[Form 4] First Interstate BancSystem, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Michael L. Scudder, a Director of First Interstate BancSystem, Inc. (FIBK), acquired 1,879 shares of the company's common stock on 08/27/2025 at a price of $31.93 per share. These shares represent restricted stock units granted under the registrant's 2023 Equity and Incentive Plan and are issuable upon vesting. The restricted stock units vest on June 1, 2026, conditioned on the reporting person's continued service through that date. Following the reported transaction, the reporting person beneficially owns 1,879 shares in a direct ownership form.

Insights

Financial Analyst

TL;DR: Director received 1,879 RSU shares vesting mid-2026, a routine equity award aligning compensation with shareholder outcomes.

The transaction reflects the grant and acquisition of restricted stock units under the company's 2023 equity plan, converting to 1,879 shares at an effective transaction price of $31.93. Because the shares are subject to a time-based vesting condition through June 1, 2026, economic ownership is contingent on continued service. The reported amount is modest in absolute terms and does not on its own indicate a material shift in insider holdings or company capitalization.

Corporate Governance Expert

TL;DR: This is a standard director equity award with time-based vesting; it aligns interests but is not materially transformative.

The disclosure shows compliance with Section 16 reporting for a director-level recipient of RSUs under the registrant's incentive plan. Vesting tied to continuous service is typical for retention and alignment. The clear disclosure of transaction type, number of shares, vesting date, and ownership form supports transparency in insider compensation reporting.

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^*

SCUDDER MICHAEL L

(Last) (First) (Middle)

401 N. 31ST ST

P.O. BOX 30918

(Street)

BILLINGS MT 59116

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
FIRST INTERSTATE BANCSYSTEM INC [ FIBK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/27/2025

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	08/27/2025		A		1,879(1)	A	$31.93	1,879	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 issuable upon vesting of restricted stock units granted to the reporting person pursuant to the Registrant's 2023 Equity and Incentive Plan. The restricted stock units vest on June 1, 2026, subject to the reporting persons provision of continuous service to the Registrant through the vesting date.

Remarks:

	/s/ Kirk D. Jensen, as attorney in fact for reporting person	08/29/2025
	** 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 shares did Michael L. Scudder acquire according to the Form 4 for FIBK?

The Form 4 reports acquisition of 1,879 shares of First Interstate BancSystem, Inc. common stock.

What was the transaction price per share reported on the Form 4 (FIBK)?

The reported price was $31.93 per share for the transaction dated 08/27/2025.

When do the restricted stock units reported on the FIBK Form 4 vest?

The restricted stock units vest on June 1, 2026, subject to the reporting person's continuous service through that date.

What is Michael L. Scudder's relationship to First Interstate BancSystem, Inc. as disclosed?

The Form 4 identifies Michael L. Scudder as a Director of the issuer.

Does the Form 4 indicate whether the beneficial ownership is direct or indirect?

Yes. The Form 4 indicates the ownership form following the transaction is Direct.