Jan H. Hollar
About Jan H. Hollar
Independent Class I director at First Community Corporation (FCCO) since May 2021; age 69 as of the 2025 proxy. Retired banker and licensed CPA (SC, emeritus; NC, retired) with 40 years in community banking, including CFO roles at four banks and CEO/board service at HCSB Financial (Nasdaq: HCFB). Furman University B.A. in economics & business administration (accounting concentration). Resides in Greenville and Myrtle Beach, SC.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| HCSB Financial Corp. and Horry County State Bank | CEO and Director; Consulting CEO | Consulting CEO Oct 2015–Apr 2016; CEO/Director Apr 2016–Jul 2017 (acquired Jul 2017) | Hired to rebuild and recapitalize the bank |
| Jan H. Hollar, CPA, PC | Owner (accounting consulting for financial institutions) | 2008–2017 | Provided bank operations/finance consulting |
| Myrtle Beach Area Chamber of Commerce | Interim CEO | May–Aug 2018 | Transitional leadership |
| Four community banks | Chief Financial Officer | Various years | Directed finance, accounting, HR, technology, facilities, strategic planning, shareholder relations |
| South Carolina Banker’s School | Instructor | Not specified | Industry education |
External Roles
| Organization | Role | Tenure |
|---|---|---|
| Public company boards (current) | None disclosed | N/A |
| Community/Philanthropy | Lily Pad Haven; Kajiado Children’s Home ministry | Prior involvement (dates not specified) |
Board Governance
- Independence: Board determined Hollar is independent under Nasdaq standards (majority of board independent) .
- Committees: Audit Committee member; audit met 5 times in 2023 and 5 times in 2024; chaired by Jane S. Sosebee (post‑Feb 2024) .
- Attendance: Each director attended ≥75% of combined board and committee meetings in 2023 and 2024; board met 15 times in 2023 and 12 times in 2024; seven directors attended the annual meeting in person each year .
- Board leadership: Independent chair (C. Jimmy Chao); separate CEO/Chair roles for oversight effectiveness .
- Risk oversight: Audit committee oversees internal control, financial reporting, ERM, cybersecurity; reports to Board .
Fixed Compensation
Director pay structure and Hollar’s realized compensation:
- 2023 structure: Chair retainer $14,500; chair retainers (ALCO/audit/comp/nom) $11,000; loan chair $13,500; outside director retainer $9,500; board meeting fees $1,000 (outside directors; chairman $1,350); committee meeting fees $500; audit committee meeting fee $750; restricted stock grants to each non-employee director: 690 shares on Feb 21, 2023 at $20.29/share (vested Jan 1, 2024) .
- 2024 structure (disclosed in 2025 proxy): Chair retainer $14,500; chair retainers (ALCO/audit/comp/nom) $11,500; loan chair $13,500; outside director retainer $9,500; board fee $1,000; committee fee $500; audit committee fee $750; restricted stock grants: 1,224 shares to each non-employee director on Feb 20, 2024 at $17.97/share (vested Jan 1, 2025) .
| Metric | 2023 | 2024 |
|---|---|---|
| Fees Earned or Paid in Cash ($) | 32,750 | 26,500 |
| Stock Awards ($) | 14,000 | 21,995 |
| Total ($) | 46,750 | 48,495 |
Performance Compensation
Non-employee directors do not receive performance-based equity; awards are time-based restricted stock with annual grants.
| Grant Date | Instrument | Shares | Grant-Date Fair Value/Share | Vest Date |
|---|---|---|---|---|
| Feb 21, 2023 | Restricted Stock | 690 | $20.29 | Jan 1, 2024 |
| Feb 20, 2024 | Restricted Stock | 1,224 | $17.97 | Jan 1, 2025 |
- Deferred compensation: Directors may defer retainers/fees into share units; Hollar is not listed among directors with fee deferrals in 2023 or 2024 (tables disclose Brown, Chao, Kitchens, Snipe, Tarver) .
Other Directorships & Interlocks
| Company | Type | Role | Notes |
|---|---|---|---|
| HCSB Financial Corporation (Nasdaq: HCFB) | Public | CEO and Director | Served until acquisition in July 2017; no current public company boards disclosed |
- No shared directorships disclosed that indicate interlocks with FCCO competitors/suppliers/customers. Independence determinations address Layden-related transactions; none for Hollar .
Expertise & Qualifications
- CPA (SC emeritus; NC retired); prior CFO experience across four community banks; leadership in operations: finance, accounting, deposits, loans, HR, IT, facilities, strategic planning, shareholder relations .
- Instructor at South Carolina Banker’s School; rebuilding/recapitalization expertise from HCSB turnaround .
Equity Ownership
- Ownership guidelines: Directors prior to Feb 21, 2023 must own minimum 10,000 shares; no set compliance period, but cannot sell company stock until meeting threshold. Deferred units count toward ownership. New directors (on/after Feb 21, 2023) must own 1,000 immediately, 5,000 within five years, and 10,000 to sell stock .
- Hollar ownership and alignment:
| As-Of Date | Shares Owned | Right to Acquire (within 60 days) | Beneficial Ownership % |
|---|---|---|---|
| Mar 28, 2024 | 6,583 | 0 | 0.09% |
| Mar 27, 2025 | 7,423 | 0 | 0.10% |
- Section 16 compliance: Company stated all insiders’ reports were timely in 2024 except CFO’s single late Form 4; no issues noted for Hollar .
Governance Assessment
-
Board effectiveness: Hollar strengthens audit oversight and financial literacy; independent status and audit committee service support robust controls/Risk oversight (Audit met 5× in 2023 and 5× in 2024) .
-
Engagement: Meets attendance threshold (≥75% of combined meetings); board met 15× in 2023 and 12× in 2024; annual meeting attendance by seven directors indicates engagement norms .
-
Compensation alignment: Mixed cash/equity director compensation; consistent use of annual restricted stock promotes long-term alignment; no director options or performance equity to encourage risk-taking .
-
Ownership alignment: As of Mar 27, 2025, Hollar held 7,423 shares vs. 10,000-share guideline for pre‑2023 directors; deferred units would count if elected (none disclosed for Hollar). The policy restricts selling until threshold met, mitigating misalignment risk .
-
Related-party/conflicts: No Hollar-specific related-party transactions disclosed. Aggregate loans to directors/officers were ~$1.1 million at Dec 31, 2023, made at market terms; individual detail not provided, and policy/procedures review conducted annually by nominating committee .
-
RED FLAGS
- Potential ownership shortfall vs. 10,000-share guideline (pre‑2023 directors), though mitigated by no selling until threshold is met; monitoring recommended .
- No other red flags identified for Hollar (no related-party items; no Section 16 issues; no hedging/short sales allowed under Insider Trading Policy) .
Overall signal: Independent audit committee member with deep banking and CFO expertise; compensation and equity grants are standard for FCCO directors, with improving share ownership trend from 2024 to 2025; continue monitoring guideline compliance and committee workload/attendance disclosures.