D. Shawn Jordan
About D. Shawn Jordan
D. Shawn Jordan, 57, is Executive Vice President and Chief Financial Officer of First Community Corporation (FCCO) and First Community Bank, serving as CFO since January 2020 and EVP since November 2019; he holds a BA in Economics from Centre College and an MBA from Eastern Kentucky University . He brings 33 years of banking leadership across corporate analytics, strategic planning, reporting, balance sheet management (capital, liquidity, interest rate risk), CECL modeling, regulatory relations, wealth management, valuation, and M&A, with prior roles at IBERIABANK (SVP, Corporate Analytics; 2018–2019), AloStar Bank of Commerce (EVP & CFO; 2011–2017), and State Bank Financial (2017–2018) . Under FCCO’s performance framework, PRSU metrics include relative total shareholder return (TSR), ROAE vs peer banks, and non-performing assets vs peers, with historical outcomes of TSR 137.81% of the index for 2021 PRSUs and 601.68% of the index for 2022 PRSUs, and 2022 PRSUs vesting at 128.5% of target (19.275% of base salary) . Company performance during his tenure includes YTD 2025 net income up 47.8% vs 2024, diluted EPS up 46.8%, sixth consecutive quarter of NIM expansion to 3.27%, deposit growth and record $1.103B AUM; quarterly net income was $5.192M with diluted EPS $0.67 in Q3 2025 .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| IBERIABANK | SVP & Manager of Corporate Analytics | Apr 2018–Nov 2019 | Led analytics, planning, forecasting, reporting; supported balance sheet and performance management |
| AloStar Bank of Commerce | EVP & Chief Financial Officer | Oct 2011–Oct 2017 | CFO responsibilities across capital/liquidity, interest rate risk, reporting; bank merged into State Bank Financial |
| State Bank Financial Corporation | Post-merger finance role | Oct 2017–Mar 2018 | Continued finance responsibilities post-merger integration until Mar 2018 |
External Roles
No public company directorships or external board roles disclosed for Jordan in FCCO filings; he is a member of the bank’s Executive Leadership Team .
Fixed Compensation
Multi-year compensation (USD):
| Metric | 2021 | 2022 | 2024 |
|---|---|---|---|
| Salary ($) | 245,000 | 253,000 | 276,000 |
| Bonus ($) | — | — | — |
| Stock Awards ($) | 70,502 | 73,500 | 92,750 |
| Option Awards ($) | — | — | — |
| Non-Equity Incentive Plan Compensation ($) | 104,222 | 77,194 | 113,261 |
| Non-qualified Deferred Compensation Earnings ($) | 29,186 | 30,493 | 33,693 |
| All Other Compensation ($) | 10,923 | 11,334 | 13,145 |
| Total ($) | 459,833 | 445,521 | 528,849 |
2024 “All Other Compensation” breakdown:
| Component | Amount ($) |
|---|---|
| 401(k) Match | 10,967 |
| Country Club Dues | 900 |
| Life Insurance Premiums | 1,278 |
| Total | 13,145 |
Performance Compensation
Annual cash incentive plan (structure and 2024 metrics):
| Plan Component | Details |
|---|---|
| Eligibility trigger | ≥80% of budgeted net core income and internal soundness measure met; achieved in 2024 |
| Metrics | Efficiency ratio (core), net interest income, loan portfolio growth, total customer deposit growth; ROAA modifier |
| Payout levels (as % of base salary) | Threshold 15%; Target 30%; Stretch 45%; Maximum 60% (pro-rata between levels) |
2024 equity awards (granted Feb 20, 2024):
| Award Type | Grant Date | Units | Vesting | Grant-date Fair Value ($) |
|---|---|---|---|---|
| TRSUs | 02/20/2024 | 2,212 | Cliff vest at 3 years | Included in total $92,750 |
| PRSUs (target) | 02/20/2024 | 2,949 | 3-year performance period; metrics TSR vs indices, ROAE vs peers, NPA vs peers; accelerated vesting only under specified conditions | Included in total $92,750 |
Results of 2022 PRSU Awards (vested Feb 18, 2025):
| Metric | Weight (%) | Threshold | Target | Maximum | Actual Performance |
|---|---|---|---|---|---|
| Total Opportunity as % of Base Salary | — | 7.50% | 15.00% | 22.50% | 19.275% |
| Total Shareholder Return (relative to Index) | 33.33% | 75% of Index | Index | 125% of Index | 601.68% of Index |
| Return on Average Equity (peer percentile) | 33.33% | 30th | 50th | 75th | 45th percentile |
| Non-Performing Assets (peer percentile) | 33.33% | 30th | 50th | 75th | 74th percentile |
Option awards: None outstanding for Jordan (no exercisable or unexercisable options) .
Stock vested in 2024:
| Metric | 2024 |
|---|---|
| Shares Acquired on Vesting (#) | 4,516 |
| Value Realized on Vesting ($) | 75,686 |
Equity Ownership & Alignment
Beneficial ownership (as of March 27, 2025):
| Item | Value |
|---|---|
| Shares owned | 7,858 |
| % of shares outstanding | 0.10% (out of 7,681,600 shares) |
| Right to acquire within 60 days | None |
Outstanding equity awards at 12/31/2024:
| Item | Quantity | Market/Payout Value ($) |
|---|---|---|
| Unvested time-based RSUs (TRSUs) | 5,838 | 140,112 (at $24.00/share) |
| Unvested PRSUs (at target) | 7,699 | 184,776 (at $24.00/share) |
| Stock options (exercisable/unexercisable) | — | — |
Scheduled vesting cadence (units):
| Vest Date | Units (TRSUs/Restricted Stock) |
|---|---|
| Feb 17, 2025 | 1,756 |
| Feb 21, 2026 | 1,870 |
| Feb 20, 2027 | 2,212 |
Alignment policies:
- Stock ownership guidelines: Executive Leadership Team members must own at least 2× annual base salary; no sales permitted until threshold satisfied; up to 50% of vested awards may be sold/surrendered to satisfy withholding .
- Hedging and pledging: Hedging prohibited; pledging and margin accounts prohibited, with limited grandfathered exception as of Feb 18, 2025; no pledging disclosure for Jordan .
Employment Terms
| Term | Details |
|---|---|
| Agreement date | Employment agreement dated Nov 12, 2019 |
| Role | EVP & CFO of the company and the bank |
| Term | Initial 3-year term; auto-extends daily to maintain 3-year remaining term, unless fixed by notice |
| Base salary | Reviewed annually; eligible for annual incentive based on board-established criteria |
| Severance (without cause) | 60th day post-termination: payment equal to 2× current monthly base salary; thereafter first day of each of next 10 months: 100% of current monthly base salary; plus any earned/accrued bonus |
| Non-compete / non-solicit | During employment and 12 months thereafter; confidentiality protections included |
| Change-in-control (CIC) – Qualifying Termination (double trigger) | If terminated without cause or resigns for good reason upon/within 2 years post-CIC: cash equal to 2× current annual base salary; payment of earned bonus; immediate vesting/removal of restrictions on outstanding incentive awards |
| CIC benefits | COBRA: employee portion only; company pays 6× initial monthly share of employer premiums on day 60; benefit ceases upon ACA-compliant coverage from subsequent employer; reimbursement of “portable” life insurance premiums for 2 years post-termination if elected |
| Equity plan governance | Plan prohibits option/SAR repricing; requires double-trigger vesting on CIC for replacement awards; best-practice treatment if awards not continued/replaced; no dividends on unvested performance awards |
| Clawback | Incentive Compensation Recovery Policy effective Sept 19, 2023; mandatory recovery of erroneously awarded incentive comp over prior 3 completed fiscal years in event of restatement; no indemnification |
Supplemental retirement:
- Salary continuation agreements in place for executives Crapps, Nissen and Jordan; benefits payable at normal retirement age over a prescribed period; 100% accrual balance paid upon death in service; vesting schedule outlined; BOLI used to offset cost .
Investment Implications
- Pay-for-performance alignment: Annual bonuses and PRSUs are linked to core financial metrics (efficiency, net interest income, loan/deposit growth, ROAA modifier) and multi-factor PRSUs (TSR, ROAE, NPA vs peers), with 2022 PRSUs paying above target (128.5%)—indicates strong linkage to outcomes and upside sensitivity to market-relative TSR .
- Selling pressure and vesting cadence: No options outstanding; RSUs vest on a cliff schedule with sizeable tranches in Feb 2026 and Feb 2027; policy permits up to 50% of vested shares for tax withholding which can cause predictable sale flows around vest dates, but prohibitions on pledging/hedging limit speculative activity .
- Ownership alignment: Direct beneficial ownership is modest at 0.10% of shares outstanding; unvested RSUs represent meaningful exposure; ownership guideline of 2× salary supports retention and alignment, though compliance status is not disclosed .
- Retention and CIC economics: Evergreen 3-year term and 2× salary CIC severance with double-trigger vesting underpin retention while moderating change-of-control costs; absence of tax gross-ups and plan-level repricing prohibitions are shareholder-friendly .
- Execution track record: Company fundamentals under Jordan’s CFO tenure show improving net income and margin expansion in 2025, record AUM, and deposit mix gains—supportive of incentive realizations and a constructive signal for continued equity-linked compensation outcomes .