First Bancorp (FBNC) CFO reports restricted shares withheld for taxes

Rhea-AI Filing Summary

First Bancorp (FBNC) Chief Financial Officer Elizabeth B. Bostian reported an automatic share withholding related to equity compensation. On January 5, 2026, 396 shares of restricted stock were withheld at $51.96 per share to cover estimated income taxes upon vesting of restricted shares, rather than being sold in the open market. After this tax withholding, she directly beneficially owned 13,062 shares of restricted stock, plus 18,224.38 shares of common stock and 995.4 shares of common stock in a 401(k) plan, all held directly.

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

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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^*

Bostian Elizabeth B

(Last) (First) (Middle)

300 WENTWORTH DRIVE

(Street)

GREENSBORO NC 27408

(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)
01/05/2026

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	01/05/2026	01/07/2026	F		396(1)	D	$51.96	13,062	D
Common Stock								18,224.38	D
Common Stock in 401K Plan								995.4	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 that were withheld to satisfy estimated income taxes on vesting Restricted Shares.

	/s/ Anna L. Miller, Attorney in-fact	01/07/2026
	** 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.

FAQ

What insider transaction did FBNC CFO Elizabeth B. Bostian report?

Elizabeth B. Bostian, Chief Financial Officer of First Bancorp (FBNC), reported that 396 shares of restricted stock were withheld on January 5, 2026 at $51.96 per share to satisfy estimated income taxes on vesting restricted shares.

Was the FBNC CFO’s Form 4 transaction an open market sale?

No. The Form 4 states that the 396 restricted shares were withheld to satisfy estimated income taxes on vesting restricted shares, meaning they were used for tax withholding rather than sold in the open market.

How many FBNC restricted stock shares does the CFO own after this transaction?

Following the reported tax withholding of 396 restricted stock shares, Elizabeth B. Bostian directly beneficially owned 13,062 shares of restricted stock.

What is the FBNC CFO’s total common stock holding reported on this Form 4?

The filing lists 18,224.38 shares of common stock held directly and 995.4 shares of common stock held directly in a 401(k) plan, in addition to her restricted stock holdings.

What does transaction code "F" mean in the FBNC CFO’s Form 4?

The Form 4 uses transaction code "F" for the restricted stock entry, which in this context corresponds to shares withheld to satisfy tax obligations on vesting restricted shares, as explained in the footnote.

Is the FBNC CFO’s ownership reported as direct or indirect?

All reported holdings for Elizabeth B. Bostian in this Form 4, including restricted stock, common stock, and common stock in a 401(k) plan, are listed as held with direct ownership.