Form 4: FCCO CFO Jordan Reports RSU Vesting, Tax Withholding

First Community Corporation's EVP and CFO, Donald Shawn Jordan, reported the vesting of 1,870 restricted stock units and the subsequent withholding of 929 shares for tax obligations.

Summary

• Donald Shawn Jordan, EVP and CFO of First Community Corporation (FCCO), reported changes in his beneficial ownership.
• On February 21, 2026, 1,870 time-based restricted stock units (RSUs) granted on February 21, 2023, vested under the 2021 Omnibus Equity Incentive Plan.
• These vested RSUs resulted in the acquisition of 1,870 shares of common stock at a price of $0.
• Following this acquisition, Jordan's direct beneficial ownership of common stock increased to 9,728 shares.
• Concurrently, 929 shares of common stock were disposed of at a price of $30.62 to satisfy tax withholding obligations related to the RSU vesting.
• After the tax withholding, Jordan's direct beneficial ownership of common stock is 8,799 shares.
• Jordan still holds 3,793 restricted stock units, with 2,212 units scheduled to vest on February 20, 2027, and 1,581 units on February 18, 2028.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a routine and expected executive compensation event. The vesting of RSUs is a positive for the executive and indicates continued alignment with shareholder interests, while the tax withholding is a standard procedural step.

Positives

• EVP and CFO Donald Shawn Jordan received 1,870 shares of common stock through the vesting of restricted stock units, indicating continued long-term incentive alignment with shareholder interests.
• The vesting of these units is part of a pre-established equity incentive plan, reflecting a structured approach to executive compensation.

Negatives

• 929 shares were withheld to cover tax obligations, reducing the net shares received by the executive. This is a standard practice but represents a reduction in the immediate beneficial ownership.

Future Outlook

The filing indicates future vesting events for Donald Shawn Jordan's restricted stock units, with 2,212 units scheduled to vest on February 20, 2027, and an additional 1,581 units on February 18, 2028. These future vestings represent continued long-term equity incentives for the executive.

Industry Context

StockSavvy.ai notes that the vesting of restricted stock units and subsequent tax withholding is a routine event in executive compensation across the financial services industry. This type of transaction aligns executive incentives with long-term company performance, a common practice among regional banks and community corporations like FCCO. It does not indicate any specific broader industry trends beyond standard compensation structures.

Comparison to Industry Standards

• The use of restricted stock units (RSUs) as a component of executive compensation is a standard practice across the financial industry, comparable to compensation structures at peer regional banks such as SouthState Corporation (SSB) or United Community Banks (UCBI).
• The cliff vesting schedule, where a block of units vests on a specific future date, is a common method to encourage long-term retention and performance, similar to equity plans observed at companies like Truist Financial (TFC) or PNC Financial Services (PNC).
• The withholding of shares to cover tax obligations upon vesting is a universal practice for equity awards, ensuring compliance with tax laws and is consistent with how such transactions are handled at virtually all publicly traded companies globally.

Related Party Transactions

• The vesting and disposition of shares by an executive officer (Donald Shawn Jordan) constitute a related party transaction, as it involves an insider's compensation and ownership changes.

Stakeholder Impact

• Shareholders: The vesting of RSUs aligns executive incentives with long-term shareholder value. The disposition of shares for tax purposes is a routine event and does not significantly impact the overall share structure.
• Employees: This filing highlights the company's equity incentive plan, which can be a positive signal for employee retention and motivation, particularly for those participating in similar plans.
• Management: Donald Shawn Jordan's beneficial ownership of common stock and remaining RSUs demonstrates his continued stake in the company's performance.

Next Steps

• 2,212 restricted stock units are scheduled to cliff vest on February 20, 2027.
• 1,581 restricted stock units are scheduled to cliff vest on February 18, 2028.

Key Dates

Recommendation

This Form 4 filing details a routine, pre-scheduled executive compensation event involving the vesting of restricted stock units and subsequent tax withholding. It does not provide new information regarding the company's operational performance, financial health, or strategic direction that would warrant a change in investment recommendation. The transaction is expected and reflects standard executive incentive alignment.

Keywords

First Community Corporation, FCCO, Donald Shawn Jordan, EVP and CFO, Restricted Stock Units, RSU vesting, Insider transaction, Executive compensation, Equity incentive plan, Form 4, Beneficial ownership, Stock withholding, SEC filing