CRAPPS MICHAEL C 4

What Happened

• Michael C. Crapps, President & CEO and a Director of First Community Corporation (FCCO), had 3,564 time‑based restricted stock units (RSUs) convert to common shares on February 21, 2026. The RSUs converted at no cash price (reported as $0.00).
• To satisfy tax withholding on the vesting, 1,823 of those shares were withheld/disposed at an effective value of $30.62 per share, totaling $55,820. The filing shows conversion (transaction code M) of RSUs to shares and a withholding (transaction code F) to cover tax obligations.

Key Details

• Transaction date: February 21, 2026; Form 4 filed February 24, 2026 (timely within the required window).
• Acquired (conversion of RSUs): 3,564 shares @ $0.00 (derivative conversion).
• Disposed (tax withholding): 1,823 shares @ $30.62 = $55,820.
• Shares owned after the transaction: not disclosed in the provided filing.
• Footnotes of note:
  • These were time‑based RSUs granted Feb 21, 2023 and vested (cliff) on Feb 21, 2026.
  • RSUs were granted under the company’s omnibus plan and had no purchase price (one RSU = one share).
  • Shares were withheld to satisfy tax withholding obligations on vesting.
  • Additional RSU tranches remain: 4,185 RSUs cliff vest on Feb 20, 2027 and 2,987 RSUs on Feb 18, 2028.

Context

• This was an award/vesting event, not an open‑market purchase or voluntary sale by the insider. The withholding of shares to cover taxes is a routine administrative disposition (common on RSU vesting) rather than a market sale for cash proceeds to the insider.
• Transaction codes: M = conversion/exercise of derivative (here, RSUs converting to shares); F = payment of exercise price or satisfaction of tax liability (here, withholding shares for taxes).