Form 4: First Community Corp Director Acquires Additional Deferred Stock Units

Thomas Carlton Brown, a director of First Community Corp, acquired 235 deferred stock units at $17.04 per unit on June 30, 2024, through a deferred compensation plan.

Summary

• On June 30, 2024, Thomas Carlton Brown, a director of First Community Corp, acquired 235 deferred stock units.
• The acquisition was made under the First Community Corporation Amended and Restated Non-Employee Director Deferred Compensation Plan.
• The price per deferred stock unit was $17.04, based on the closing bid price of First Community Corporation common stock on June 28, 2024.
• Following the transaction, Brown directly owns 36,601 shares, including 6,971 deferred stock units.
• These deferred stock units include 58 units credited as dividend equivalents during the second quarter of 2024.
• Shares of First Community Corporation common stock will be issued on a one-for-one basis for these deferred stock units upon distribution from the Plan.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. The director's participation in the deferred compensation plan suggests confidence in the company, but it's a routine transaction.

Positives

• The acquisition of deferred stock units by a director signals confidence in the company's future performance.
• The deferred compensation plan aligns the interests of directors with those of shareholders.

Future Outlook

The document does not contain specific forward-looking statements, but the acquisition of deferred stock units suggests a positive outlook from the director.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. This filing indicates a director's participation in a deferred compensation plan, which is a common practice in the financial industry.

Comparison to Industry Standards

• Deferred compensation plans for non-employee directors are a common practice in the banking industry.
• Many regional banks use similar plans to attract and retain qualified board members.
• The specific terms of the plan, such as the vesting schedule and the form of payment, can vary among companies.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with the company's performance.

Key Dates