---
schema_version: "secwatch.filing_event.v1"
accession: "0000811589-24-000027"
form_type: "8-K"
ticker: "FBNC"
cik: "0000811589"
company_name: "FIRST BANCORP /NC/"
filed_at: "2024-05-03T23:59:59+00:00"
generated_at: "2026-06-02T23:33:57.847207+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.15
confidence: "high"
source: SEC EDGAR
---

# First Bancorp shareholders elect all 15 directors, approve 2024 equity plan narrowly

## Summary
- All 15 director nominees elected; James Crawford (6.4M withheld) and Suzanne DeFerie (12.5M withheld) had notable opposition.
- Ratification of BDO USA as auditor passed with 34.5M for, 113K against.
- Say-on-pay approved: 28.6M for, 1.2M against.
- Adoption of the First Bancorp 2024 Equity Plan passed narrowly: 16.3M for, 13.4M against.

## SEC filing metadata
- accession: 0000811589-24-000027
- form_type: 8-K
- ticker: FBNC
- cik: 0000811589
- company_name: FIRST BANCORP /NC/
- filed_at: 2024-05-03T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.15
- confidence: high
- sec_items: 5.07
- EDGAR index: https://www.sec.gov/Archives/edgar/data/811589/000081158924000027/0000811589-24-000027-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/811589/000081158924000027/fbnc-20240502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000811589-24-000027
- JSON: https://secwatch.observer/filing/0000811589-24-000027.json
- Plain text: https://secwatch.observer/filing/0000811589-24-000027.txt

## Key facts
- Shareholder Votes
  FIRST BANCORP /NC/ shareholders approved To ratify the appointment of BDO USA, LLP as the independent auditors of the Company for 2024. at the 2024-05-02 meeting.
  - Proposal: auditor ratification
  - Outcome: passed
  - Meeting: 2024-05-02
  source text: (ii) ratified the appointment of BDO USA, LLP as the independent auditors of the Company for 2024;
  evidence_url: https://www.sec.gov/Archives/edgar/data/811589/000081158924000027/0000811589-24-000027-index.htm
- Shareholder Votes
  FIRST BANCORP /NC/ shareholders approved To adopt a new equity based incentive plan, entitled the First Bancorp 2024 Equity Plan. at the 2024-05-02 meeting.
  - Proposal: equity plan
  - Outcome: passed
  - Meeting: 2024-05-02
  source text: t" Shares Withheld Shares Abstained Broker Non-Votes Proposal 1: To elect 15 nominees to the Board of Directors to serve until the 2025 annual meeting of shareholders, or until their successors are elected and qualified Mary Clara Capel 28,915,603 — 948,906 — 4,800,906 James C. Crawford, III 23,481,671 — 6,382,838 — 4,800,906 Suzanne S. DeFerie 17,338,104 — 12,526,405 — 4,800,906 Abby J.
  evidence_url: https://www.sec.gov/Archives/edgar/data/811589/000081158924000027/0000811589-24-000027-index.htm
- Shareholder Votes
  FIRST BANCORP /NC/ shareholders approved To approve, on a non-binding advisory basis, the compensation paid to the Company’s named executive officers (“Say-on-Pay”). at the 2024-05-02 meeting.
  - Proposal: say on pay
  - Outcome: passed
  - Meeting: 2024-05-02
  source text: (iii) approved, on a non-binding advisory basis, the compensation paid to the Company’s named executive officers (“Say-on- Pay”);
  evidence_url: https://www.sec.gov/Archives/edgar/data/811589/000081158924000027/0000811589-24-000027-index.htm
- Shareholder Votes
  FIRST BANCORP /NC/ shareholders approved To elect 15 nominees to the Board of Directors to serve until the 2025 annual meeting of shareholders, or until their successors are elected and qualified at the 2024-05-02 meeting.
  - Proposal: director election
  - Outcome: passed
  - Meeting: 2024-05-02
  source text: (i) elected each of the 15 persons listed below under Proposal 1 to serve as a director of the Company until the 2025 annual meeting;
  evidence_url: https://www.sec.gov/Archives/edgar/data/811589/000081158924000027/0000811589-24-000027-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.