Form 4: First Community Corp EVP and CFO Donald Shawn Jordan Reports Stock Transactions

Donald Shawn Jordan, EVP and CFO of First Community Corporation, reports the vesting and tax withholding of restricted stock units, resulting in changes to his beneficial ownership of common stock.

Summary

• On February 17, 2025, Donald Shawn Jordan, EVP and CFO of First Community Corporation, received 1,756 shares of common stock upon the vesting of time-based restricted stock units.
• 871 shares were withheld to satisfy tax obligations related to the vesting of these units at a price of $27.3 per share.
• On February 18, 2025, Jordan received 2,256 shares of common stock upon the vesting of performance-based restricted stock units.
• 1,120 shares were withheld for taxes upon the settlement of these performance-based restricted stock units at a price of $26.84 per share.
• Following these transactions, Jordan directly owns 7,858 shares of First Community Corporation common stock and 5,663 restricted stock units.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't contain overtly positive or negative information, but the vesting of stock units can be seen as a positive sign of the executive meeting performance goals.

Positives

• The vesting of restricted stock units indicates that Jordan has met certain time-based and performance-based requirements set by the company.
• The increase in direct ownership of common stock aligns Jordan's interests with those of the shareholders.

Future Outlook

The reporting person holds additional restricted stock units that will vest in the future: 1,870 units on February 21, 2026; 2,212 units on February 20, 2027; and 1,581 units on February 17, 2028.

Industry Context

This filing is a routine disclosure related to executive compensation and equity ownership, common in the financial services industry.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units as a way to align management's interests with those of shareholders.
• The vesting schedules and performance metrics associated with these units are typically benchmarked against industry peers to ensure competitiveness and effectiveness.
• Companies like South State Corporation (SSB) and United Community Banks, Inc. (UCBI) also utilize similar equity-based compensation strategies for their executives.

Stakeholder Impact

• The vesting of restricted stock units could have a minor dilutive effect on existing shareholders.
• The transactions reflect the compensation structure for the company's executives.

Key Dates

Keywords

restricted stock units, Form 4, beneficial ownership, FCCO, First Community Corporation, Donald Shawn Jordan, vesting, tax withholding, common stock