Form 8-K

8-K — FIRST COMMUNITY CORP /SC/

Accession: 0001552781-26-000452

Filed: 2026-08-19

Period: 2026-08-19

CIK: 0000932781

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

Item: Financial Statements and Exhibits

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UNITED STATES

SECURITIES

AND EXCHANGE COMMISSION

WASHINGTON,

D.C. 20549

FORM

8-K

CURRENT REPORT

PURSUANT TO

SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

Date

of Report (Date of earliest event reported):

August 19, 2026

First

Community Corporation

(Exact

name of registrant as specified in its charter)

South

Carolina

(State or other

jurisdiction of incorporation)

000-28344

57-1010751

(Commission

File Number)

(IRS

Employer Identification No.)

5455

Sunset Blvd, Lexington, South Carolina

29072

(Address

of principal executive offices)

(Zip

Code)

(803)

951-2265

(Registrant’s

telephone number, including area code)

Not

Applicable

(Former name

or former address, if changed since last report.)

Check the appropriate box below if

the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions

(see General Instruction A.2. below):

☐ Written communications pursuant

to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant

to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications

pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications

pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to

Section 12(b) of the Act:

Title

of each class

Trading

Symbol(s)

Name

of exchange on which registered

Common

stock, par value $1.00 per share

FCCO

The Nasdaq Capital Market

Indicate by check mark whether the

registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter)

or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging

growth company ☐

If an emerging growth company,

indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised

financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment

of Certain Officers; Compensatory Arrangements of Certain Officers.

On August 19, 2026, First Community Corporation (the “Company”),

the holding company for First Community Bank (the “Bank”), and the Bank announced that Freddie Deutsch has notified the Company

and the Bank of his decision to retire from his position as Director of Specialty Business Lending of the Bank, effective January 15,

2027 (the “Retirement Date”). Mr. Deutsch will also retire from the boards of directors of the Company and the Bank, effective

as of the Retirement Date.

Mr. Deutsch joined the Company and the Bank in connection with the Company’s

acquisition of Signature Bank of Georgia, which was completed on January 8, 2026, and was engaged to assist with the integration and transition

of the acquired business and with the development of the Bank’s Small Business Administration lending line of business. Having substantially

completed those objectives, Mr. Deutsch has elected to retire. Mr. Deutsch’s retirement is voluntary and is not in connection with,

or in response to, the management succession and leadership transition previously announced by the Company on July 22, 2026. Mr. Deutsch’s

retirement is not the result of any disagreement with the Company or the Bank on any matter relating to the Company’s or the Bank’s

operations, policies or practices.

In connection with Mr. Deutsch’s retirement, the Company, the Bank

and Mr. Deutsch have entered into a letter amendment (the “Letter Amendment”) to Mr. Deutsch’s Employment Agreement,

dated July 13, 2025 (the “Employment Agreement”), which confirms the terms of his planned retirement and transition. The effectiveness

of the Letter Amendment is conditioned upon Mr. Deutsch’s execution of a general release of claims in favor of the Company and the

Bank effective as of the Retirement Date.

Pursuant to the Letter Amendment, from the date of the Letter Amendment

through the Retirement Date, Mr. Deutsch will serve in an advisory role and will make himself reasonably available to assist the Bank

as requested, and he will no longer serve as Director of Specialty Business Lending. Mr. Deutsch will continue to be treated as a full-time

employee of the Bank during this transition period, and his current base salary and employee benefits will remain unchanged. The Letter

Amendment further provides that Mr. Deutsch will receive the first $50,000 installment of the retention bonus, together with the related

carve back payment, as described in the Employment Agreement, and that the remaining retention bonus installments will be forfeited as

of the Retirement Date. Mr. Deutsch will remain eligible for an award under the Bank’s 2026 incentive plan, subject to the terms

of the plan, and his outstanding equity award will be treated in accordance with its terms, with all unvested shares forfeited as of the

Retirement Date. The Letter Amendment also provides for Bank-subsidized health coverage for up to 18 months following the Retirement Date.

Except as expressly modified by the Letter Amendment, the Employment Agreement

will remain unchanged and continue in full force and effect, including, without limitation, all restrictive covenants, confidentiality,

non-solicitation, non-competition and other post-employment obligations contained therein.

The foregoing description of the Letter Amendment does not purport to be

complete and is qualified in its entirety by reference to the full text of the Letter Amendment, a copy of which is filed as Exhibit 10.1

to this Current Report on Form 8-K and is incorporated herein by reference.

FORWARD-LOOKING STATEMENTS

Certain statements in this Current Report on Form 8-K may contain “forward-looking

statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to future plans,

goals, projections and expectations, including statements regarding Mr. Deutsch’s planned retirement and transition, the effectiveness

of the Letter Amendment and the related general release, the transition of Mr. Deutsch’s responsibilities, and the anticipated effect

of his retirement on the Bank’s specialty business lending and Small Business Administration lending activities. Forward-looking

statements can be identified by words such as “anticipate,” “expect,” “intend,” “believe,”

“may,” “likely,” “will,” “plan,” “position,” “future,” “forward,”

or other statements that indicate future periods. Such forward-looking statements are subject to risks, uncertainties and other factors

that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Such

risks, uncertainties and other factors include, among others, the following: (1) the risk that Mr. Deutsch’s retirement and the

transition of his responsibilities may adversely affect the Bank’s client and referral relationships, including relationships associated

with the acquired Signature Bank of Georgia business and the Bank’s Small Business Administration lending line of business; (2)

the ability of the Bank to retain key employees and maintain business continuity during and following the transition period; (3) the risk

that the Letter Amendment and the related general release may not become effective in accordance with their terms; (4) the diversion of

management’s time and attention in connection with the transition; and (5) other risks, uncertainties and factors described in the

Company’s reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K, Quarterly Reports

on Form 10-Q and Current Reports on Form 8-K.

