First Community (NASDAQ: FCBC) logs director phantom stock grant

Rhea-AI Filing Summary

First Community Bankshares director C. William Davis reported an award of phantom stock tied to company shares. On February 4, 2026, 1,032 phantom stock units, each economically equivalent to one share of common stock at $39.76, were credited indirectly through the FCB Director Deferred Compensation Plan, bringing that balance to 5,805 units.

The filing also shows Davis beneficially owns 16,605 shares of common stock directly and 3,176 shares through an IRA. He holds stock options on 3,958 shares at $33 per share, vesting in three equal installments beginning March 31, 2022, and 928 restricted stock units scheduled to vest on May 28, 2026.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

DAVIS C WILLIAM

(Last) (First) (Middle)

PO BOX 989

(Street)

BLUEFIELD VA 24605

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
FIRST COMMUNITY BANKSHARES INC /VA/ [ FCBC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/04/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
COMMON STOCK								16,605(1)	D
COMMON STOCK								3,176	I	IRA

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
PHANTOM STOCK	(2)	02/04/2026		A		1,032		(2)	(2)	COMMON STOCK	4,773	$39.76	5,805	I	By FCB Director Deferred Compensation Plan
STOCK OPTION	$33							03/31/2022(3)	03/19/2031	COMMON STOCK	3,958		3,958	D
RESTRICTED STOCK UNITS	(4)							(4)	(4)	COMMON STOCK	928		928	D

Explanation of Responses:

1. Shares increased due to quarterly dividend reinvestment.

2. 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 service as a director.

3. Stock options vest in three equal installments over three years beginning with 03/31/2022.

4. 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 vest in one installment on May 28, 2026.

	C. William Davis by: Sarah W. Harmon (His Attorney-in-Fact)	02/05/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider activity did FCBC director C. William Davis report?

Davis reported an award of 1,032 phantom stock units on February 4, 2026. These units, credited through the FCB Director Deferred Compensation Plan, are economically equivalent to common shares and increase his phantom stock balance to 5,805 units tied to First Community Bankshares.

What is the phantom stock reported in the FCBC Form 4 filing?

The phantom stock represents units economically equivalent to First Community common shares. According to the filing, 1,032 units were added and become payable, in cash or stock at Davis’s election, when he terminates service as a director, giving deferred, share-linked compensation.

How many First Community (FCBC) shares does the director now hold?

The filing lists 16,605 shares of First Community common stock held directly by Davis and 3,176 shares held indirectly through an IRA. These figures reflect his beneficial ownership of the issuer’s stock as of the reported date in the Form 4.

What stock options does C. William Davis hold in FCBC?

Davis holds stock options covering 3,958 shares of First Community common stock at an exercise price of $33 per share. The options vest in three equal installments over three years beginning March 31, 2022, providing long-term, performance-linked compensation exposure.

What restricted stock units are disclosed for the FCBC director?

The Form 4 shows 928 restricted stock units outstanding for Davis. Each unit represents a right to receive one First Community share or its cash value, with vesting scheduled in a single installment on May 28, 2026, subject to continued service conditions.

How will the FCBC phantom stock units eventually be settled?

According to the disclosure, each phantom stock unit becomes payable in cash or common stock, at Davis’s election, when his service as a director ends. This structure defers compensation while keeping its value tied to First Community’s share performance over time.