---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-22-013925"
form_type: "8-K"
ticker: "FCBC"
cik: "0000859070"
company_name: "FIRST COMMUNITY BANKSHARES INC /VA/"
filed_at: "2022-05-31T23:59:59+00:00"
generated_at: "2026-06-25T06:05:46.521469+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# First Community Bankshares adopts Executive Incentive Compensation Plan for 2022

## Summary
- Plan effective Jan 1, 2022; approved May 24, 2022; renews annually.
- Key financial metric for 2022 is Return on Average Equity (ROAE); threshold, target, max set vs peer group.
- NEOs include Stafford, Mills, Brown, Belcher, Harmon; target incentive ranges 12.5% to 50% of salary.
- KPIs for 2022: budgeted net income, efficiency ratio, return on assets; payouts subject to clawback.
- No incentive paid if ROAE below threshold; maximum capped at 2x target.

## SEC filing metadata
- accession: 0001437749-22-013925
- form_type: 8-K
- ticker: FCBC
- cik: 0000859070
- company_name: FIRST COMMUNITY BANKSHARES INC /VA/
- filed_at: 2022-05-31T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/859070/000143774922013925/0001437749-22-013925-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/859070/000143774922013925/fcbc20220527_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-22-013925
- JSON: https://secwatch.observer/filing/0001437749-22-013925.json
- Plain text: https://secwatch.observer/filing/0001437749-22-013925.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.