Equity award vests for First Community (FCCO) CEO amid tax withholding
Rhea-AI Filing Summary
First Community Corporation President and CEO Michael C. Crapps reported equity award activity involving restricted stock units and common stock. On February 21, 2026, 3,564 restricted stock units granted on February 21, 2023 under the 2021 Omnibus Equity Incentive Plan cliff vested, with each unit converting into one share of common stock at no cost to him.
To cover tax withholding related to this vesting, 1,823 shares of common stock were withheld at $30.62 per share as a tax-withholding disposition. After these transactions, Crapps directly holds 73,658 shares of common stock and 7,172 restricted stock units, and has indirect ownership of 9,805 common shares held by his wife. Footnotes also note additional time-based RSUs scheduled to cliff vest in 2027 and 2028.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 3,564 | $0.00 | -- |
| Exercise | Common Stock | 3,564 | $0.00 | -- |
| Tax Withholding | Common Stock | 1,823 | $30.62 | $56K |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Shares delivered to the reporting person pursuant to vesting of time-based restricted stock units, which were granted to the reporting person on February 21, 2023, under the First Community Corporation 2021 Omnibus Equity Incentive Plan and vested on February 21, 2026. The time-based restricted stock units were granted under the Plan, and therefore the reporting person paid no price for the time-based restricted stock units. Shares withheld to satisfy tax withholding obligation applicable to the vesting of time-based restricted stock units that vested on February 21, 2026. Each restricted stock unit represents a contingent right to receive one share of First Community Corporation (FCCO) common stock. 3,564 restricted stock units cliff vested on February 21, 2026. 4,185 restricted stock units cliff vest on February 20, 2027, at which time the vested shares will be delivered to the reporting person and 2,987 restricted stock units cliff vest on February 18, 2028, at which time the vested shares will be delivered to the reporting person.