Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Effective October 1, 2026, the Boards of Directors of First Community Corporation (the “Company”) and First Community Bank (the “Bank”) approved the appointment of Terrance Ford and Shell K. Berry as directors of the Company and the Bank.…
First Community Corporation stock trades on The NASDAQ Capital Market under the symbol “FCCO” and is the holding company for First Community Bank, a local community bank based in the Midlands of South Carolina. First Community Bank is a full-service commercial bank offering deposit and loan products and services, residential mortgage lending, financial planning/investment advisory services, and SBA/USDA lending. First Community serves customers in the Midlands, Aiken, Upstate and Piedmont Regions of South Carolina as well as Augusta and Atlanta, Georgia. For more information, visit www.firstcommunitysc.com.
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Item 5.02Item 5.02 - Departure/Election of Directors
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment
of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective October 1, 2026, the Boards of Directors of First Community Corporation
(the “Company”) and First Community Bank (the “Bank”) approved the appointment of Terrance Ford and Shell K. Berry
as directors of the Company and the Bank. Committee assignments for Mr. Ford and Ms. Berry have not yet been determined. Both Mr. Ford
and Ms. Berry will participate in the current director compensation arrangements generally applicable to the Company’s non-employee
directors as described in the Company’s Proxy Statement filed in connection with its 2026 Annual Meeting of Shareholders. There
are no arrangements or understandings between Mr. Ford or Ms. Berry and any other persons pursuant to which they were selected as directors.
In addition, neither Mr. Ford nor Ms. Berry has engaged in any transaction with the Company or the Bank that would be reportable as a
related party transaction under Item 404(a) of Regulation S-K.
Mr. Ford, age 47, serves as the Vice President of AT&T South Carolina,
a position he has held since 2023, where he leads the company’s statewide strategy, legislative affairs, public policy, philanthropy
and external engagement. Prior to his appointment as Vice President, Mr. Ford served in various operational and leadership positions at
AT&T over nearly three decades, including managing technical teams, overseeing installation and maintenance of advanced broadband
services, leading network operations, and directing regional economic-development and community-affairs activities. Mr. Ford currently
serves as Chairman of the Greater Columbia Chamber of Commerce Board of Directors. He holds a Bachelor’s degree and a Master
of Business Administration from Webster University. The Board believes Mr. Ford’s ties to the Columbia, South Carolina community,
a key market for the Bank, and his extensive experience in telecommunications, technology infrastructure, cybersecurity, governmental
affairs and community development will enhance his ability to serve as a director of the Company.
Ms. Berry, age 54, serves as the President and Chief Executive Officer
of the Community Foundation for the Central Savannah River Area (CSRA), a position she has held since 2015. Under her leadership, the
Foundation has grown from approximately $60 million in assets to over $215 million. Prior to joining the Community Foundation, Ms. Berry
worked in investment banking at Banc of America Securities LLC in Chicago and Atlanta, in development for the Atlanta Ballet, and owned
a retail business. She currently serves as a member of the HUB Augusta Collaborative Board of Directors, the Augusta Economic Development
Authority, Augusta Tomorrow Board of Directors and Union Presbyterian Seminary Board of Trustees. She holds a Bachelor’s degree
in Communications from Wake Forest University and a Master in Management from the Kellogg School of Management at Northwestern
University. The Board believes Ms. Berry’s ties to the Richmond County, Georgia community, a new and growing market for the Bank,
and her extensive board experience and background in nonprofit management, finance and investment banking will enhance her ability to
serve as a director of the Company.
FORWARD-LOOKING STATEMENTS
Certain statements in this report may contain “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, uncertainties
and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking
statements, including, among others, the risks, uncertainties and other factors disclosed in our most recent Annual Report on Form 10-K
filed with the SEC, or in any of our Quarterly Reports on Form 10-Q or Current Reports on Form 8-K filed with the SEC since the end of
the fiscal year covered by our most recently filed Annual Report on Form 10-K, which are available at the SEC’s Internet site (http://www.sec.gov).
We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future
events, or otherwise, except as required by law.