401K Plan with 1,002.9780 shares following transaction"

A 401(k) plan is an employer-sponsored retirement savings account that lets workers set aside part of their paycheck into investments, often with tax breaks and sometimes with matching contributions from the employer. Think of it as a workplace piggy bank that grows through employee contributions, optional company top-ups, and market returns; it matters to investors because it shapes household retirement security, drives large flows of money into public markets, and affects a company’s compensation costs and ability to attract and keep talent.

Form 4 regulatory

"shares previously granted and reported on Form 4"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 11:39 AM Accepted by SEC EDGAR 07/02/2026 - 11:39 AM Learn about SEC filing dates

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)

300 WENTWORTH DRIVE

(Street)

GREENSBORO NORTH CAROLINA 27408

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/29/2026

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

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

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

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	06/29/2026		F		1,887(1)	D	$63.53	16,961	D
Common Stock								20,472	D
Common Stock in 401K Plan								1,002.978	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. Represents shares withheld by the Company to satisfy income taxes on shares previously granted and reported on Form 4.

	/s/ Anna L. Miller, Attorney in-fact	07/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did First Bancorp (FBNC) CFO Elizabeth B. Bostian report in this Form 4?

CFO Elizabeth B. Bostian reported a tax-related share disposition. The company withheld 1,887 restricted shares at $63.53 per share to pay income taxes on previously granted stock, a routine equity-compensation event rather than an open-market sale or purchase.

How many First Bancorp (FBNC) shares were withheld for taxes in this filing?

The filing shows 1,887 restricted shares withheld to satisfy income taxes. These shares were valued at $63.53 each and reflect code F, meaning payment of a tax liability using stock instead of a cash payment, not a discretionary market sale by the CFO.

Does this First Bancorp (FBNC) Form 4 indicate the CFO sold shares on the open market?

No, the Form 4 does not show an open-market sale. The 1,887-share disposition is coded F, indicating shares were withheld by the company to cover income taxes on previously granted stock, a standard administrative step in equity compensation plans.

What are CFO Elizabeth B. Bostian’s reported First Bancorp (FBNC) holdings after the tax withholding?

After the tax-withholding event, she directly holds 16,961 shares tied to the restricted stock entry. The Form 4 also lists 1,002.978 shares of common stock in a 401K plan and an additional 20,472 common shares, showing a continuing, meaningful equity position in the company.

What does transaction code F mean in the First Bancorp (FBNC) Form 4?

Transaction code F means shares were used to pay an exercise price or tax liability. In this case, 1,887 restricted shares were withheld by the company at $63.53 to satisfy income taxes on previously granted stock, not to execute a voluntary sale by the insider.