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FIRST INTERSTATE BANCSYSTEM INC Director's Dealing 2010

May 11, 2010

31290_dirs_2010-05-11_2d26b5be-5805-4453-a6bc-9733a335ba4c.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FIRST INTERSTATE BANCSYSTEM INC (N/A)
CIK: 0000860413
Period of Report: 2010-05-07

Reporting Person: EBZERY WILLIAM B (Director)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2010-05-07 Class A Common Stock A 1414 $15.91 Acquired 105250 Indirect

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2010-05-07 Stock Options $15.91 A 1972 Acquired 2020-05-07 Class A Common Stock (1972) Direct

Footnotes

F1: On March 5, 2010, the Company's shareholders approved proposals to recapitalize the Company's existing common stock. The recapitalization included, among other things, a redesignation of existing common stock as Class B common stock and the creation of a new class of common stock designated as Class A common stock, which is listed on the NASDAQ stock market under the symbol "FIBK". All stock and stock option awards made subsequent to the recapitalization are Class A common shares.

F2: Issued in lieu of cash payment for annual Board of Director retainer fee.

F3: Stock options granted at the discretion of the Compensation Committee of the Board of Directors for no consideration. 100% vested on date of grant.