STOCK OPTIONS, RESTRICTED STOCK, RESTRICTED STOCK UNITS, AND DEFERRED COMPENSATION (Tables)
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12 Months Ended |
Dec. 31, 2022 |
Share-Based Payment Arrangement [Abstract] |
|
Schedule of stock unit reclassified |
The table below shows the balance as of
June 30, 2022 for each type of stock unit reclassified.
Schedule of stock unit reclassified
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STOCK OPTIONS, RESTRICTED STOCK, RESTRICTED STOCK UNITS, AND DEFERRED COMPENSATION |
(Dollars in thousands) | |
| |
Type of stock unit | |
Balance | |
Nonemployee Director deferred compensation stock units | |
| 1,201 | |
Time-Based Restricted Stock Units | |
| 79 | |
Performance-Based Restricted Stock Units | |
| 138 | |
Total stock units reclassified | |
| 1,418 | |
|
Schedule of nonvested restricted stock and stock units |
The table below shows the components
of “nonvested restricted stock and stock units” as of the years ended December 31, 2022, 2021, and 2020.
Schedule of
nonvested restricted stock and stock units
| |
| | |
| | |
| |
(Dollars in thousands) | |
Year ended December 31, | |
Nonvested restricted stock and stock units | |
2022 | | |
2021 | | |
2020 | |
Non-employee director deferred compensation stock plan deferred stock units | |
| 1,260 | | |
| — | 1 | |
| — | 1 |
Time-based restricted stock units - officer | |
| 129 | | |
| — | 2 | |
| — | 2 |
Performance-based restricted stock units - officer | |
| 218 | | |
| — | | |
| — | |
Restricted stock – officer and director | |
| (146 | ) | |
| (294 | ) | |
| (283 | ) |
Total nonvested restricted stock and stock units | |
| 1,461 | | |
| (294 | ) | |
| (283 | ) |
1 | In June 2022, all of the
Company’s stock units were reclassified from “Other liabilities”. At December 31, 2021 and December 31, 2020, $1.107
million was $1.056 million, respectively, were included in “Other liabilities”. |
2 | In June 2022, all of the
Company’s stock units were reclassified from “Other liabilities”. At December 31, 2021 and December 31, 2020, $144 thousand
was $107 thousand, respectively, were included in “Other liabilities”. |
|
[custom:DisclosureStockOptionsRestrictedStockRestrictedStockUnitsAndDeferredCompensationDetails2Abstract] |
| |
| | |
| | |
| |
(Dollars in thousands) | |
Year ended December 31, | |
Nonvested restricted stock and stock units | |
2022 | | |
2021 | | |
2020 | |
Non-employee director deferred compensation stock plan deferred stock units | |
| 1,260 | | |
| — | 1 | |
| — | 1 |
Time-based restricted stock units - officer | |
| 129 | | |
| — | 2 | |
| — | 2 |
Performance-based restricted stock units - officer | |
| 218 | | |
| — | | |
| — | |
Restricted stock – officer and director | |
| (146 | ) | |
| (294 | ) | |
| (283 | ) |
Total nonvested restricted stock and stock units | |
| 1,461 | | |
| (294 | ) | |
| (283 | ) |
1 | In June 2022, all of the
Company’s stock units were reclassified from “Other liabilities”. At December 31, 2021 and December 31, 2020, $1.107
million was $1.056 million, respectively, were included in “Other liabilities”. |
2 | In June 2022, all of the
Company’s stock units were reclassified from “Other liabilities”. At December 31, 2021 and December 31, 2020, $144 thousand
was $107 thousand, respectively, were included in “Other liabilities”. |
|
The table below shows the following information related to First Community Corporation’s Non-Employee Director Deferred Compensation Plan: accumulated share units and accrued liability as of the years ended December 31, 2022, 2021, and 2020; and the related director compensation expense for the twelve months ended 2022, 2021, and 2020. |
The table below shows the following
information related to First Community Corporation’s Non-Employee Director Deferred Compensation Plan: accumulated share
units and accrued liability as of the years ended December 31, 2022, 2021, and 2020; and the related director compensation expense
for the twelve months ended 2022, 2021, and 2020.
