First Community Corp (NASDAQ:FCCO) held its annual shareholder meeting on Wednesday at its principal executive office in Lexington, South Carolina. According to a statement based on a recent SEC filing, shareholders voted on the election of directors, an advisory resolution on executive compensation, and the ratification of the company's independent accounting firm.
Shareholders elected two Class I directors, Thomas C. Brown and Roderick M. Todd, Jr., to serve terms expiring in 2028. Five Class II directors—C. Jimmy Chao, Michael C. Crapps, Fred J. Deutsch, Jan H. Hollar, and W. James Kitchens, Jr.—were elected to terms expiring in 2029. Two Class III directors, Jonathan W. Been and J. Ted Nissen, were elected for terms expiring in 2027.
Of the 9,366,626 shares outstanding, 6,262,567 shares (approximately 66.86%) were represented at the meeting. Shareholders also approved, on a non-binding advisory basis, the compensation of named executive officers: 4,834,058 votes in favor, 71,049 against, 13,387 abstaining, with 1,344,073 broker non-votes.
The appointment of Elliott Davis, LLC as independent registered public accounting firm was ratified with 6,161,156 votes in favor, 100,212 against, and 1,199 abstaining. This information is based on a press release statement included in the company's recent SEC filing.
In other recent news, First Community Corporation reported first-quarter earnings with net income of $5.498 million, or $0.59 per diluted share. The company completed its acquisition of Signature Bank of Georgia, expanding into the Atlanta market. Additionally, the board approved a $7.5 million share repurchase plan.
