What changed in this filing

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Item 5. Market for Registrant’s Common Equity

2026-02-24 compared with 2025-03-03 · 34 added, 25 removed, 45 unchanged (57% of the section changed)

Market for Common Equity, Related Shareholder

Matters and Issuer Purchases of Equity Securities.

Market for Common Equity, Related

Shareholder Matters and Issuer Purchases of Equity Securities.

Market Information and Holders of Record

Our common stock is currently traded on the NASDAQ

Global Market under the symbol “SFST.” We had approximately 3,100 shareholders of record on February 13, 2025.

Global Market under the symbol “SFST.” We had approximately 7,235 beneficial shareholders as of January 20, 2026.

We have not declared or paid any cash dividends on

19 unchanged sentences

dividends in 2006, 2011, 2012, and 2013.

Plan Category

Number of securities

of securities

to be issued upon

5 unchanged sentences

warrants and rights

Number of securities

of securities

remaining available for

2 unchanged sentences

plans (c) (excluding

securities reflected in

Equity compensation plans approved by security holders

2 unchanged sentences

2020 Equity Incentive Plan (2)

the terms of the 2010 and 2016 Plans no further incentive stock option awards may be granted;

however, the Plans will remain in effect

until all awards have been exercised or forfeited and we determine to terminate the Plans.

2020 Equity Incentive Plan provides for shares to be issued as either stock options or restricted stock grants.

weighted-average exercise prices in this column are based on outstanding options and do not take into account unvested awards of restricted

stock as these awards do not have an exercise price.

Under the terms of the 2010 and 2016 Plans no further incentive stock option awards may be granted;

however, the Plans will remain in effect until all awards have been exercised or forfeited, and we determine to terminate the Plans.

The 2020 Equity Incentive Plan provides for shares to be issued as either stock options or restricted stock grants.

The weighted-average exercise prices in this column are based on outstanding options and do not take into account unvested awards of restricted stock as these awards do not have an exercise price.

Stock Performance Graph

The performance graph below compares the Company’s

cumulative total return over the most recent five-year period with the SNL Southeast Bank Index, a banking industry performance index

for the southeastern United States, and the Russell

2000 Index, a small-cap stock market index which the

Company was added to in June 2016.

Returns are shown on a total return basis, assuming the reinvestment of dividends and a beginning stock

index value of $100 per share.

The following performance graph does not constitute soliciting

material and should not be deemed filed or incorporated by reference into any other Company filing under the Securities Act of 1933 or

the Securities Exchange Act of 1934, except to the extent that we specifically incorporate the performance graphs by reference therein.

Period Ending

cumulative total return over the most recent five-year period with the S&P US BMI Banks – Southeast Bank Index, a banking industry

performance index for the southeastern United States, and the Russell 2000 Index, a small-cap stock market index which the Company was

added to in June 2016.

Returns are shown on a total return basis, assuming the reinvestment of dividends and a beginning stock index value

of $100 per share.

The following performance graph does not constitute soliciting material

and should not be deemed filed or incorporated by reference into any other Company filing under the Securities Act of 1933 or the Securities

Exchange Act of 1934, except to the extent that we specifically incorporate the performance graphs by reference therein.

Southern First Bancshares

3 unchanged sentences

Stock Repurchases

The Company does not have a current repurchase plan

and, as such, future repurchases will require additional approval of our Board of Directors and the Federal Reserve.

On June 17, 2025, we announced a share repurchase

plan allowing us to repurchase up to $5.0 million of shares of our common stock (the “Repurchase Plan”).

As of December 31,

2025, we have not repurchased any of the shares authorized for repurchase under the Repurchase Plan.

The Company is not obligated to purchase

any such shares under the Repurchase Plan, and the Repurchase Plan may be discontinued, suspended or restarted at any time.

Additionally,

repurchases under the Repurchase Plan after May 22, 2026 would require additional approval of our Board of Directors and the Federal Reserve.

The following table reflects share repurchase activity

during the fourth quarter of 2025:

Dollar Value) of

Units) that May

Part of Publicly

Price Paid per

Under the Plans

Share (or Unit)

October 1, 2025 – December 31, 2025

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity