---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-027865"
form_type: "8-K"
ticker: "FCBC"
cik: "0000859070"
company_name: "FIRST COMMUNITY BANKSHARES INC /VA/"
filed_at: "2024-08-27T23:59:59+00:00"
generated_at: "2026-05-31T07:32:16.234383+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# FCBC enters new employment agreements with CEO, President, CFO, COO, and CAO for three-year terms

## Summary
- Five named executive officers including CEO William P. Stafford, II and CFO David D. Brown signed new employment agreements effective Jan 1, 2024.
- Initial three-year terms ending Dec 31, 2027, with automatic annual renewal extending the term by another three years.
- Severance: 18 months base salary and benefits if terminated without cause (or for good reason) outside a change of control.
- Change of control severance: 36 months of base salary and benefits, subject to golden parachute excise tax reduction.
- Post-termination non-compete, non-solicitation, and confidentiality covenants apply during employment and for restricted periods.

## SEC filing metadata
- accession: 0001437749-24-027865
- form_type: 8-K
- ticker: FCBC
- cik: 0000859070
- company_name: FIRST COMMUNITY BANKSHARES INC /VA/
- filed_at: 2024-08-27T23:59:59+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/859070/000143774924027865/0001437749-24-027865-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/859070/000143774924027865/fcbc20240827c_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-027865
- JSON: https://secwatch.observer/filing/0001437749-24-027865.json
- Plain text: https://secwatch.observer/filing/0001437749-24-027865.txt

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