Form 4: First Community Corp Director Snipe Alexander JR Acquires Shares Through Deferred Compensation Plan

Director Snipe Alexander JR acquired 293 shares of First Community Corp through a deferred compensation plan, adding to existing holdings.

Summary

• On June 30, 2024, Snipe Alexander JR, a director of First Community Corp, acquired 293 shares of common stock through the company's Amended and Restated Non-Employee Director Deferred Compensation Plan.
• The shares were acquired at a price of $17.04 per share.
• Following the transaction, Snipe Alexander JR directly owns 50,030 shares and indirectly owns 3,927 shares through Glory Communications, Inc.
• The direct holdings include 42,552 deferred stock units under the Deferred Compensation Plan, which also receive dividend equivalents.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine transaction related to executive compensation. There's no indication of significant positive or negative implications.

Positives

• The acquisition of shares by a director can be seen as a positive sign, indicating confidence in the company's future.

Future Outlook

The document does not contain specific forward-looking statements, but it details ongoing participation in the deferred compensation plan.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in the financial industry as part of executive compensation packages. These transactions are closely monitored by regulators and investors for compliance and potential insights into management's view of the company's prospects.

Comparison to Industry Standards

• Deferred compensation plans are a common practice among publicly traded companies, particularly in the financial sector, to attract and retain key personnel.
• The specifics of First Community Corp's plan, such as the crediting of deferred stock units and dividend equivalents, are generally in line with industry standards for such plans.
• Comparing the director's holdings and transactions to those of directors at similar-sized community banks could provide further context, but this would require additional research.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders.
• It provides transparency regarding director compensation and ownership.

Key Dates