<SEC-DOCUMENT>0001206774-21-000107.txt : 20210115
<SEC-HEADER>0001206774-21-000107.hdr.sgml : 20210115
<ACCEPTANCE-DATETIME>20210115160922
ACCESSION NUMBER:		0001206774-21-000107
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20210115
DATE AS OF CHANGE:		20210115
EFFECTIVENESS DATE:		20210115

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SOUTHERN FIRST BANCSHARES INC
		CENTRAL INDEX KEY:			0001090009
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				582459561
		STATE OF INCORPORATION:			SC
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-252143
		FILM NUMBER:		21532183

	BUSINESS ADDRESS:	
		STREET 1:		100 VERDAE BOULEVARD
		STREET 2:		SUITE 100
		CITY:			GREENVILLE
		STATE:			SC
		ZIP:			29607
		BUSINESS PHONE:		8646799000

	MAIL ADDRESS:	
		STREET 1:		100 VERDAE BOULEVARD
		STREET 2:		SUITE 100
		CITY:			GREENVILLE
		STATE:			SC
		ZIP:			29607

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GREENVILLE FIRST BANCSHARES INC
		DATE OF NAME CHANGE:	19990707
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>sfb3856841-s8.htm
<DESCRIPTION>INITIAL REGISTRATION STATEMENT FOR SECURITIES TO BE OFFERED TO EMPLOYEES
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<P style="TEXT-ALIGN: center"><B><FONT size=3 face="Times New Roman">UNITED STATES<BR></FONT></B><B><FONT size=3 face="Times New Roman">SECURITIES AND EXCHANGE COMMISSION<BR></FONT></B><FONT size=2 face="Times New Roman">WASHINGTON, D.C. 20549<BR></FONT><FONT size=2 face="Times New Roman">________________</FONT></P>
<P style="TEXT-ALIGN: center"><B><FONT size=5 face="Times New Roman">FORM S-8</FONT></B></P>
<P style="TEXT-ALIGN: center"><B><FONT size=3 face="Times New Roman">REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933<BR></FONT></B><FONT size=2 face="Times New Roman">________________</FONT></P>
<P style="TEXT-ALIGN: center"><B><FONT size=4 face="Times New Roman">Southern First Bancshares, Inc.<BR></FONT></B><FONT size=2 face="Times New Roman">(Exact name of registrant as specified in its charter)</FONT></P>
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   <TD width="50%" noWrap align=center><FONT size=2 face="Times New Roman">South Carolina</FONT></TD>
   <TD width="50%" noWrap align=center><FONT size=2 face="Times New Roman">58-2459561</FONT></TD></TR>
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   <TD width="50%" noWrap align=center><FONT size=2 face="Times New Roman">(State or other jurisdiction of</FONT></TD>
   <TD width="50%" noWrap align=center><FONT size=2 face="Times New Roman">(I.R.S. Employer</FONT></TD></TR>
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   <TD width="50%" noWrap align=center><FONT size=2 face="Times New Roman">incorporation or organization)</FONT></TD>
   <TD width="50%" noWrap align=center><FONT size=2 face="Times New Roman">Identification Number)</FONT></TD></TR></TABLE>

<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">100 Verdae Boulevard, Suite 100<BR>Greenville, South Carolina 29607<BR>(864) 679-9000<BR></FONT><FONT size=2 face="Times New Roman">(Address, including zip code, and telephone number, including area code, of principal executive offices)</FONT></P>
<P style="TEXT-ALIGN: center"><B><FONT size=4 face="Times New Roman">Southern First Bancshares, Inc. 2020 Equity Incentive Plan<BR></FONT></B><FONT size=2 face="Times New Roman">(Full title of the plan)</FONT></P>
<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">R. Arthur Seaver, Jr.<BR>Chief Executive Officer<BR>100 Verdae Boulevard, Suite 100<BR>Greenville, South Carolina 29607<BR>(864) 679-9000<BR></FONT><FONT size=2 face="Times New Roman">(Name, address, and telephone number of agent for service)<BR>________________________________<BR>Copies to:</FONT></P>
<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">Benjamin A. Barnhill, Esq.<BR></FONT><FONT size=2 face="Times New Roman">Nelson Mullins Riley &amp; Scarborough LLP<BR>2 West Washington Street<BR>Suite 400<BR>Greenville, South Carolina 29601<BR>Telephone: (864) 250-2246<BR>________________________________</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; and &#8220;smaller reporting company&#8221; in Rule 12b-2 of the Exchange Act.</FONT></P>
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   <TD width="5%" noWrap align=left><FONT size=2 face="Times New Roman">Large accelerated filer</FONT></TD>
   <TD STYLE="width: 60%; white-space: nowrap; text-align: left; padding-left: 8pt"><FONT size=2 face="Times New Roman">&#9744;</FONT></TD>
   <TD width="5%" noWrap align=left><FONT size=2 face="Times New Roman">Accelerated filer</FONT></TD>
   <TD STYLE="width: 30%; white-space: nowrap; text-align: left; padding-left: 8pt"><FONT size=2 face="Times New Roman">&#9746;</FONT></TD></TR>
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   <TD width="5%" noWrap align=left><FONT size=2 face="Times New Roman">Non-accelerated filer</FONT></TD>
   <TD STYLE="width: 60%; white-space: nowrap; text-align: left; padding-left: 8pt"><FONT size=2 face="Times New Roman">&#9744;</FONT></TD>
   <TD width="5%" noWrap align=left><FONT size=2 face="Times New Roman">Smaller reporting company</FONT></TD>
   <TD STYLE="width: 30%; white-space: nowrap; text-align: left; padding-left: 8pt"><FONT size=2 face="Times New Roman">&#9746;</FONT></TD></TR>
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   <TD width="5%" noWrap align=left></TD>
   <TD STYLE="width: 60%; white-space: nowrap; text-align: left; padding-left: 8pt"></TD>
   <TD width="5%" noWrap align=left><FONT size=2 face="Times New Roman">Emerging Growth Company</FONT></TD>
   <TD STYLE="width: 30%; white-space: nowrap; text-align: left; padding-left: 8pt"><FONT size=2 face="Times New Roman">&#9744;</FONT></TD></TR></TABLE>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">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 7(a)(2)(B) of Securities Act. &#9744;</FONT></P>

