STOCK OPTIONS, RESTRICTED STOCK, RESTRICTED STOCK UNITS, AND DEFERRED COMPENSATION (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Share-Based Payment Arrangement [Abstract] |
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| Schedule of nonvested restricted stock and stock units |
At December 31, 2025, unrecognized compensation cost related to non-vested restricted stock and units totaled $3.1 million, expected to
be recognized over a weighted average period of 1.0 years. The table below
shows the components of “nonvested restricted stock and stock units” as of the years ended December 31, 2025 and 2024.
Schedule of
nonvested restricted stock and stock units
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| (Dollars in thousands) | |
As of December 31, | |
| Nonvested restricted stock and stock units | |
2025 | | |
2024 | |
| Non-employee director deferred compensation stock plan deferred stock units | |
$ | 1,823 | | |
$ | 1,600 | |
| Time-based restricted stock units - officer | |
| 525 | | |
| 481 | |
| Performance-based restricted stock units - officer | |
| 921 | | |
| 561 | |
| Restricted stock – officer and director | |
| (204 | ) | |
| (3 | ) |
| Total nonvested restricted stock and stock units | |
$ | 3,065 | | |
$ | 2,639 | |
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| Schedule of Non-Employee Director Deferred Compensation |
The table below
shows the following information related to First Community Corporation’s Non-Employee Director Deferred Compensation Plan:
accumulated share units and accrued amounts as of the years ended December 31, 2025, 2024 and 2023; and the related director compensation
expense for the twelve months ended 2025, 2024, and 2023.
Schedule of Non-Employee
Director Deferred Compensation
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Twelve Months ended December 31, | |
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2025 | | |
2024 | | |
2023 | |
| Non-employee director deferred compensation plan accumulated share units | |
| 120,575 | | |
| 111,166 | | |
| 103,133 | |
| Accrued amounts (dollars in thousands)1 | |
$ | 1,823 | | |
$ | 1,600 | | |
$ | 1,439 | |
| Related director compensation expense (dollars in thousands) | |
$ | 152 | | |
$ | 90 | | |
$ | 125 | |
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| Schedule of Fair Value of Stock Awards Granted |
The table below
shows stock awards granted during the twelve months ended December 31, 2025, 2024, and 2023.
Schedule of Fair Value of Stock Awards Granted
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| (In
shares/units) | |
Twelve
Months ended December 31, | |
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2025 | | |
2024 | | |
2023 | |
| Time-based
restricted stock units - officer | |
| 14,126 | | |
| 15,095 | | |
| 12,562 | |
| Performance-based restricted
stock units – officer | |
| 18,834 | 1 | |
| 20,126 | 2 | |
| 16,749 | 3 |
| Restricted stock –
officer | |
| 10,689 | | |
| 206 | | |
| 259 | |
| Restricted stock –
director | |
| 8,400 | | |
| 13,464 | | |
| 7,590 | |
| 1 |
18,834 units represent the target payout
with a maximum payout of 37,668 units. |
| 2 |
20,126 units represent the target payout
with a maximum payout of 40,253 units. |
| 3 |
16,749 units represent the target payout
with a maximum payout of 33,500 units. |
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| Schedule of Fair Value of Stock Awards Granted |
The table below
shows the fair value of stock awards granted during the periods.
Schedule of Fair Value of Stock Awards Granted
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| (Dollars
in thousands) | |
Twelve
months ended December 31, | |
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2025 | | |
2024 | | |
2023 | |
| Time-based
restricted stock units - officer | |
$ | 370 | | |
$ | 271 | | |
$ | 255 | |
| Performance-based
restricted stock units – officer | |
| 493 | 1 | |
| 362 | 2 | |
| 340 | 3 |
| Restricted
stock – officer | |
| 286 | | |
| 3 | | |
| 5 | |
| Restricted
stock – director | |
$ | 220 | | |
$ | 242 | | |
$ | 154 | |
| 1 |
$493 thousand represents the target payout
with a maximum payout of $986 thousand. |
| 2 |
$362 thousand represents the target payout
with a maximum payout of $723 thousand. |
| 3 |
$340 thousand represents the target payout
with a maximum payout of $680 thousand. |
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| Schedule of Compensation Expense Related to Stock Awards Granted |
The table below
shows the compensation expense related to stock awards granted during the twelve months ended December 31, 2025, 2024 and 2023.
