FIBK insider sales at $32.06 and $32.14; indirect holdings updated

Rhea-AI Filing Summary

First Interstate BancSystem (FIBK) insider filing reports indirect ownership changes and open‑market sales by entities associated with a Director and 10% Owner.

Three entries coded “W” added 30,432, 45,154, and 67,482 shares at $0 to indirect holdings on 09/09/2025, 09/10/2025, and 09/17/2025. Subsequent sales included 20,000 shares at $32.06 on 11/10/2025 by Awe' LLC and 15,000 shares at $32.14 on 11/11/2025 by Bench Ranch LLC.

Post‑transaction balances show Awe' LLC at 47,482 shares and Bench Ranch LLC at 30,154 shares. An indirect balance of 1,445,068 shares is listed with detailed footnotes describing trusts, a limited partnership, and family accounts. Footnotes note possible “group” status among certain stockholders, with beneficial ownership disclaimed except to the extent of pecuniary interest.

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

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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^*

HEYNEMAN JOHN M JR

(Last) (First) (Middle)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/09/2025

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	09/09/2025		W		30,432	A	$0	1,445,068	I	see footnote(1)(2)
Common Stock	09/10/2025		W		45,154	A	$0	45,154	I	By Bench Ranch LLC(1)
Common Stock	09/17/2025		W		67,482	A	$0	67,482	I	By Awe' LLC(1)
Common Stock	11/10/2025		S		20,000	D	$32.06	47,482	I	By Awe' LLC(1)
Common Stock	11/11/2025		S		15,000	D	$32.14	30,154	I	By Bench Ranch LLC(1)

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. 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 John Heyneman, Jr. with the indication of direct or indirect ownership in Table I being made from John Heyneman, Jr.'s perspective. The nature of beneficial ownership is described in detail by footnote for all reporting persons.

2. Composed of 180,432 shares held of record by John M Heyneman Jr. Trust, 85,836 shares held of record by Riki Rae Scott Davidson & John Heyneman Jr., Trustees FBO Riki Scott Davidson Exemption Trust Under the Scott Family 1996 Trust, 85,836 shares held of record by Rae Ann Morss & John Heyneman Jr., Trustees FBO Rae Ann Morss Exemption Trust Under the Scott Family 1996 Trust, 1,085,792 shares held of record by Towanda Investments Limited Partnership, 4,552 shares held of record by John Heyneman, Jr.'s spouse, 1,095 shares held of record by John Heyneman, Jr.'s daughter, 1,215 shares held of record by John Heyneman, Jr.'s son Quinn, and 310 shares held of record by John Heyneman, Jr.'s son Bae-John.

Remarks:

	/s/ Kirk D. Jensen, Attorney-in-Fact for Reporting Person	11/12/2025
	JOHN M HEYNEMAN JR. TRUST, By**	11/12/2025
	RAE ANN MORSS & JOHN HEYNEMAN JR., TRUSTEES FBO RAE ANN MORSS EXEMPTION TRUST UNDER THE SCOTT FAMILY 1996 TRUST, By:**	11/12/2025
	RIKI RAE SCOTT DAVIDSON & JOHN HEYNEMAN JR., TRUSTEES FBO RIKI SCOTT DAVIDSON EXEMPTION TRUST UNDER THE SCOTT FAMILY 1996 TRUST, By:**	11/12/2025
	TOWANDA INVESTMENTS LIMITED PARTNERSHIP, By:**	11/12/2025
	**By: /s/ Timothy Leuthold, Attorney-in-Fact for Reporting Person	11/12/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider activity was reported for FIBK?

The filing shows three “W” additions of 30,432, 45,154, and 67,482 shares at $0, plus sales of 20,000 shares at $32.06 and 15,000 shares at $32.14.

Who is the reporting person in the FIBK Form 4?

The reporting person is a Director and 10% Owner, with holdings reported through various indirect entities.

What are the post-transaction holdings for Awe' LLC and Bench Ranch LLC?

After the reported trades, Awe' LLC held 47,482 shares and Bench Ranch LLC held 30,154 shares.

Were the transactions part of open market sales?

Yes. Sales occurred on 11/10/2025 at $32.06 (20,000 shares) and on 11/11/2025 at $32.14 (15,000 shares).

What does the 'W' transaction code indicate here?

Entries coded “W” reflect acquisitions at $0 on 09/09/2025, 09/10/2025, and 09/17/2025, increasing indirect holdings.

What is the larger indirect holding noted in the filing?

An indirect balance of 1,445,068 shares is listed, with footnotes detailing trusts, a limited partnership, and family accounts.

Does the filing mention group status or ownership disclaimers?

Footnotes state the parties may be deemed a group and disclaim beneficial ownership except to the extent of pecuniary interest.