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   <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 4pt; border-right: Black 1pt solid; width: 40%; white-space: nowrap; text-align: center; border-top: Black 3pt double; padding-left: 4pt"><B><FONT size=2 face="Times New Roman">Title of securities<BR>to be registered</FONT></B></TD>
   <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 4pt; border-right: Black 1pt solid; width: 15%; white-space: nowrap; text-align: center; border-top: Black 3pt double; padding-left: 4pt"><B><FONT size=2 face="Times New Roman">Amount to be<BR>Registered</FONT></B></TD>
   <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 4pt; border-right: Black 1pt solid; width: 15%; white-space: nowrap; text-align: center; border-top: Black 3pt double; padding-left: 4pt"><B><FONT size=2 face="Times New Roman">Proposed<BR>maximum<BR>offering price<BR>per Share<SUP>(1)</SUP></FONT></B></TD>
   <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 4pt; border-right: Black 1pt solid; width: 15%; white-space: nowrap; text-align: center; border-top: Black 3pt double; padding-left: 4pt"><B><FONT size=2 face="Times New Roman">Proposed<BR>maximum<BR>aggregate<BR>offering price<SUP>(1)</SUP></FONT></B></TD>
   <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; padding-right: 4pt; border-right: Black 1pt solid; width: 15%; white-space: nowrap; text-align: center; border-top: Black 3pt double; padding-left: 4pt"><B><FONT size=2 face="Times New Roman">Amount of<BR>registration fee<SUP>(2)</SUP></FONT></B></TD></TR>
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   <TD STYLE="padding-right: 4pt; border-left: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; width: 40%; text-align: left; padding-left: 4pt"><FONT size=2 face="Times New Roman">Common Stock, par value $0.01 per share</FONT></TD>
   <TD STYLE="padding-right: 4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; width: 15%; white-space: nowrap; text-align: center; padding-left: 4pt"><FONT size=2 face="Times New Roman">450,000<SUP>(3)</SUP></FONT></TD>
   <TD STYLE="padding-right: 4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; width: 15%; white-space: nowrap; text-align: center; padding-left: 4pt"><FONT size=2 face="Times New Roman">$38.34</FONT></TD>
   <TD STYLE="padding-right: 4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; width: 15%; white-space: nowrap; text-align: center; padding-left: 4pt"><FONT size=2 face="Times New Roman">$17,253,000</FONT></TD>
   <TD STYLE="padding-right: 4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; width: 15%; white-space: nowrap; text-align: center; padding-left: 4pt"><FONT size=2 face="Times New Roman">$1,882.30</FONT></TD></TR></TABLE>
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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; padding-right: 8pt"><FONT size=2 face="Times New Roman">(1)</FONT></TD>
   <TD width="99%">
   <P align=left><FONT size=2 face="Times New Roman">Estimated in accordance with Rule 457(c) and Rule 457(h) under the Securities Act, based on the average of the high and low prices for Southern First Bancshares, Inc.&#8217;s common stock on The NASDAQ Global Market on January 12, 2021, which date is within five business days prior to filing this registration statement.</FONT></P></TD></TR>
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   <TD STYLE="vertical-align: top; white-space: nowrap; padding-right: 8pt">&nbsp;</TD>
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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; padding-right: 8pt"><FONT size=2 face="Times New Roman">(2)</FONT></TD>
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   <P align=left><FONT size=2 face="Times New Roman">Amount of the Registration Fee was calculated pursuant to Section 6(b) of the Securities Act, and was determined by multiplying the aggregate offering price by 0.0001091.</FONT></P></TD></TR>
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   <TD STYLE="vertical-align: top; white-space: nowrap; padding-right: 8pt">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; padding-right: 8pt"><FONT size=2 face="Times New Roman">(3)</FONT></TD>
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   <P align=left><FONT size=2 face="Times New Roman">Represents shares of common stock issuable under the Southern First Bancshares, Inc. 2020 Equity Incentive Plan. In addition to such shares, pursuant to Rule 416(a) under the Securities Act, this registration statement covers an undetermined number of shares of common stock of the registrant that may become issuable to prevent dilution from stock splits, stock dividends or similar transactions with respect to the shares registered hereunder.</FONT></P></TD></TR></TABLE>
<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">EXPLANATORY NOTE</FONT></B></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face="Times New Roman">The purpose of this Form S-8 Registration Statement is to register an aggregate of 450,000 shares of Southern First Bancshares, Inc. (&#8220;we,&#8221; &#8220;our,&#8221; &#8220;us,&#8221; &#8220;Registrant&#8221; or the &#8220;Company&#8221;) common stock, par value $0.01 per share (the &#8220;Common Stock&#8221;), that may be offered pursuant to the Southern First Bancshares, Inc. 2020 Equity Incentive Plan (the &#8220;Plan&#8221;).</FONT></P>
<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">PART I</FONT></B></P>
<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS </FONT></B></P>