Schedule of Compensation
Expense Related to Stock Awards Granted
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| (Dollars in thousands) | |
Year ended December 31, | |
| Compensation expense related to stock awards | |
2025 | | |
2024 | | |
2023 | |
| Time-based restricted stock units – officer1 | |
$ | 290 | | |
$ | 246 | | |
$ | 163 | |
| Performance-based restricted stock units – officer2 | |
| 605 | | |
| 314 | | |
| 264 | |
| Restricted stock – officer3 | |
| 90 | | |
| 6 | | |
| 120 | |
| Restricted stock – director4 | |
$ | 220 | | |
$ | 242 | | |
$ | 167 | |
| 1 |
Expense in 2025 and
2024 was related to stock awards granted under the First Community Corporation 2021 Omnibus Equity Incentive Plan. Expense
in 2023 consists of $159.8 thousand related stock awards granted under the First Community Corporation 2021 Omnibus Equity
Incentive Plan and $3.2 thousand related stock awards granted under the First Community Corporation 2011 Stock Incentive Plan. |
| 2 |
Expense in 2025 was
related to stock awards granted under the First Community Corporation 2021 Omnibus Equity Incentive Plan. Expense in 2024
consists of $300.7 thousand related stock awards granted under the First Community Corporation 2021 Omnibus Equity Incentive
Plan and $13 thousand related stock awards granted under the First Community Corporation 2011 Stock Incentive Plan. Expense
in 2023 consists of $186.0 thousand related stock awards granted under the First Community Corporation 2021 Omnibus Equity
Incentive Plan and $78.0 thousand related stock awards granted under the First Community Corporation 2011 Stock Incentive
Plan. |
| 3 |
Expense in 2025 was
related to stock awards granted under the First Community Corporation 2021 Omnibus Equity Incentive Plan. Expense in 2024
consists of $3.4 thousand related stock awards granted under the First Community Corporation 2021 Omnibus Equity Incentive
Plan and $2.5 thousand related stock awards granted under the First Community Corporation 2011 Stock Incentive Plan. Expense
in 2023 consists of $17.2 thousand related stock awards granted under the First Community Corporation 2021 Omnibus Equity
Incentive Plan and $102.8 thousand related stock awards granted under the First Community Corporation 2011 Stock Incentive
Plan. |
| 4 |
Expense in 2025, 2024, and 2023 was related
to stock awards granted under the Community Corporation 2021 Omnibus Equity Incentive Plan. |
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| Schedule of Stock Awards Granted Under 2021 Incentive Plan |
The table below
shows the First Community Corporation 2021 Omnibus Equity Incentive Plan (“2021 Incentive Plan”) initial reserve at
May 19, 2021; stock awards granted under the 2021 Incentive Plan from its inception through December 31, 2025; and the remaining
reserve under such plan at December 31, 2025.
Schedule
of Stock Awards Granted Under 2021 Incentive Plan
| (In shares / units) | |
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| First Community Corporation 2021 Omnibus Equity Incentive Plan | |
2025 | |
| Initial reserve – May 19, 2021 | |
| 225,000 | |
| Additional reserve – May 20, 2025 | |
| 450,000 | |
| Shares / units granted | |
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| Time-based restricted stock units - officer | |
| (53,521 | ) |
| Performance-based restricted stock units – officer1 | |
| (67,447 | ) |
| Restricted stock – officer | |
| (13,355 | ) |
| Restricted stock – director | |
| (36,813 | ) |
| Remaining reserve – December 31, 2025 | |
| 503,864 | |
| 1 |
Performance-based restricted stock units
are initially granted and expensed at target levels; however, they are reserved at maximum levels. The maximum level for 2025
was 37,668. |
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