CRAPPS MICHAEL C 4
4 · FIRST COMMUNITY CORP /SC/ · Filed Feb 26, 2026
Research Summary
AI-generated summary of this filing
FIRST COMMUNITY (FCCO) CEO Michael Crapps Receives Stock Award; Shares Withheld
What Happened
Michael C. Crapps, President, CEO and Director of First Community Corporation (FCCO), had 7,762 performance-based restricted stock units (RSUs) vest on Feb 24, 2026 and received 7,762 shares (acquired at $0 because these were awards). To satisfy tax withholding, 3,572 of those shares were delivered/forfeited (disposed) at an indicated per-share value of $29.43, totaling about $105,124. The filing also reports an additional 2,607 restricted stock units (derivative RSUs) granted/recorded (zero price) that will cliff-vest in the future.
Key Details
- Transaction date: 2026-02-24; Form 4 filed: 2026-02-26 (timely filing).
- Vested/received: 7,762 shares (performance-based RSUs granted 2/21/2023). Purchase price to the insider: $0 (award).
- Shares withheld for taxes (code F): 3,572 shares at $29.43/share → $105,124 withheld/disposed. Net shares delivered on vesting: 4,190 (7,762 − 3,572).
- Additional derivative award: 2,607 RSUs reported (zero-dollar grant) that cliff vest on Feb 24, 2029 per footnotes. Footnotes also show other scheduled cliff vesting: 4,185 RSUs (2/20/2027) and 2,987 RSUs (2/18/2028).
- The RSUs represent contingent rights to receive one share each; the reporting person paid no price for the performance RSUs.
- Shares owned after the transaction are not specified in the provided filing.
Context
- This filing reflects vesting of performance-based RSUs and routine tax withholding, not an open-market sale; the withheld shares were surrendered to cover tax liability (code F), not sold for investment reasons.
- RSUs are derivative awards that convert to common shares at vesting; some RSUs in this filing vest immediately, while others are scheduled to cliff-vest in 2027–2029.
- Such awards are common executive compensation and do not by themselves indicate the insider’s intent to buy or sell additional stock.
Insider Transaction Report
Form 4
CRAPPS MICHAEL C
DirectorPresident and CEO
Transactions
- Award
Common Stock
[F1][F2]2026-02-24+7,762→ 79,597 total - Tax Payment
Common Stock
[F3]2026-02-24$29.43/sh−3,572$105,124→ 76,025 total - Award
Restricted Stock Units
[F4][F5][F6]2026-02-24+2,607→ 9,779 total→ Common Stock (2,607 underlying)
Holdings
- 9,805(indirect: By Spouse)
Common Stock
Footnotes (6)
- [F1]Shares delivered to the reporting person pursuant to vesting of performance-based restricted stock units, which were granted to the reporting person on February 21, 2023, under the First Community Corporation 2021 Omnibus Equity Incentive Plan and vested upon achievement of performance goals for the applicable performance period.
- [F2]The performance-based restricted stock units were granted under the Plan, and therefore the reporting person paid no price for the performance-based restricted stock units.
- [F3]Shares withheld for taxes upon the settlement in shares of the performance-based restricted stock units previously granted to the reporting person.
- [F4]Each restricted stock unit represents a contingent right to receive one share of First Community Corporation (FCCO) common stock.
- [F5]The restricted stock units cliff vest on February 24, 2029, at which time the vested shares will be delivered to the reporting person.
- [F6]4,185 restricted stock units cliff vest on February 20, 2027, at which time the vested shares will be delivered to the reporting person; 2,987 restricted stock units cliff vest on February 18, 2028, at which time the vested shares will be delivered to the reporting person; and 2,607 restricted stock units cliff vest on February 24, 2029, at which time the vested shares will be delivered to the reporting person.
Signature
/s/ D. SHAWN JORDAN, AS ATTORNEY-IN-FACT|2026-02-26