First Community (NASDAQ: FCBC) CEO logs RSU grant, vesting and updated share holdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
First Community Bankshares, Inc. Chief Executive Officer William P. Stafford II reported compensation-related equity activity. He received a grant of 3,690 restricted stock units (RSUs). Separately, 5,546 RSUs converted into the same number of common shares, with 1,850 shares withheld to cover tax obligations.
After these transactions, he directly holds 213,011 shares of common stock, plus indirect holdings of 4,058 shares through an employee stock ownership and savings plan and 2,866 shares through a pension plan. He also retains unexercised equity awards, including RSUs tied to multi‑year performance criteria and stock options for 11,702 shares at an exercise price of $33.00 per share.
Positive
- None.
Negative
- None.
Insights
Routine equity vesting and grants for the CEO with no open‑market trades.
The filing shows compensation-driven equity movements for CEO William P. Stafford II. He received 3,690 restricted stock units, and an existing award of 5,546 RSUs converted into common stock, reflecting previously granted incentives reaching a vesting milestone.
Of the converted shares, 1,850 were withheld at a price of $42.38 to satisfy tax obligations, a standard mechanism rather than an open‑market sale. After these events he holds 213,011 common shares directly and maintains additional indirect plan holdings and unexercised options at an exercise price of $33.00, indicating continued equity exposure.
Insider Trade Summary
5,546 shares exercised/converted
Mixed
9 txns
Insider
STAFFORD WILLIAM P II
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | RESTRICTED STOCK UNITS | 3,690 | $0.00 | -- |
| Exercise | RESTRICTED STOCK UNITS | 5,546 | $0.00 | -- |
| Exercise | COMMON STOCK | 5,546 | $0.00 | -- |
| Tax Withholding | COMMON STOCK | 1,850 | $42.38 | $78K |
| holding | STOCK OPTION | -- | -- | -- |
| holding | RESTRICTED STOCK UNITS | -- | -- | -- |
| holding | RESTRICTED STOCK UNITS | -- | -- | -- |
| holding | COMMON STOCK | -- | -- | -- |
| holding | COMMON STOCK | -- | -- | -- |
Holdings After Transaction:
RESTRICTED STOCK UNITS — 3,690 shares (Direct, null);
COMMON STOCK — 213,011 shares (Direct, null);
STOCK OPTION — 11,702 shares (Direct, null);
COMMON STOCK — 2,866 shares (Indirect, By Brewster Morhous Money Purchase Pension Plan)
Footnotes (1)
- 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. Shares were acquired due to nondiscretionary company contribution and allocation under 401(k) plan as well as quarterly dividend reinvestment. Stock options vest in three equal installments over three years beginning with 03/31/2022. 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. 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. 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
New RSU grant: 3,690 units
RSUs exercised: 5,546 units
Tax withholding shares: 1,850 shares at $42.38
+4 more
7 metrics
New RSU grant
3,690 units
Restricted stock units granted to CEO
RSUs exercised
5,546 units
RSUs converted into common stock
Tax withholding shares
1,850 shares at $42.38
Shares withheld to cover tax liability
Direct common shares
213,011 shares
Common stock held directly after transactions
ESOP & savings plan shares
4,058 shares
Indirect holdings via Employee Stock Ownership & Savings Plan
Pension plan shares
2,866 shares
Indirect holdings via Brewster Morhous pension plan
Stock options
11,702 shares at $33.00
Unexercised options, expiration March 19, 2031
Key Terms
restricted stock unit, cliff vested, 401(k) plan, stock options, +2 more
6 terms
restricted stock unit financial
"Each restricted stock unit represents a contingent right to receive one share of First Community Bankshares Inc. common stock"
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 vested financial
"The restricted stock units cliff vested on May 26, 2026 based on First Community Bankshares, Inc. satisfaction of certain performance criteria"
401(k) plan financial
"Shares were acquired due to nondiscretionary company contribution and allocation under 401(k) plan as well as quarterly dividend reinvestment"
A 401(k) plan is a workplace retirement account that lets employees set aside part of their pay into a tax-advantaged savings pot, often with employers adding matching contributions — like a workplace piggy bank for future income. It matters to investors because the amount people save and how employers fund these plans influence consumer spending, corporate payroll costs and the flow of money into financial markets, which can affect stock prices and company valuations.
stock options financial
"Stock options vest in three equal installments over three years beginning with 03/31/2022"
Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.
tax-withholding disposition financial
"Payment of exercise price or tax liability by delivering securities"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
performance criteria financial
"based on First Community Bankshares, Inc. satisfaction of certain performance criteria for the three years ending March 31, 2026"
FAQ
What did FCBC CEO William P. Stafford II report in this Form 4?
He reported routine equity compensation activity, including a grant of 3,690 restricted stock units and the conversion of 5,546 RSUs into common shares, with a portion of those shares withheld to cover associated tax obligations.
How many restricted stock units did FCBC’s CEO receive in this filing?
He received 3,690 new restricted stock units. These units are a form of stock-based compensation that typically vest over time or upon meeting performance criteria, potentially settling in First Community Bankshares common stock or equivalent cash value at vesting.
What are the FCBC CEO’s direct common stock holdings after these transactions?
Following the reported transactions, he directly holds 213,011 shares of First Community Bankshares common stock. This figure reflects his position after the RSU conversion and related tax-withholding shares, as disclosed in the updated ownership totals.
What unexercised stock options does the FCBC CEO hold?
He holds stock options linked to 11,702 underlying common shares with a $33.00 exercise price, expiring on March 19, 2031. These options vest in three equal installments beginning March 31, 2022, as described in the accompanying footnote disclosure.