| |
| | |
| | |
| |
| |
Year ended December 31, | |
| |
2022 | | |
2021 | | |
2020 | |
Non-employee director deferred compensation plan accumulated share units | |
| 93,488 | | |
| 85,764 | | |
| 88,411 | |
Accrued liability (dollars in thousands)1 | |
| 1,260 | | |
| 1,107 | | |
| 1,056 | |
Related director compensation expense (dollars in thousands) | |
| 153 | | |
| 140 | | |
| 148 | |
1 | Recorded in “Nonvested
restricted stock and stock units” effective June 2022; recorded in “Other liabilities” prior to June 2022. |
|
[custom:DisclosureStockOptionsRestrictedStockRestrictedStockUnitsAndDeferredCompensationDetails3Abstract] |
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| | |
| | |
| |
| |
Year ended December 31, | |
| |
2022 | | |
2021 | | |
2020 | |
Non-employee director deferred compensation plan accumulated share units | |
| 93,488 | | |
| 85,764 | | |
| 88,411 | |
Accrued liability (dollars in thousands)1 | |
| 1,260 | | |
| 1,107 | | |
| 1,056 | |
Related director compensation expense (dollars in thousands) | |
| 153 | | |
| 140 | | |
| 148 | |
1 | Recorded in “Nonvested
restricted stock and stock units” effective June 2022; recorded in “Other liabilities” prior to June 2022. |
|
Schedule of Stock Awards Granted |
The table below shows stock awards
granted during the twelve months ended December 31, 2022, 2021, and 2020.
Schedule of Stock Awards Granted
|
|
1 |
|
|
2 |
|
|
2 |
|
(In shares/units) |
|
Twelve
Months ended December 31, |
|
Stock awards |
|
20221 |
|
|
20212 |
|
|
20202 |
|
Time-based
restricted stock units - officer |
|
|
11,738 |
|
|
|
— |
|
|
|
— |
|
Performance-based
restricted stock units – officer3 |
|
|
11,738 |
|
|
|
13,301 |
|
|
|
— |
|
Restricted
stock – officer |
|
|
2,201 |
|
|
|
13,301 |
|
|
|
13,267 |
|
Restricted
stock – director |
|
|
7,359 |
|
|
|
7,960 |
|
|
|
2,662 |
|
| 1 | Stock awards in 2022 were
granted under the First Community Corporation 2021 Omnibus Equity Incentive Plan. |
| 2 | Stock awards in 2021 and
2020 were granted under the First Community Corporation 2011 Stock Incentive Plan. |
| 3 | 11,738 units represent the
target payout with a maximum payout of 17,608 units. |
|
[custom:DisclosureStockOptionsRestrictedStockRestrictedStockUnitsAndDeferredCompensationDetails4Abstract] |
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|
1 |
|
|
2 |
|
|
2 |
|
(In shares/units) |
|
Twelve
Months ended December 31, |
|
Stock awards |
|
20221 |
|
|
20212 |
|
|
20202 |
|
Time-based
restricted stock units - officer |
|
|
11,738 |
|
|
|
— |
|
|
|
— |
|
Performance-based
restricted stock units – officer3 |
|
|
11,738 |
|
|
|
13,301 |
|
|
|
— |
|
Restricted
stock – officer |
|
|
2,201 |
|
|
|
13,301 |
|
|
|
13,267 |
|
Restricted
stock – director |
|
|
7,359 |
|
|
|
7,960 |
|
|
|
2,662 |
|
| 1 | Stock awards in 2022 were
granted under the First Community Corporation 2021 Omnibus Equity Incentive Plan. |
| 2 | Stock awards in 2021 and
2020 were granted under the First Community Corporation 2011 Stock Incentive Plan. |
| 3 | 11,738 units represent the
target payout with a maximum payout of 17,608 units. |
|
Schedule of Fair Value of Stock Awards Granted |
The table below shows the fair value
of stock awards granted during the twelve months ended December 31, 2022, 2021, and 2020.
