DAVIS C WILLIAM 4

What Happened

• Davis C. William, a director of First Community Bankshares Inc. (FCBC), had a conversion/exercise of derivative awards on May 28, 2026 for 928 shares (reported as an M transaction). The filing also shows a grant/award of 842 restricted stock units (RSUs) on May 27, 2026 (A transaction). The reported exercises/conversions and disposition entries show $0.00 as the per-share price or cash value in the filing; no cash value is reported for these entries.

Key Details

• Transaction dates and types:
  • 2026-05-28: Exercise/conversion of derivative (M) — 928 shares acquired (N/A price) and a corresponding derivative disposition of 928 shares at $0.00 (reported as derivative).
  • 2026-05-27: Grant/award (A) — 842 RSUs granted at $0.00 (derivative).
• Shares owned after the transactions: not specified in the provided summary.
• Filing timeliness: Report filed 2026-05-29 for transactions dated 2026-05-27/28 — appears to be filed within the typical Form 4 deadline (timely).
• Relevant footnotes from the filing:
  • F1: Each restricted stock unit converted into one common share; those RSUs vested on May 28, 2026 (applies to the conversion on 05/28).
  • F2: Share totals also adjusted by quarterly dividend reinvestment.
  • F3: Phantom stock is the economic equivalent of one common share and becomes payable (cash or stock) upon termination of director service.
  • F4: Separate stock options vest in three equal installments beginning 03/31/2022.
  • F5: Each newly granted RSU represents a contingent right to one share (or cash at the holder’s election) and vests in one installment on May 27, 2027 (applies to the 842-RSU grant).

Context

• These entries are derivative-related (RSUs/phantom units) rather than open-market purchases or typical sales. The May 28 conversion reflects RSUs/derivatives being converted into common shares; the filing also shows a derivative disposition at $0.00, which filings commonly reflect when shares are net-settled for taxes or similar administrative settlements (the form here simply reports the disposition as $0.00).
• The 842-RSU grant is a future-contingent award that vests later (per footnote F5), so it does not represent an immediate acquisition of free shares.
• This activity is routine compensation/award-related insider reporting and is not, by itself, an explicit bullish or bearish signal about company performance.