First Community Bankshares (FCBC) president trades stock and exercises options
Rhea-AI Filing Summary
First Community Bankshares president Gary R. Mills reported option exercises and a share sale. On July 28, 2026 he exercised stock options covering 4,365 common shares at strike prices of $24.65 and $33.00 per share. On July 30, 2026 he sold 3,500 common shares at $47.671 per share in an open-market or private transaction.
He continues to hold equity-based awards reported in the statement, including stock options over 3,025 shares at $29.15, 15,968 phantom stock units through a 401(k) wrap, and several restricted stock unit grants covering 5,728, 5,107 and 4,917 underlying shares, plus indirect ownership of 10,995 common shares via an Employee Stock Ownership & Savings Plan.
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Negative
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Insights
Analyzing...
Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
12 txns
Insider
Mills Gary R
Role
President
Sold
3,500 shs ($167K)
Approx. gross sale proceeds
$167K
Approx. exercise cost
$137K
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | COMMON STOCK F1 | 3,500 | $47.671 | $167K |
| Exercise | STOCK OPTION F4, F5 | 865 | $0.00 | $0.00 |
| Exercise | STOCK OPTION F6 | 3,500 | $0.00 | $0.00 |
| Exercise | COMMON STOCK | 865 | $24.65 | $21K |
| Exercise | COMMON STOCK | 3,500 | $33.00 | $116K |
| holding | STOCK OPTION F4, F5 | -- | -- | -- |
| holding | PHANTOM STOCK F7 | -- | -- | -- |
| holding | RESTRICTED STOCK UNITS F8 | -- | -- | -- |
| holding | RESTRICTED STOCK UNITS F9 | -- | -- | -- |
| holding | RESTRICTED STOCK UNITS F10 | -- | -- | -- |
| holding | COMMON STOCK F1, F2 | -- | -- | -- |
| holding | COMMON STOCK F3 | -- | -- | -- |
Holdings After Transaction:
STOCK OPTION — 15,324 shares (Direct);
COMMON STOCK — 48,542 shares (Direct);
PHANTOM STOCK — 15,968 shares (Indirect, By 401k Wrap);
RESTRICTED STOCK UNITS — 15,752 shares (Direct);
COMMON STOCK — 10,995 shares (Indirect, By Employee Stock Ownership & Savings Plan)
Footnotes (10)
- F1. Shares were transferred from individual account to joint account.
- F2. Owned jointly with spouse.
- F3. Shares were acquired due to quarterly dividend reinvestment.
- F4. Stock options vest and become exercisable in seven equal annual installments beginning with the date listed.
- F5. Stock options are exercisable until 5 years after retirement at or after age 62, disability or death. If employment is terminated other than by retirement at or after 62, disability or death vested options must be exercised within 90 days after the effective date of termination. Any option not exercised within such period shall be deemed cancelled.
- F6. Stock options vest in three equal installments over three years beginning with 03/31/2022.
- F7. Each share of phantom stock is the economic equivalent of one share of common stock. The shares of phantom stock become payable, in cash or common stock, at the election of the reporting person, upon the reporting person's termination of employment.
- F8. 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.
- F9. 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.
- F10. 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.
Key Figures
Shares sold: 3500.0000 shares
Sale price: $47.6710 per share
Options exercised at $24.65: 865.0000 shares
+5 more
8 metrics
Shares sold
3500.0000 shares
Common stock sold on 2026-07-30
Sale price
$47.6710 per share
Price for 3,500 common shares sold on 2026-07-30
Options exercised at $24.65
865.0000 shares
Common shares from option exercise on 2026-07-28
Options exercised at $33.00
3500.0000 shares
Common shares from option exercise on 2026-07-28
Remaining stock options
3025.0000 underlying shares at $29.1500
Unexercised stock option position reported as of 2026-07-28
Phantom stock units
15968.0000 units
Indirect phantom stock tied to common shares via 401k wrap
Restricted stock units
5728.0000; 5107.0000; 4917.0000 underlying shares
Three RSU grants with performance and time-based vesting
Indirect ESOP shares
10995.0000 shares
Common stock held via Employee Stock Ownership & Savings Plan
Key Terms
phantom stock, restricted stock unit, cliff vest, Employee Stock Ownership & Savings Plan, +1 more
5 terms
phantom stock financial
"Each share of phantom stock is the economic equivalent of one share"
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
restricted stock unit financial
"Each restricted stock unit represents a contingent right to receive one share"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
cliff vest financial
"The restricted stock units cliff vest on May 29, 2027"
A cliff vest is a schedule for stock options or restricted shares where no ownership rights are earned until a fixed date, after which a set portion becomes fully owned all at once — like a probation period that suddenly unlocks pay. Investors watch cliff vests because they influence when insiders can sell shares, affect staff retention and dilution timing, and help predict short-term changes in a company’s shareholder makeup.
Employee Stock Ownership & Savings Plan financial
"By Employee Stock Ownership & Savings Plan"
stock options vest financial
"Stock options vest and become exercisable in seven equal annual installments"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions did FCBC president Gary R. Mills report?
Gary R. Mills reported exercising stock options for 4,365 shares on July 28, 2026 at strike prices of $24.65 and $33.00, and then selling 3,500 common shares on July 30, 2026 at $47.671 per share.
What stock options did the FCBC president exercise in this Form 4?
He exercised stock options covering 865 shares at $24.65 and 3,500 shares at $33.00 per share on July 28, 2026. These option exercises converted derivative awards into shares of First Community Bankshares common stock.
What equity awards does the FCBC president still hold after these transactions?
Reported remaining positions include stock options over 3,025 shares at $29.15, 15,968 phantom stock units, and restricted stock units covering 5,728, 5,107 and 4,917 underlying shares, plus 10,995 common shares indirectly through an Employee Stock Ownership & Savings Plan.
How do the FCBC phantom stock units work for the president?
Each phantom stock unit is the economic equivalent of one FCBC common share. According to the disclosure, these 15,968 phantom shares become payable in cash or stock, at the insider’s election, when employment terminates.
When do the FCBC restricted stock units reported for the president vest?
One grant of restricted stock units cliff vests on May 29, 2027, another vests 30% on May 28, 2028 with the rest performance-based, and a third follows a similar structure with 30% on May 27, 2029, all subject to continued employment and performance criteria.