Schedule of Fair Value of Stock Awards Granted
|
|
1 |
|
|
2 |
|
|
2 |
|
(Dollars in thousands) |
|
Twelve
months ended December 31, |
|
Fair value
of stock awards on grant date |
|
20221 |
|
|
20212 |
|
|
20202 |
|
Time-based
restricted stock units - officer |
|
|
246 |
|
|
|
— |
|
|
|
— |
|
Performance-based
restricted stock units – officer3 |
|
|
246 |
|
|
|
234 |
|
|
|
— |
|
Restricted
stock – officer |
|
|
46 |
|
|
|
234 |
|
|
|
261 |
|
Restricted
stock – director |
|
|
154 |
|
|
|
140 |
|
|
|
55 |
|
1 | Stock awards in 2022 were
granted under the First Community Corporation 2021 Omnibus Equity Incentive Plan. |
2 | Stock awards in 2021 and
2020 were granted under the First Community Corporation 2011 Stock Incentive Plan. |
3 | $246 thousand represents
the target payout with a maximum payout of $369 thousand. |
|
[custom:DisclosureStockOptionsRestrictedStockRestrictedStockUnitsAndDeferredCompensationDetails5Abstract] |
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|
1 |
|
|
2 |
|
|
2 |
|
(Dollars in thousands) |
|
Twelve
months ended December 31, |
|
Fair value
of stock awards on grant date |
|
20221 |
|
|
20212 |
|
|
20202 |
|
Time-based
restricted stock units - officer |
|
|
246 |
|
|
|
— |
|
|
|
— |
|
Performance-based
restricted stock units – officer3 |
|
|
246 |
|
|
|
234 |
|
|
|
— |
|
Restricted
stock – officer |
|
|
46 |
|
|
|
234 |
|
|
|
261 |
|
Restricted
stock – director |
|
|
154 |
|
|
|
140 |
|
|
|
55 |
|
1 | Stock awards in 2022 were
granted under the First Community Corporation 2021 Omnibus Equity Incentive Plan. |
2 | Stock awards in 2021 and
2020 were granted under the First Community Corporation 2011 Stock Incentive Plan. |
3 | $246 thousand represents
the target payout with a maximum payout of $369 thousand. |
|
Schedule of Compensation Expense Related to Stock Awards Granted Table TextBlock |
The table below shows the compensation
expense related to stock awards granted during the twelve months ended December 31, 2022, 2021, and 2020.
Schedule
of Compensation Expense Related to Stock Awards Granted Table TextBlock
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|
(Dollars in thousands) |
|
Year
ended December 31, |
|
Compensation
expense related to stock awards |
|
2022 |
|
|
2021 |
|
|
2020 |
|
Time-based
restricted stock units – officer1 |
|
|
94 |
|
|
|
19 |
|
|
|
16 |
|
Performance-based
restricted stock units – officer2 |
|
|
153 |
|
|
|
65 |
|
|
|
— |
|
Restricted
stock – officer3 |
|
|
206 |
|
|
|
223 |
|
|
|
197 |
|
Restricted
stock – director4 |
|
|
141 |
|
|
|
140 |
|
|
|
55 |
|
1 | Expense in 2022 consists
of $75.1 thousand related stock awards granted under the First Community Corporation 2021 Omnibus Equity Incentive Plan and $19.1
thousand related stock awards granted under the First Community Corporation 2011 Stock Incentive Plan. Expenses in 2021 and 2020
were related to stock awards granted under the First Community Corporation 2011 Stock Incentive Plan. |
2 | Expense in 2022 consists
of $75.1 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. Expenses in 2021 and 2020
were related to stock awards granted under the First Community Corporation 2011 Stock Incentive Plan. |
3 | Expense in 2022 consists
of $23.8 thousand related stock awards granted under the First Community Corporation 2021 Omnibus Equity Incentive Plan and $182.1
thousand related stock awards granted under the First Community Corporation 2011 Stock Incentive Plan. Expenses in 2021 and 2020
were related to stock awards granted under the First Community Corporation 2011 Stock Incentive Plan. |
4 | Expense in 2022 was related
