Results

First Community Corporation

05/22/2025 | Press release | Distributed by Public on 05/22/2025 15:27

Proxy Results (Form 8-K)

Item 5.07 Submission of Matters to a Vote of Security Holders.

The annual meeting of shareholders (the "Annual Meeting") of First Community Corporation (the "Corporation") was held on May 21, 2025 at 11:00 a.m. at the Corporation's principal executive office located at 5455 Sunset Boulevard, Lexington, South Carolina 29072. Of the 7,671,056 shares of the Corporation's common stock outstanding as of the record date of the Annual Meeting, there were present in person or by proxy 5,458,325 shares, representing approximately 71.15% of the total outstanding eligible votes. At the Annual Meeting, the shareholders of the Corporation: (1) elected four Class I members to the Corporation's Board of Directors to serve a term expiring in 2028 and one Class II member to the Corporation's Board of Directors to serve a term expiring in 2026; (2) approved an advisory resolution regarding the compensation of the Corporation's named executive officers; (3) approved an advisory resolution recommending an annual frequency for future advisory votes on executive compensation.; (4) approved the Amended and Restated First Community Corporation 2021 Omnibus Equity Incentive Plan, increasing the number of shares of common stock authorized for issuance under the plan by 450,000 shares, from 225,000 shares to 675,000 shares; and (5) ratified the appointment of Elliott Davis, LLC as the Corporation's independent registered public accountants for the fiscal year ending December 31, 2025.

The final results of voting on each of the matters submitted to a vote of shareholders during the Annual Meeting are as follows:

1. To elect four Class I members of the Board of Directors to serve a three-year term expiring at the 2028 annual meeting of shareholders or until their respective successors are duly elected and qualified:

Class I: For Withheld Broker Non-Vote
Michael C. Crapps 4,077,552 27,236 1,353,537
Jan H. Hollar 4,099,492 5,296 1,353,537
Mickey E. Layden 3,800,116 304,672 1,353,537
Jane S. Sosebee 3,746,345 358,443 1,353,537

To elect one Class II member of the Board of Directors to serve a one-year term expiring at the 2026 annual meeting of shareholders or until his successor is duly elected and qualified:

Class II: For Withheld Broker Non-Vote
J. Ted Nissen 4,085,883 18,905 1,353,537

The other directors that continued in office after the Annual Meeting are as follows:

Class II: Class III:
Thomas C. Brown C. Jimmy Chao
W. James Kitchens, Jr. Ray E. Jones
Roderick M. Todd, Jr. E. Leland Reynolds
Alexander Snipe, Jr.

2. A non-binding, advisory vote, to approve the compensation of the Corporation's named executive officers (the "say-on-pay" vote):

For Against Abstain Broker Non-Vote
4,019,104 61,274 24,410 1,353,537

3. A non-binding resolution to determine whether shareholders should have a say-on-pay every one, two, or three years (the "say-on-frequency" vote):

1 Year 2 Years 3 Years Abstain
3,935,474 5,656 148,413 15,245

Consistent with the recommendation of the Board of Directors and the vote of the shareholders, the Corporation will continue to include an advisory vote on executive compensation in its proxy materials every year. This policy will remain in effect until the next required vote on the frequency of such advisory votes.

First Community Corporation published this content on May 22, 2025, and is solely responsible for the information contained herein. Distributed via Edgar on May 22, 2025 at 21:27 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]