All subsequent written and oral forward-looking statements by the Company

or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. The foregoing review

of important factors should not be construed as exhaustive and should be read in conjunction with other cautionary statements included

herein and in the Company’s other filings with the Securities and Exchange Commission. The Company undertakes no obligation to update

or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Item

Exhibits

10.1

Letter Amendment to Employment Agreement, dated August 19, 2026, by and among First Community Bank, First Community Corporation and Freddie Deutsch.

104

Cover Page Interactive Data File (embedded

within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities

Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

FIRST

COMMUNITY CORPORATION

By:

/s/

D. Shawn Jordan

Name:

Shawn Jordan

Title:

Chief

Financial Officer

Dated: August 19, 2026

EX-10.1

Filename: e26356_ex10-1.htm · Sequence: 2

Exhibit 10.1

5455 Sunset Blvd.

Lexington, SC 29072

(803) 951.2265

Fax (803) 358.6900

PO Box 64

Lexington, SC 29071

www.firstcommunitysc.com

August 19, 2026

Freddie Deutsch

Via Email

Re: Acceptance of Notice of Retirement and Letter Amendment to the Employment

Agreement

Dear Freddie:

On behalf of First Community Bank and First Community Corporation, I want

to thank you for your many contributions to the Bank and for your willingness to work collaboratively with us on a retirement transition

plan.

We acknowledge and accept your decision to retire and appreciate your commitment

to helping ensure a smooth and successful transition. During our recent discussions, we worked together to develop a transition structure

that recognizes your years of service while also providing the Bank continued access to your experience, relationships, and institutional

knowledge through your retirement date. Consistent with those discussions, this letter confirms our mutual agreement regarding your planned

retirement from First Community Bank and amends your Employment Agreement dated July 13, 2025 (the "Employment Agreement").

In recognition of your request to retire and your many contributions to

the Bank, and conditioned upon and in consideration for your execution of a general release in favor of the Bank and the Company effective

as of your Retirement Date, the parties agree to amend the terms of your Employment Agreement (this "Letter Amendment") as follows:

1. Retirement Date. Your employment with the

Bank and service as a member of the boards of directors of the Bank and First Community Corporation will end upon your retirement effective

January 15, 2027 (your “Retirement Date”). You acknowledge and agree that your notice of retirement is voluntary and that

neither this Letter Amendment, nor any change in your duties during the transition period to your Retirement Date will constitute “Good

Reason” under your Employment Agreement.

2. Transition Period. From the date of this

letter through January 15, 2027, you will serve in an advisory role to the Bank and will make yourself reasonably available to assist

with matters and questions as requested. During this period, you will no longer serve as Director of Specialty Business Lending. Your

work schedule will be flexible, but you will continue to be treated as a full-time employee of the Bank.

Page 2 of 3

3. Compensation and Benefits. Your current base

salary and employee benefits will remain unchanged during the transition period.

4. Retention Bonus and Carve Back Payment. You

will receive the first $50,000 payment of the Retention Bonus and the Carve Back amount of $100,000, as each are described in Section

3(b) of the Employment Agreement, in the time and manner described therein. The remaining two Retention Bonus payment amounts will be

forfeited upon your Retirement Date.

5. 2026 Incentive Plan and Equity Grants. You

will remain eligible for an incentive award under the Bank's 2026 incentive plan based on actual performance and subject to the terms

of the plan. Your restricted stock grant for 2,500 shares of Company stock does not vest by its terms until January 8, 2029, and is conditioned

on continuous service through such vesting date. Such restricted stock grant will remain in place through your Retirement Date in accordance

with your grant documents, and all unvested shares as of your Retirement Date will be forfeited on your Retirement Date.

6. Medical Coverage. The COBRA continuation

terms of Section 3(c) of the Employment Agreement are amended to provide that for eighteen (18) months following your retirement date,

if you timely elect COBRA coverage, the Bank will pay the portion of the premium that the Bank would otherwise contribute toward your

individual coverage, and you will be responsible for the employee portion of such premium and the cost of any spousal coverage. If you

elect coverage through the health insurance marketplace rather than COBRA, the Bank will reimburse you monthly in an amount equal to the

contribution the Bank would have made toward your individual COBRA coverage, but such amount will be subject to withholding.

7. Continuing Effect of Employment Agreement.

Except as expressly set forth in this letter, the Employment Agreement shall remain unchanged and continue in full force and effect, including,

without limitation, all restrictive covenant, confidentiality, non-solicitation, non-competition, and other post-employment obligations

contained therein.

If this Letter Amendment to your Employment Agreement accurately reflects

our understanding, please sign where indicated on the signature page, and return it to me at your earliest convenience. This Letter Amendment

may be executed in counterparts, each of which shall be deemed an original, and all of which together shall constitute one instrument.

Warm regards,

Ted Nissen

Page 3 of 3

IN WITNESS WHEREOF, the Parties have executed this Letter Amendment as

of the day and year first set forth above.

FIRST COMMUNITY BANK

By: /s/ Ted Nissen

Ted Nissen

President and CEO

FIRST COMMUNITY CORPORATION

By: /s/ Michael Crapps

Michael Crapps

President and CEO

EXECUTIVE

/s/ Freddie Deutsch

Freddie Deutsch

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