to stock awards granted under the Community Corporation 2021 Omnibus Equity Incentive Plan. Expenses in 2021 and 2020 were related
to stock awards granted under the First Community Corporation 2011 Stock Incentive Plan. |
|
[custom:DisclosureStockOptionsRestrictedStockRestrictedStockUnitsAndDeferredCompensationDetails6Abstract] |
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(Dollars in thousands) |
|
Year
ended December 31, |
|
Compensation
expense related to stock awards |
|
2022 |
|
|
2021 |
|
|
2020 |
|
Time-based
restricted stock units – officer1 |
|
|
94 |
|
|
|
19 |
|
|
|
16 |
|
Performance-based
restricted stock units – officer2 |
|
|
153 |
|
|
|
65 |
|
|
|
— |
|
Restricted
stock – officer3 |
|
|
206 |
|
|
|
223 |
|
|
|
197 |
|
Restricted
stock – director4 |
|
|
141 |
|
|
|
140 |
|
|
|
55 |
|
1 | Expense in 2022 consists
of $75.1 thousand related stock awards granted under the First Community Corporation 2021 Omnibus Equity Incentive Plan and $19.1
thousand related stock awards granted under the First Community Corporation 2011 Stock Incentive Plan. Expenses in 2021 and 2020
were related to stock awards granted under the First Community Corporation 2011 Stock Incentive Plan. |
2 | Expense in 2022 consists
of $75.1 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. Expenses in 2021 and 2020
were related to stock awards granted under the First Community Corporation 2011 Stock Incentive Plan. |
3 | Expense in 2022 consists
of $23.8 thousand related stock awards granted under the First Community Corporation 2021 Omnibus Equity Incentive Plan and $182.1
thousand related stock awards granted under the First Community Corporation 2011 Stock Incentive Plan. Expenses in 2021 and 2020
were related to stock awards granted under the First Community Corporation 2011 Stock Incentive Plan. |
4 | Expense in 2022 was related
to stock awards granted under the Community Corporation 2021 Omnibus Equity Incentive Plan. Expenses in 2021 and 2020 were related
to stock awards granted under the First Community Corporation 2011 Stock Incentive Plan. |
|
stock awards granted under the 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, 2022; and the 2021 Incentive Plan remaining reserve
at December 31, 2022.
| |
| |
(In shares / units) | |
| |
First Community Corporation 2021 Omnibus Equity Incentive Plan | |
2022 | |
Initial reserve – May 19, 2021 | |
| 225,000 | |
Shares / units granted | |
| | |
Time-based restricted stock units - officer | |
| (11,738 | ) |
Performance-based restricted stock units – officer1 | |
| (17,608 | ) |
Restricted stock – officer | |
| (2,201 | ) |
Restricted stock – director | |
| (7,359 | ) |
Total nonvested restricted stock and stock units | |
| 186,094 | |
1 | Performance-based restricted
stock units are initially granted and expensed at target levels; however, they are reserved at maximum levels. |
|
[custom:DisclosureStockOptionsRestrictedStockRestrictedStockUnitsAndDeferredCompensationDetails7Abstract] |
| |
| |
(In shares / units) | |
| |
First Community Corporation 2021 Omnibus Equity Incentive Plan | |
2022 | |
Initial reserve – May 19, 2021 | |
| 225,000 | |
Shares / units granted | |
| | |
Time-based restricted stock units - officer | |
| (11,738 | ) |
Performance-based restricted stock units – officer1 | |
| (17,608 | ) |
Restricted stock – officer | |
| (2,201 | ) |
Restricted stock – director | |
| (7,359 | ) |
Total nonvested restricted stock and stock units | |
| 186,094 | |
1 | Performance-based restricted
stock units are initially granted and expensed at target levels; however, they are reserved at maximum levels. |
|