Company: FCNCB
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000798941-25-000050
Chunk: 266

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 4
Chunk 266
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87 457,350 $3,711 

(1) Represents the final repurchases completed under the 2024 SRP.

On July 25, 2024, BancShares announced that the Board authorized the 2024 SRP, which allowed BancShares to repurchase shares of its Class A common stock in an aggregate amount up to $3.5 billion through December 31, 2025. The remaining authorized amount was utilized for share repurchases during the third quarter of 2025 until the 2024 SRP was completed at the end of August 2025.

On July 25, 2025, BancShares announced that the Board authorized the new 2025 SRP, which allows BancShares to repurchase shares of its Class A common stock in an aggregate amount up to $4.0 billion. Repurchases under the 2025 SRP commenced in September 2025 upon completion of the 2024 SRP at the end of August 2025 and may be made through December 31, 2026. 

Under the authorized 2025 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.