Form 4: FCCO Executive Nissen Reports RSU Vesting, Tax Withholding

First Community Corp's EVP and Chief Banking Officer, Ted J Nissen, reported the vesting of restricted stock units and subsequent tax-related share withholding.

Summary

• Ted J Nissen, EVP and Chief Banking Officer of First Community Corp (FCCO), acquired 2,153 shares of common stock on February 21, 2026, due to the vesting of time-based restricted stock units.
• These restricted stock units were granted on February 21, 2023, under the First Community Corporation 2021 Omnibus Equity Incentive Plan, with a grant price of $0.
• Concurrently, 1,113 shares were disposed of at a price of $30.62 per share to satisfy tax withholding obligations related to the RSU vesting.
• Following these transactions, Nissen's direct beneficial ownership of common stock is 36,245 shares.
• Nissen also holds remaining restricted stock units: 2,713 units vesting on February 20, 2027, and 2,435 units vesting on February 18, 2028.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a neutral to slightly positive event, reflecting routine executive compensation mechanics and continued executive alignment with company performance through future equity holdings.

Positives

• The vesting of restricted stock units indicates the successful achievement of performance or time-based criteria set by the company's equity incentive plan.
• The executive's continued holding of a significant number of shares (36,245) and future vesting RSUs (5,148 units) demonstrates ongoing alignment with shareholder interests.

Negatives

• A portion of the vested shares (1,113 shares) was sold to cover tax obligations, which is a common practice but reduces the executive's immediate direct ownership.

Future Outlook

The filing indicates future vesting events for restricted stock units on February 20, 2027 (2,713 units) and February 18, 2028 (2,435 units), suggesting continued long-term incentive alignment for the executive.

Industry Context

StockSavvy.ai notes that the use of restricted stock units (RSUs) as a component of executive compensation is a standard practice across the banking industry, aligning executive incentives with long-term shareholder value creation. The tax withholding upon vesting is also a common and expected event.

Comparison to Industry Standards

• The RSU vesting and tax withholding process reported by First Community Corp aligns with typical executive compensation and equity management practices observed in regional banks and financial institutions.
• Similar RSU programs are common at peers like SouthState Corporation (SSB) or United Community Banks (UCBI), where executives receive equity awards that vest over several years, often with a portion withheld for taxes upon vesting.

Corporate Governance

Related Party Transactions

• The transactions involve an executive (Ted J Nissen) and the company (First Community Corp), which is a standard compensation event under an approved equity incentive plan.

Stakeholder Impact

• Shareholders: The vesting and continued equity holdings of a key executive generally align management's interests with shareholder value. The tax-related sale is a minor, routine event.
• Employees: The equity incentive plan provides a framework for executive compensation, which can influence broader employee incentive structures.

Next Steps

• 2,713 restricted stock units are scheduled to cliff vest on February 20, 2027.
• 2,435 restricted stock units are scheduled to cliff vest on February 18, 2028.

Key Dates

Recommendation

This Form 4 filing details routine executive compensation events (RSU vesting and tax withholding) and does not contain information that would fundamentally alter the investment thesis for First Community Corp. It confirms ongoing executive alignment but provides no new operational or financial data to warrant a change in investment posture.

Keywords

FCCO, First Community Corp, Ted J Nissen, Form 4, Insider Transaction, Restricted Stock Units, RSU Vesting, Equity Incentive Plan, Executive Compensation, Share Ownership, Tax Withholding