Bonnett Derek A 4
4 · FIRST COMMUNITY BANKSHARES INC /VA/ · Filed May 28, 2026
Research Summary
AI-generated summary of this filing
FCBC Chief Risk Officer Derek Bonnett Converts 2,151 RSUs
What Happened
- Derek A. Bonnett, Chief Risk Officer of First Community Bankshares, had 2,151 restricted stock units (RSUs) convert into common shares on May 26, 2026. To satisfy tax withholding, 1,342 of those shares were surrendered at $42.38/share for $56,874, leaving a net 809 shares issued to Bonnett. The implied gross value of the vested RSUs at $42.38 is about $91,159.
- On May 27, 2026 Bonnett was also granted 1,756 RSUs (reported as a derivative award). Those new RSUs are contingent and subject to future vesting and performance/continued-employment conditions.
Key Details
- Transaction dates: 2026-05-26 (RSU conversion and tax withholding); 2026-05-27 (new RSU grant).
- Prices reported: tax withholding at $42.38 per share (1,342 shares → $56,874); conversion/grant entries show $0.00 as exercise price (typical for RSU conversions/grants).
- Net shares delivered to insider from the May 26 vesting: 809 shares (2,151 vested − 1,342 withheld).
- Shares owned after transaction: not specified in the Form 4.
- Footnotes of note: the 2,151 RSUs cliff vested on May 26, 2026 based on satisfaction of three-year performance criteria and continued employment; the new 1,756 RSU award is contingent on future performance/continued employment (see filing footnotes).
- Filing timeliness: report filed May 28, 2026 for transactions on May 26–27 (appears timely under Form 4 rules).
Context
- These entries reflect RSU vesting and routine tax-withholding (code F), not an open-market buy or sell. The RSU conversion (code M) issued shares to Bonnett; withholding is common and should not be interpreted as a market sell decision by the insider.
- The newly granted RSUs are not immediately tradeable common stock — they vest later only if performance and employment conditions are met.
Insider Transaction Report
Form 4
Bonnett Derek A
Chief Risk Officer
Transactions
- Exercise/Conversion
COMMON STOCK
[F1]2026-05-26+2,151→ 4,068 total - Tax Payment
COMMON STOCK
2026-05-26$42.38/sh−1,342$56,874→ 2,726 total - Exercise/Conversion
RESTRICTED STOCK UNITS
[F1]2026-05-26−2,151→ 0 total→ COMMON STOCK (2,151 underlying) - Award
RESTRICTED STOCK UNITS
[F6]2026-05-27+1,756→ 1,756 total→ COMMON STOCK (1,756 underlying)
Holdings
- 1,550(indirect: By Employee Stock Ownership & Savings Plan)
COMMON STOCK
[F2] - 501(indirect: By Spouse)
COMMON STOCK
- 977
STOCK OPTION
[F3]Exercise: $33.00From: 2022-03-31Exp: 2031-03-19→ COMMON STOCK (977 underlying) - 1,667
RESTRICTED STOCK UNITS
[F4]→ COMMON STOCK (1,667 underlying) - 1,888
RESTRICTED STOCK UNITS
[F5]→ COMMON STOCK (1,888 underlying)
Footnotes (6)
- [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]Stock options vest in three equal installments over three years beginning with 03/31/2022.
- [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. 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.
- [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 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.
- [F6]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
Derek A. Bonnett by: Sarah W. Harmon (His Attorney-in-Fact)|2026-05-28