BELCHER JASON R 4
4 · FIRST COMMUNITY BANKSHARES INC /VA/ · Filed May 28, 2026
Research Summary
AI-generated summary of this filing
First Community (FCBC) SVP Jason Belcher Converts RSUs; $64K Tax Withheld
What Happened
- Jason R. Belcher, SVP & Chief Administrative Officer of First Community Bankshares, reported the conversion/vesting of 3,132 restricted stock units (RSUs) into common shares on May 26, 2026. To satisfy tax withholding, 1,515 of those shares were surrendered at a value of $42.38 each, totaling $64,206. Net shares received from the conversion were 1,617 (3,132 converted minus 1,515 withheld).
- On May 27, 2026, Belcher was granted 2,153 RSUs. Those new RSUs are contingent awards (see footnote) and vest only if performance criteria and continued employment conditions are met.
Key Details
- Transaction dates: RSU conversion/vesting and withholding on 2026-05-26; new RSU grant on 2026-05-27. Form filed 2026-05-28 (timely).
- Withholding: 1,515 shares withheld @ $42.38 = $64,206 to cover tax liability (transaction code F).
- Net shares received from the May 26 conversion: 1,617 shares (3,132 converted − 1,515 withheld).
- Ownership after transaction: not specified in the filed excerpt.
- Footnotes of note:
- F1: The 3,132 RSUs cliff vested on 5/26/2026 based on three-year performance through 3/31/2026 and continued employment.
- F3: The 2,153 RSUs granted 5/27/2026 cliff vest on 5/29/2027 subject to performance through 3/31/2027 and continued employment.
- Transaction types explained: M entries reflect conversion/exercise of derivative awards (RSUs); F reflects tax-withholding via share surrender; A is a grant/award.
Context
- This activity appears to be routine compensation-related vesting and a subsequent grant, not an open-market purchase or sale. The withholding of shares to satisfy taxes is a common, non-market-sale mechanism (a cashless tax withholding).
- RSU grants and conversions are contingent on performance and employment; they do not by themselves indicate the insider’s personal buying/selling view of the company.
Insider Transaction Report
Form 4
BELCHER JASON R
SVP-Chief Admin Officer
Transactions
- Exercise/Conversion
COMMON STOCK
[F1]2026-05-26+3,132→ 20,017 total - Tax Payment
COMMON STOCK
2026-05-26$42.38/sh−1,515$64,206→ 18,502 total - Exercise/Conversion
RESTRICTED STOCK UNITS
[F1]2026-05-26−3,132→ 0 total→ COMMON STOCK (3,132 underlying) - Award
RESTRICTED STOCK UNITS
[F5]2026-05-27+2,153→ 2,153 total→ COMMON STOCK (2,153 underlying)
Holdings
- 5,312(indirect: By Employee Stock Ownership & Savings Plan)
COMMON STOCK
[F2] - 2,427
RESTRICTED STOCK UNITS
[F3]→ COMMMON STOCK (2,427 underlying) - 2,332
RESTRICTED STOCK UNITS
[F4]→ COMMON STOCK (2,332 underlying)
Footnotes (5)
- [F1]Each restricted stock unit converted into one share of First Community Bankshares Inc. common stock. The restricted stock units cliff vested on May 26, 2026 based on First Community Bankshares, Inc. satisfaction of certain performance criteria for the three years ending March 31, 2026 and the continued employment of the reporting person.
- [F2]Shares were acquired due to nondiscretionary company contribution and allocation under 401(k) plan as well as quarterly dividend reinvestment.
- [F3]Each restricted stock unit represents a contingent right to receive one share of First Community Bankshares Inc. common stock, or at the reporting persons election, the cash value thereof. The restricted stock units cliff vest on May 29, 2027 based on First Community Bankshares, Inc. satisfaction of certain performance criteria for the three years ending March 31, 2027 and the continued employment of the reporting person.
- [F4]Each restricted stock unit represents a contingent right to receive one share of First Community Bankshares Inc. common stock, or at the reporting persons election, the cash value thereof. 30% of the restricted stock units cliff vest on May 28, 2028, and 70% of the units vest based on First Community Bankshares, Inc. satisfaction of certain performance criteria for the three years ending March 31, 2028. All vesting is contingent upon the continued employment of the reporting person.
- [F5]Each restricted stock unit represents a contingent right to receive one share of First Community Bankshares Inc. common stock, or at the reporting persons election, the cash value thereof. 30% of the restricted stock units cliff vest on May 27, 2029, and 70% of the units vest based on First Community Bankshares, Inc. satisfaction of certain performance criteria for the three years ending March 31, 2029. All vesting is contingent upon the continued employment of the reporting person.
Signature
Jason R. Belcher by: Sarah W. Harmon (His Attorney-in-Fact)|2026-05-28