<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Times New Roman">Item 1. Plan Information.</FONT></B></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face="Times New Roman">The documents containing the information specified in this Part I will be sent or given by the Company to participants in the Plan as specified by Rule 428(b)(1) under the Securities Act. Such documents need not be filed with the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;) either as part of this registration statement or as prospectuses or prospectus supplements pursuant to Rule 424 under the Securities Act. These documents and the documents incorporated by reference into this registration statement under Item 3 of Part II of this registration statement, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Times New Roman">Item 2. Registrant Information and Employee Plan Annual Information.</FONT></B></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face="Times New Roman">Upon written or oral request, the Company will provide, without charge, the documents incorporated by reference in Item 3 of Part II of this registration statement. The Company will also provide, without charge, upon written or oral request, other documents required to be delivered to employees pursuant to Rule 428(b). Any such request should be directed to Michael D. Dowling at the Company&#8217;s address at 100 Verdae Boulevard, Suite 100, Greenville, South Carolina 29607. The telephone number for Mr. Dowling is (864) 679-9000.</FONT></P>
<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">PART II</FONT></B></P>
<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</FONT></B></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Times New Roman">Item 3. Incorporation of Documents by Reference.</FONT></B></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face="Times New Roman">The following documents previously filed by the Registrant with the SEC are incorporated by reference in this registration statement:</FONT></P>
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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; padding-right: 8pt; padding-left: 15pt"><FONT size=2 face="Times New Roman">(a)</FONT></TD>
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   <P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">Our Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on <A HREF="https://www.sec.gov/Archives/edgar/data/1090009/000120677420000670/sfb35772717-10k.htm" STYLE="-sec-extract: exhibit">March 2, 2020</A>;</FONT></P></TD></TR></TABLE>
<P STYLE="text-indent: 15pt; text-align: center"><FONT size=2 face="Times New Roman">2</FONT></P>
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   <P align=left><FONT size=2 face="Times New Roman">Our Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2020, June 30, 2020 and August 30,2020 filed with the SEC on <A HREF="https://www.sec.gov/Archives/edgar/data/1090009/000120677420001363/sfb35725722-10q.htm" STYLE="-sec-extract: exhibit">April 28, 2020</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1090009/000120677420002273/sfb35772727-10q.htm" STYLE="-sec-extract: exhibit">August 3, 2020</A> and <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1090009/000120677420003003/sfb3823841-10q.htm" STYLE="-sec-extract: exhibit">November 2, 2020</A>, respectively;</FONT></P></TD></TR>
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   <TD STYLE="vertical-align: top; white-space: nowrap; padding-right: 8pt; padding-left: 15pt">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; padding-right: 8pt; padding-left: 15pt"><FONT size=2 face="Times New Roman">(c)</FONT></TD>
   <TD width="99%">
   <P align=left><FONT size=2 face="Times New Roman">Our Current Reports on Form 8-K filed with the SEC on <A HREF="https://www.sec.gov/Archives/edgar/data/1090009/000120677420000228/sfb35772714-8k.htm" STYLE="-sec-extract: exhibit">January 23, 2020</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1090009/000120677420000527/sfb35772716-8k.htm" STYLE="-sec-extract: exhibit">February 19, 2020</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1090009/000120677420000779/sfb35772718-8k.htm" STYLE="-sec-extract: exhibit">March 11, 2020</A>, <A HREF="https://www.sec.gov/Archives/edgar/data/1090009/000120677420001617/sfb35772724-8k.htm" STYLE="-sec-extract: exhibit">May 12, 2020</A>, and <A HREF="https://www.sec.gov/Archives/edgar/data/1090009/000120677420001999/sfb35772725-8k.htm" STYLE="-sec-extract: exhibit">July 2, 2020</A>; and</FONT></P></TD></TR>
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   <TD STYLE="vertical-align: top; white-space: nowrap; padding-right: 8pt; padding-left: 15pt">&nbsp;</TD>
   <TD>&nbsp;</TD></TR>
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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; padding-right: 8pt; padding-left: 15pt"><FONT size=2 face="Times New Roman">(d)</FONT></TD>
