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First Community stockholders OK authorized share count increase

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First Community stockholders OK authorized share count increase

First Community Corp. shareholders at their annual meeting held May 22 approved an amendment to the company's restated articles of incorporation to increase the number of authorized common shares to 20 million from 10 million.

The company also disclosed that the board determined to include an advisory shareholder vote on executive compensation in the company's proxy materials every year. This is in line with the board's recommendation as set forth in First Community's proxy statement for the annual meeting and the vote of the shareholders at the meeting.

This policy will remain in effect until the next stockholder vote on the frequency of shareholder votes on executive compensation.

The Lexington, S.C.-based company also disclosed that effective as of the adjournment of the 2019 annual meeting, Richard Bogan, Anita Easter and J. Randolph Potter retired from the board.