Company: FCNCB
Filing Date: 2025-07-25
Form Type: 8-K
Source: 0000798941-25-000034
Chunk: 2

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-07-25
Form: 8-K
Item: Item 8.01
Chunk 2
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Item 8.01. Other Events.

On July 25, 2025, BancShares announced that its Board of Directors (the “ Board”) had authorized a share repurchase program (the “2025 SRP”), which will allow BancShares to repurchase shares of its Class A common stock in an aggregate amount up to $4.0 billion through 2026. Repurchases of BancShares’ Class A common stock under the 2025 SRP may commence upon completion of BancShares’ share repurchase program announced on July 25, 2024 (the “2024 SRP”).

Under the 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.

The authorization to repurchase Class A common stock will be utilized at management’s discretion. The actual timing and amount of Class A common stock that may be repurchased under the 2025 SRP will depend on a number of factors, including the terms of any Rule 10b5-1 plan then in effect, price, general business and market conditions, regulatory requirements, and alternative investment opportunities or capital needs. Information regarding share repurchases will be available in BancShares’ periodic reports on Form 10-Q and Form 10-K filed with the Securities and Exchange Commission (the “ Commission”) as required by the applicable rules of the Exchange Act.