secwatch.observer — SEC 8-K summary
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Issuer:     FIRST COMMUNITY CORP /SC/ (FCCO)
CIK:        0000932781
Form:       8-K
Filed at:   2026-10-02T13:00:16+00:00
Accession:  0001552781-26-000507
Event type: leadership
Sentiment:  neutral
Materiality: 0.25
Item codes: 5.02
LLM model:  deepseek-v4.1-flash:cloud@v2

First Community signs consulting deal with retiring EVP J. Ted Nissen at up to $40K/month
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- First Community Bank entered a Consulting Agreement with J. Ted Nissen effective January 1, 2027, after his December 31, 2026 retirement as EVP/Chief Banking Officer and Bank CEO.
- Nissen will be paid $40,000 per month for January-March 2027 and $15,000 per month for April through December 2027, payable on the 15th beginning January 15, 2027.
- Term runs to the earliest of December 31, 2027, death, or disability; lump-sum payment of earned but unpaid amounts due within 60 days of death or disability termination.
- He reports to the Bank's CEO, works with the Company's President and CEO, and is expected to work as needed Jan-Mar 2027 then 16 hours or less per week Apr-Dec 2027.
- As an independent contractor he is excluded from employee benefit plans; non-compete, non-solicit and non-recruitment covenants extend 12 months past termination, per his amended employment agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/932781/000155278126000507/0001552781-26-000507-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/932781/000155278126000507/e26403_fcco-8k.htm
  HTML page:      https://secwatch.observer/filing/0001552781-26-000507

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