BELCHER JASON R 4

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.