First Community Bankshares (NASDAQ: FCBC) CRO logs RSU grant, tax withholding and option activity
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
First Community Bankshares Chief Risk Officer Derek A. Bonnett reported routine equity compensation activity. He received a grant of 1,756 restricted stock units (RSUs), each representing one share of common stock or its cash value, as long as performance and employment conditions are met.
Bonnett also exercised 2,151 RSUs into common shares, and 1,342 shares were withheld to cover tax obligations rather than sold on the market. After these transactions, he directly holds 4,068 common shares, plus indirect holdings of 501 shares in his spouse’s IRA and 1,550 shares through an employee stock plan.
He continues to hold unexercised awards, including RSUs tied to future performance periods and stock options on 977 shares with a $33.00 exercise price expiring in 2031, showing a remaining equity stake beyond the current transactions.
Positive
- None.
Negative
- None.
Insider Trade Summary
2,151 shares exercised/converted
Mixed
9 txns
Insider
Bonnett Derek A
Role
Chief Risk Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | RESTRICTED STOCK UNITS | 1,756 | $0.00 | -- |
| Exercise | RESTRICTED STOCK UNITS | 2,151 | $0.00 | -- |
| Exercise | COMMON STOCK | 2,151 | $0.00 | -- |
| Tax Withholding | COMMON STOCK | 1,342 | $42.38 | $57K |
| holding | STOCK OPTION | -- | -- | -- |
| holding | RESTRICTED STOCK UNITS | -- | -- | -- |
| holding | RESTRICTED STOCK UNITS | -- | -- | -- |
| holding | COMMON STOCK | -- | -- | -- |
| holding | COMMON STOCK | -- | -- | -- |
Holdings After Transaction:
RESTRICTED STOCK UNITS — 1,756 shares (Direct, null);
COMMON STOCK — 4,068 shares (Direct, null);
STOCK OPTION — 977 shares (Direct, null);
COMMON STOCK — 1,550 shares (Indirect, By Employee Stock Ownership & Savings 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
RSU grant: 1,756 units
RSUs exercised: 2,151 units
Shares withheld for taxes: 1,342 shares
+4 more
7 metrics
RSU grant
1,756 units
Restricted stock units granted to CRO Derek Bonnett
RSUs exercised
2,151 units
RSUs converted into FCBC common stock
Shares withheld for taxes
1,342 shares
Code F tax-withholding disposition
Direct common shares after transactions
4,068 shares
Direct FCBC common stock held by Derek Bonnett
Indirect IRA holdings
501 shares
Common stock held in spouse’s IRA
Employee plan holdings
1,550 shares
Common stock via Employee Stock Ownership & Savings Plan
Stock options remaining
977 shares at $33.00
Options on FCBC common stock expiring 2031-03-19
Key Terms
Restricted Stock Units, cliff vest, 401(k) plan, stock options, +1 more
5 terms
Restricted Stock Units financial
"Each restricted stock unit represents a contingent right to receive one share of First Community Bankshares Inc. common stock"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
cliff vest financial
"The restricted stock units cliff vested on May 26, 2026 based on First Community Bankshares, Inc. satisfaction of certain performance criteria"
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.
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.
dividend reinvestment financial
"Shares were acquired due to nondiscretionary company contribution and allocation under 401(k) plan as well as quarterly dividend reinvestment"
Dividend reinvestment is when the money earned from a company's profit sharing, called dividends, is automatically used to buy more shares of that company instead of being received as cash. This process helps investors grow their holdings over time without extra effort, much like using earned interest to buy more of a savings account. It encourages long-term investment growth by continuously increasing the amount of shares owned.
FAQ
What did FCBC Chief Risk Officer Derek Bonnett report in this Form 4?
Derek Bonnett reported routine equity compensation activity, including a grant of 1,756 restricted stock units and the exercise of 2,151 RSUs into common shares, with a portion of the resulting shares withheld to cover tax obligations.
Was there any open-market buying or selling by Derek Bonnett in this FCBC Form 4?
The Form 4 shows no open-market purchases or sales. It records an RSU grant, an RSU-to-share conversion, and 1,342 shares withheld for taxes, which is a non-market disposition used to satisfy tax liabilities on vested equity awards.
What derivative equity awards does Derek Bonnett still hold in FCBC after this filing?
He continues to hold RSU awards tied to performance through 2027–2029 and stock options on 977 FCBC shares with a $33.00 exercise price expiring in 2031, indicating additional potential future share ownership beyond his current common stock holdings.
How were tax obligations handled on Derek Bonnett’s FCBC equity vesting?
The filing reports that 1,342 FCBC common shares were disposed of under code F, meaning they were withheld by the company to satisfy tax liabilities arising from equity vesting, rather than being sold by Bonnett in the open market.