[Form 4] First Bancorp/NC Insider Trading Activity

Rhea-AI Filing Summary

First Bancorp (FBNC) filed a Form 4 reporting that Chief Accounting Officer Blaise Bea Buczkowski had 486 restricted shares withheld on 06/20/2025 (settled 06/23/2025) under Transaction Code F, which indicates shares surrendered to cover tax liabilities on a vesting event rather than an open-market sale. The shares were valued at $40.57 each, implying a tax-withholding value of roughly $19,700. Following the transaction, the officer’s direct beneficial ownership declined to 89 shares. No derivative securities were involved, and the filing contains no indication of additional trading plans or 10b5-1 arrangements.

Insights

Financial Analyst

TL;DR Officer surrendered 486 shares for taxes; immaterial to FBNC valuation.

The Form 4 shows a routine F-code transaction: restricted stock withheld to satisfy payroll taxes. At roughly $20k in value, the disposal is de minimis relative to First Bancorp’s market capitalization and does not represent a discretionary sale. Post-transaction ownership of only 89 shares signals the officer’s small equity stake, but this is typical for accounting roles and does not materially affect insider-ownership dynamics. Investors should view the filing as compliance-driven with negligible impact on share supply or insider-sentiment metrics.

Corporate Governance Expert

TL;DR Routine tax-withholding; no governance red flags detected.

Rule 16a Form 4 filings are closely watched for potential alignment signals. An F-code transaction, by definition, is non-discretionary and thus carries little signaling value. The small residual holding (89 shares) might suggest limited personal financial exposure by the Chief Accounting Officer, yet this is not uncommon in mid-cap banking institutions where equity incentives skew toward senior executives. No Rule 10b5-1 box was checked, reinforcing that the event was automatic. Overall governance implication: neutral.

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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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^*

Buczkowski Blaise Bea

(Last) (First) (Middle)

266 MANNING SQUARE

(Street)

SOUTHERN PINES NC 28387

(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)
06/20/2025

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		486(1)	D	$40.57	89	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 FBNC shares did the Chief Accounting Officer dispose of?

486 restricted shares were surrendered to cover tax withholding.

What was the transaction price for the FBNC shares?

The shares were valued at $40.57 each during the withholding event.

Does the filing indicate an open-market sale by the officer?

No. Transaction Code F denotes an automatic tax-withholding, not a discretionary sale.

How many FBNC shares does the officer own after the transaction?

Post-transaction direct beneficial ownership stands at 89 shares.

Were any derivative securities reported in the Form 4?

No derivative securities were reported; Table II is blank.