First Community (NASDAQ: FCCO) investors approve board slate, say-on-pay and auditor
Rhea-AI Filing Summary
First Community Corporation held its annual shareholder meeting, where investors elected a full slate of Class I, II, and III directors, approved executive pay on an advisory basis, and ratified the external auditor.
Shareholders representing 6,262,567 of 9,366,626 eligible shares, or about 66.86% of the vote, were present in person or by proxy. All nominated directors received strong support, with individual “for” votes generally around 4.8–4.9 million and relatively few votes withheld. The non-binding “say‑on‑pay” resolution passed with 4,834,058 votes in favor versus 71,049 against, and Elliott Davis, LLC was ratified as independent registered public accounting firm with 6,161,156 votes for and minimal opposition.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 5.07, 9.01
2 items
Item 5.07
Submission of Matters to a Vote of Security Holders
Governance
Results of a shareholder vote on proposals at an annual or special meeting.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Shares outstanding: 9,366,626 shares
Shares represented: 6,262,567 shares
Say-on-pay support: 4,834,058 for vs. 71,049 against
+3 more
6 metrics
Shares outstanding
9,366,626 shares
Common stock outstanding as of record date
Shares represented
6,262,567 shares
Present in person or by proxy, about 66.86% of votes
Say-on-pay support
4,834,058 for vs. 71,049 against
Advisory vote on named executive officer compensation
Auditor ratification votes
6,161,156 for, 100,212 against
Ratification of Elliott Davis, LLC for 2026
Director example vote
4,903,842 for
Votes for Class III director Jonathan W. Been
Broker non-votes on directors
1,344,073 shares
Broker non-votes on each director election item
Key Terms
Emerging growth company, broker non-vote, say-on-pay, independent registered public accounting firm, +1 more
5 terms
Emerging growth company regulatory
"Emerging growth company Item 5.07 Submission of Matters to a Vote of Security Holders."
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
broker non-vote financial
"Class I: | For | Withheld | Broker Non-Vote Thomas C. Brown | 4,838,274 | 80,220 | 1,344,073"
say-on-pay financial
"A non-binding, advisory vote, to approve the compensation of the Corporation’s named executive officers (the “say-on-pay” vote)"
A say-on-pay is a shareholder vote that gives investors a chance to approve or disapprove a company’s executive compensation packages, typically held at annual meetings. It matters because the vote signals investor satisfaction with how leaders are paid—like customers rating how well managers are rewarded—and can push boards to change pay plans, reducing governance risk and affecting investor confidence and stock value even though the vote is usually advisory rather than legally binding.
independent registered public accounting firm financial
"ratified the appointment of Elliott Davis, LLC as the Corporation’s independent registered public accounting firm"
An independent registered public accounting firm is an outside accounting company officially registered with the government regulator to examine and report on a public company's financial records and controls. Investors treat its reports like an impartial inspector’s certificate — they add credibility to financial statements, help spot errors or misleading claims, and reduce the risk that shareholders are relying on unchecked or biased numbers.
advisory resolution financial
"approved an advisory resolution regarding the compensation of the Corporation’s named executive officers"
An advisory resolution is a non-binding vote by shareholders that expresses their opinion on a specific corporate matter, such as executive pay or a governance policy. It matters to investors because, like a public survey, it signals shareholder sentiment to the board and management; even though it does not force action, a strong vote for or against can prompt changes, affect company reputation, and influence future decisions that impact shareholder value.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
Were all First Community Corporation (FCCO) director nominees elected at the 2026 meeting?
Yes. All Class I, II, and III director nominees received sufficient votes. Individual nominees generally received between about 4.6 million and 4.9 million "for" votes, with relatively few votes withheld and 1,344,073 broker non-votes reported on each director proposal.