Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 283

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 8
Chunk 283
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, results of operations and prospects. 

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

(c) The following table summarizes our monthly Class A common stock repurchase activity during the three months ended March 31, 2025. Subsequent to March 31, 2025, BancShares purchased an additional 120,558 shares of Class A common stock through April 30, 2025. 

Table 56

Issuer Purchases of Class A Common Stock

dollars in millions, except per share dataTotal Number of Class A Shares PurchasedAverage Price Paid per ShareTotal Number of Shares Repurchased as Part of Publicly Announced PlanApproximate Dollar Value of Shares that May Yet be Purchased Under PlanRepurchases from January 1 - 31, 202593,729 $2,166.44 93,729 $1,634 Repurchases from February 1 - 28, 202591,274 2,117.76 91,274 1,441 Repurchases from March 1 - 31, 2025117,680 1,841.20 117,680 1,224 Total302,683 $2,025.22 302,683 $1,224 

On July 25, 2024, BancShares announced that the Board authorized an SRP, which allows BancShares to repurchase shares of its Class A common stock in an aggregate amount up to $3.50 billion through December 31, 2025. 

Under the authorized SRP, shares of BancShares’ Class A common stock may be purchased from time to time on the open market or in privately negotiated transactions, including through a Rule 10b5-1 plan, but the Board’s action does not obligate BancShares to repurchase any minimum or particular number of shares, and repurchases may be suspended or discontinued at any time (subject to the terms of any Rule 10b5-1 plan in effect) without prior notice.

104

Item 5. Other Information.

(c) Director and Officer 10b5-1 Trading Arrangements

During the first quarter of 2025, none of BancShares’ directors or officers adopted or terminated any “Rule 10b5-1 trading arrangement” or any “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408 of Regulation S-K.

Item 6. Exhibits