Ten percent holder trims stake in First Interstate (FIBK)

Rhea-AI Filing Summary

FIRST INTERSTATE BANCSYSTEM INC insider entities associated with Jonathan R. Scott reported an open-market sale of 53,504 shares of Common Stock at a weighted average price of $35.42 per share. After the sale, they report indirect beneficial ownership of 879,520 shares.

The filing explains that the price reflects multiple trades between $35.13 and $35.70. The indirectly held shares are composed of holdings across several Scott family trusts, an LLC, and shares held by Jonathan Scott’s spouse, and the reporting persons note they may be deemed part of a group sharing beneficial ownership, subject to their pecuniary interest.

Insider Trade Summary

Net Seller: 53,504 shares ($1,895,112)

Net Sell 1 txn

Insider Scott Jonathan R, Jonathan Scott as Trustee of the Jonathan R Scott Trust Dated as of 4/21/04, Harrison William Scott Trust, Harper Grace Scott Trust, Holland Elizabeth Scott Trust, IXL Ltd Liability Co

Role null | null | null | null | null | null

Sold 53,504 shs ($1.90M)

Type	Security	Shares	Price	Value
Sale	Common Stock	53,504	$35.42	$1.90M

Holdings After Transaction: Common Stock — 879,520 shares (Indirect, See Footnote)

Footnotes (1)

1. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.13 to $35.70. The reporting person undertakes to provide to First Interstate BancSystem, Inc., any security holder of First Interstate BancSystem, Inc., or the staff of the Securities and Exchange Commission, upon, request, the full information regarding the number of shares sold at each separate price within the ranges set forth above. Composed of 514,982 shares held of record by Jonathan Scott as Trustee of the Jonathan R Scott Trust Dated as of 4/21/04, 209,678 shares held of record by IXL Limited Liability Company, 36,553 shares held of record by Holland Elizabeth Scott Trust, 36,553 shares held of record by Harper Grace Scott Trust, 36,554 shares held of record by Harrison William Scott Trust and 45,200 shares held of record by Jonathan Scott's spouse. As a result of certain agreements entered into by and among the reporting persons, the Issuer, and certain other stockholders of the Issuer, the reporting persons may be deemed members of a group with the other signatories thereto and may be deemed to share beneficial ownership of the securities reported herein. Each of the reporting persons disclaims beneficial ownership of any such securities, except to the extent of its pecuniary interest therein. The reporting persons expect to file future Forms 4 and 5, if any, together with Jonathan R. Scott with the indication of direct or indirect ownership in Table I and Table II being made from Jonathan R. Scott's perspective. The nature of beneficial ownership is described in detail by footnote for all reporting persons.

Key Figures

Shares sold: 53,504 shares Weighted average sale price: $35.42 per share Post-transaction holdings: 879,520 shares +5 more

8 metrics

Shares sold 53,504 shares Open-market sale of common stock on 2026-04-30

Weighted average sale price $35.42 per share Average price across multiple sale transactions

Post-transaction holdings 879,520 shares Indirect beneficial ownership after reported sale

Trust shares – Jonathan R Scott Trust 514,982 shares Held of record by Jonathan Scott as trustee

LLC holdings – IXL LLC 209,678 shares Held of record by IXL Limited Liability Company

Each Holland & Harper Trust 36,553 shares Held of record by Holland Elizabeth and Harper Grace Scott Trusts

Harrison William Scott Trust 36,554 shares Held of record by Harrison William Scott Trust

Spousal holdings 45,200 shares Held of record by Jonathan Scott’s spouse

Key Terms

weighted average price, beneficial ownership, pecuniary interest, group, +1 more

5 terms

weighted average price financial

"The price reported in column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

beneficial ownership financial

"may be deemed to share beneficial ownership of the securities reported herein."

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"disclaims beneficial ownership of any such securities, except to the extent of its pecuniary interest therein."

group regulatory

"the reporting persons may be deemed members of a group with the other signatories thereto"

indirect beneficial ownership financial

"The nature of beneficial ownership is described in detail by footnote for all reporting persons."

