Business Context and Reporting Period
This Form 8-K reports on the Annual Meeting of Shareholders for First Community Corporation held on May 18, 2022. The company is incorporated in South Carolina and its common stock trades on the Nasdaq Capital Market under the symbol FCCO.
Key Financial Metrics
This filing is a current report regarding corporate governance and shareholder voting results. It does not provide financial data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. Investors should refer to the company's most recent Form 10-K or 10-Q for financial performance details.
Material Changes and Voting Results
The filing details the outcomes of three matters submitted to shareholders. Of the 7,553,238 shares outstanding, 5,532,048 shares (approximately 73.24%) were present in person or by proxy.
- Director Elections: Shareholders elected four Class I directors to serve terms expiring in 2025. All nominees received majority support, though Jane S. Sosebee received a higher number of withheld votes compared to other nominees.
- Executive Compensation: Shareholders approved the non-binding advisory "say-on-pay" resolution.
- Auditor Ratification: Shareholders ratified the appointment of Elliott Davis, LLC as the independent registered public accountants for the fiscal year ending December 31, 2022.
Voting Summary Table
| Matter | For | Against/Withheld | Abstain | Broker Non-Vote |
|---|---|---|---|---|
| Election of Class I Directors (Aggregate) | 15,959,451 | 272,337 | N/A | 5,896,404 |
| Say-on-Pay Vote | 3,977,190 | 59,163 | 21,594 | 1,474,101 |
| Ratification of Auditors | 5,372,602 | 111,557 | 47,889 | N/A |
Guidance, Outlook, and Risks
This filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies. It is strictly a disclosure of shareholder voting results.
Key Facts for Investor Verification
- Verify the specific vote counts for Jane S. Sosebee, who received 162,930 withheld votes, significantly higher than the other Class I nominees.
- Confirm the composition of the full Board of Directors, including the continuing Class II and Class III members listed in the filing.
- Note that Elliott Davis, LLC has been ratified as the auditor for the fiscal year ending December 31, 2022.
- Recognize that this document contains no financial performance data; review the latest 10-K for fiscal year 2021 results.