Business Context and Reporting Period
Company: First Community Corporation
Filing Type: Form 8-K (Current Report)
Date of Report: January 17, 2002
Event Date: January 17, 2002
The filing reports a corporate action approved by the Board of Directors regarding the company's capital structure.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on a stock split announcement.
Material Changes
- Stock Split Approval: The Board approved a 5-for-4 stock split of common stock.
- Form of Distribution: The split will be executed as a 25 percent stock dividend.
- Record Date: January 31, 2002.
- Payment Date: On or about February 28, 2002.
- Fractional Shares: Shareholders will receive a cash equivalent for fractional shares based on the average closing price on the OTC Bulletin Board on the record date.
Guidance, Outlook, and Risks
The filing contains no management guidance, future outlook, risk factors, or discussion of contingencies. It is a procedural announcement of the stock split mechanics.
Investor Verification Checklist
- Verify the record date of January 31, 2002, to determine eligibility for the stock dividend.
- Confirm the expected payment date of approximately February 28, 2002.
- Monitor the OTC Bulletin Board closing price on the record date to calculate potential cash payments for fractional shares.
- Review the attached press release (Exhibit 99.1) for any additional details not summarized in the 8-K text.