Form 4 Insider Transactions: What Each Field Means →

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^*

Scott Jonathan R

(Last) (First) (Middle)

PO BOX 7113

(Street)

BILLINGS MONTANA 59103

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/30/2026

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

	Form filed by One Reporting Person
X	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
Common Stock	04/30/2026		S		53,504	D	$35.42(1)	879,520	I	See Footnote(2)(3)

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

1. Name and Address of Reporting Person^*

Scott Jonathan R

(Last) (First) (Middle)

PO BOX 7113

(Street)

BILLINGS MONTANA 59103

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Jonathan Scott as Trustee of the Jonathan R Scott Trust Dated as of 4/21/04

(Last) (First) (Middle)

PO BOX 7113

(Street)

BILLINGS MONTANA 59103

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Harrison William Scott Trust

(Last) (First) (Middle)

PO BOX 7113

(Street)

BILLINGS MONTANA 59103

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Harper Grace Scott Trust

(Last) (First) (Middle)

PO BOX 7113

(Street)

BILLINGS MONTANA 59103

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Holland Elizabeth Scott Trust

(Last) (First) (Middle)

PO BOX 7113

(Street)

BILLINGS MONTANA 59103

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

IXL Ltd Liability Co

(Last) (First) (Middle)

PO BOX 7113

(Street)

BILLINGS MONTANA 59103

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.13 to $35.70. The reporting person undertakes to provide to First Interstate BancSystem, Inc., any security holder of First Interstate BancSystem, Inc., or the staff of the Securities and Exchange Commission, upon, request, the full information regarding the number of shares sold at each separate price within the ranges set forth above.

2. Composed of 514,982 shares held of record by Jonathan Scott as Trustee of the Jonathan R Scott Trust Dated as of 4/21/04, 209,678 shares held of record by IXL Limited Liability Company, 36,553 shares held of record by Holland Elizabeth Scott Trust, 36,553 shares held of record by Harper Grace Scott Trust, 36,554 shares held of record by Harrison William Scott Trust and 45,200 shares held of record by Jonathan Scott's spouse.

3. As a result of certain agreements entered into by and among the reporting persons, the Issuer, and certain other stockholders of the Issuer, the reporting persons may be deemed members of a group with the other signatories thereto and may be deemed to share beneficial ownership of the securities reported herein. Each of the reporting persons disclaims beneficial ownership of any such securities, except to the extent of its pecuniary interest therein. The reporting persons expect to file future Forms 4 and 5, if any, together with Jonathan R. Scott with the indication of direct or indirect ownership in Table I and Table II being made from Jonathan R. Scott's perspective. The nature of beneficial ownership is described in detail by footnote for all reporting persons.

	/s/ Kirk D. Jensen, as attorney in fact for reporting person	05/01/2026
	JONATHAN SCOTT AS TRUSTEE OF THE JONATHAN R SCOTT TRUST DATED AS OF 4/21/04, By: +	05/01/2026
	IXL Limited Liability Company, By: +	05/01/2026
	HOLLAND ELIZABETH SCOTT TRUST, By: +	05/01/2026
	HARPER GRACE SCOTT TRUST, By: +	05/01/2026
	HARRISON WILLIAM SCOTT TRUST, By: +	05/01/2026
	+/s/ Timothy Leuthold. Attorney-in-Fact for Reporting Person	05/01/2026
	** 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 insider transaction did entities linked to FIBK’s Jonathan R. Scott report?

Entities associated with Jonathan R. Scott reported selling 53,504 shares of FIRST INTERSTATE BANCSYSTEM INC common stock. The shares were sold in open-market transactions at a weighted average price of $35.42, with individual trades executed between $35.13 and $35.70 per share.

What price did the Scott-related entities receive for the sold FIBK shares?

The reported sale used a weighted average price of $35.42 per share. According to the filing, the 53,504 shares were sold in multiple transactions at prices ranging from $35.13 to $35.70, and detailed trade-level information is available from the reporting person on request.

How many FIBK shares do the Scott-related entities report holding after the sale?

Following the reported sale, the Scott-related reporting persons indicate indirect beneficial ownership of 879,520 FIRST INTERSTATE BANCSYSTEM INC shares. These are held through various vehicles, including family trusts, an LLC, and shares held by Jonathan Scott’s spouse, as detailed in the footnotes.

How are the indirectly held FIBK shares distributed among Scott family entities?

Indirect holdings include 514,982 shares in the Jonathan R Scott Trust, 209,678 shares in IXL Limited Liability Company, 36,553 shares each in Holland Elizabeth Scott Trust and Harper Grace Scott Trust, 36,554 shares in Harrison William Scott Trust, and 45,200 shares held by Jonathan Scott’s spouse.

What do the Scott reporting persons disclose about beneficial ownership of FIBK shares?

The reporting persons state they may be deemed part of a group with other shareholders and may share beneficial ownership of the reported securities. They disclaim beneficial ownership of any such securities except to the extent of their pecuniary interest, as described in the filing’s footnotes.

Were the FIBK insider sales executed under a single price or multiple trades?

The sale was executed through multiple trades at different prices. The filing reports a weighted average price of $35.42 per share, with individual transaction prices ranging from $35.13 to $35.70, and offers to provide detailed breakdowns upon request.