Business Context and Reporting Period
This Form 8-K reports on the 2013 Annual Meeting of Shareholders for First Community Corporation, held on May 22, 2013, in Columbia, South Carolina. The filing details the submission of matters to a vote of security holders, including director elections, executive compensation approval, and auditor ratification.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and shareholder voting outcomes rather than financial performance data.
Material Changes and Voting Results
Of 5,290,452 shares outstanding, 3,884,502 shares (approximately 73%) were present in person or by proxy. The following proposals were voted upon:
- Director Elections (Class I): Four directors were elected.
- Anita B. Easter: 2,584,788 For; 107,165 Withheld.
- George H. Fann, Jr.: 2,582,680 For; 109,273 Withheld.
- Michael C. Crapps: 2,561,100 For; 130,853 Withheld.
- Richard K. Bogan, MD: 2,134,439 For; 557,514 Withheld.
- Executive Compensation (Say-on-Pay): Approved with 2,449,029 For votes versus 66,391 Against.
- Say-on-Pay Frequency: Shareholders voted for a 1-year frequency (1,393,386 votes) over 3-year (1,078,655 votes) or 2-year (35,515 votes) options.
- Auditor Ratification: Elliott Davis, LLC was ratified with 3,871,907 For votes versus 10,524 Against.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for future guidance, management outlook, specific risks, contingencies, or unusual items. The document is limited to the reporting of past voting events.
Key Facts for Investor Verification
- Verify the continued tenure of Class II and Class III directors listed in the filing.
- Confirm the implementation of the shareholder-approved 1-year Say-on-Pay frequency.
- Review the full proxy statement for details on the specific compensation packages approved by the advisory vote.
- Note the significant number of Broker Non-Votes (1,192,549) on director elections and the Say-on-Pay frequency proposal.