Form 4: Director Snipe Defers Compensation into FCCO Stock Units

First Community Corp director Alexander Snipe Jr. deferred compensation into 219 additional stock units, increasing his total beneficial ownership.

Summary

• Director Alexander Snipe Jr. of First Community Corporation (FCCO) deferred compensation in the form of 219 deferred stock units.
• The deferral was executed under the First Community Corporation Amended and Restated Non-Employee Director Deferred Compensation Plan.
• The units were credited based on the fourth quarter 2025 deferred compensation amount and the common stock consolidated closing bid price of $29.65 on December 31, 2025.
• Following this transaction, Mr. Snipe directly beneficially owns 54,697 shares, which includes 46,379 deferred stock units.
• The total deferred stock units include 269 units credited as dividend equivalents during the fourth quarter of 2025.
• Shares of First Community Corporation common stock will be issued on a one-for-one basis in respect of deferred stock units upon distribution from the Plan.
• Mr. Snipe also indirectly owns 3,927 shares through Glory Communications, Inc.

Sentiment

Score: 7

Explanation: The deferral of compensation into company stock units by a director indicates strong alignment of interests with shareholders and confidence in the company's long-term performance. This is generally viewed positively as it ties the director's personal financial success directly to the company's stock performance.

Positives

• Director Alexander Snipe Jr. increased his direct beneficial ownership by deferring compensation into 219 additional stock units, further aligning his interests with shareholders.
• The deferred stock units receive dividend equivalents, which will further increase the director's stake in the company over time.
• The total direct beneficial ownership, including deferred stock units, now stands at 54,697 shares, demonstrating a significant and growing stake in the company.

Future Outlook

The filing does not contain specific forward-looking statements or guidance beyond the nature of the deferred stock units converting to common stock upon distribution from the Plan.

Industry Context

This Form 4 filing details a routine insider transaction where a director defers compensation into company stock units. Such actions are common across the banking and financial services industry, often used to align management and director interests with those of shareholders, promoting long-term commitment and performance.

Comparison to Industry Standards

• Deferring director compensation into company stock is a standard practice in corporate governance, particularly within the financial sector, aligning director incentives with shareholder value creation.
• Many publicly traded banks and financial institutions, such as Truist Financial Corporation or Synovus Financial Corp., utilize similar non-employee director deferred compensation plans to encourage long-term ownership and commitment from their board members.
• The specific terms, such as the one-for-one conversion rate and dividend equivalents, are typical for such plans, reinforcing a commitment to shareholder returns.

Corporate Governance

Related Party Transactions

• The transaction involves a director (Alexander Snipe Jr.) deferring compensation into company stock units under an established plan, which is a standard related party transaction within the scope of director compensation.

Stakeholder Impact

• Shareholders: Increased alignment of director interests with shareholders, potentially leading to more shareholder-friendly decisions.

Next Steps

• Shares of First Community Corporation common stock will be issued on a one-for-one basis in respect of deferred stock units upon a distribution from the Plan.

Key Dates

Recommendation

This Form 4 filing details a routine insider transaction where a director defers compensation into company stock units. While it signals confidence and aligns director interests with shareholders, it is not a significant market-moving event that would warrant a change in investment recommendation based solely on this filing. Investors should consider broader financial performance and market conditions.

Keywords

First Community Corporation, FCCO, Alexander Snipe Jr., Director Compensation, Deferred Stock Units, Insider Transaction, Form 4, Beneficial Ownership, Stock Plan, Corporate Governance