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   <P align=left><FONT size=2 face="Times New Roman">The description of the Company&#8217;s Common Stock set forth in our Registration Statement on Form S-3 (File No. 333-237653) filed with the SEC on <A HREF="https://www.sec.gov/Archives/edgar/data/1090009/000120677420001151/sfb35772720-s3.htm" STYLE="-sec-extract: exhibit">April 13, 2020</A>, and any amendment or report filed with the SEC for the purposes of updating such description.</FONT></P></TD></TR></TABLE>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face="Times New Roman">All documents subsequently filed with the SEC by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934 (the &#8220;Exchange Act&#8221;), prior to the filing of a post-effective amendment to this registration statement which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this registration statement and to be part hereof from the date of filing of such documents.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face="Times New Roman">Any statement contained in a document incorporated or deemed to be incorporated by reference in this registration statement shall be deemed to be modified or superseded for purposes of this registration statement to the extent that a statement contained in this registration statement, or in any other subsequently filed document that also is or is deemed to be incorporated by reference in this registration statement, modifies or supersedes such prior statement. Any statement contained in this registration statement shall be deemed to be modified or superseded to the extent that a statement contained in a subsequently filed document that is or is deemed to be incorporated by reference in this registration statement modifies or supersedes such prior statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this registration statement.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Times New Roman">Item 4. Description of Securities.</FONT></B></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face="Times New Roman">Not applicable.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Times New Roman">Item 5. Interests of Named Experts and Counsel.</FONT></B></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face="Times New Roman">Not applicable.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Times New Roman">Item 6. Indemnification of Directors and Officers.</FONT></B></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face="Times New Roman">Under our Amended and Restated Bylaws, as amended (the &#8220;bylaws&#8221;), each of our directors has the right to be indemnified by us to the maximum extent permitted by law against (i) reasonable expenses incurred in connection with any threatened, pending or completed civil, criminal, administrative, investigative or arbitrative action, suit or proceeding seeking to hold the director liable by reason of his or her actions in such capacity and (ii) reasonable payments made by the director in satisfaction of any judgment, money decree, fine, penalty or settlement for which he or she became liable in such action, suit or proceeding. This right to indemnification includes the right to the advancement of reasonable expenses by us, to the maximum extent permitted by law. Under our bylaws, each of our officers who are not directors is entitled to the same indemnification rights, including the right to the advancement of reasonable expenses, which are provided to our directors.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face="Times New Roman">Pursuant to the South Carolina Business Corporation Act (the &#8220;Business Corporation Act&#8221;), a South Carolina corporation has the power to indemnify its directors and officers provided that they act in good faith and reasonably believe that their conduct was lawful and in the corporate interest (or not opposed thereto), as set forth in the Business Corporation Act. Under the Business Corporation Act, unless limited by its articles of incorporation, a corporation must indemnify a director or officer who is wholly successful, on the merits or otherwise, in the defense of any proceeding to which he or she was a party because he or she is or was a director or officer, against reasonable expenses incurred by the director or officer in connection with the proceeding. Our amended and restated articles of incorporation do not contain any such limitations. The Business Corporation Act permits a corporation to pay for or reimburse reasonable expenses in advance of final disposition of an action, suit or proceeding only upon (i) the director&#8217;s certification that he or she acted in good faith and in the corporate interest (or not opposed thereto), (ii) the director furnishing a written undertaking to repay the advance if it is ultimately determined that he or she did not meet this standard of conduct, and (iii) a determination is made that the facts then known to those making the determination would not preclude indemnification under the Business Corporation Act.</FONT></P>
<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">3</FONT></P>
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<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face="Times New Roman">Under our amended and restated articles of incorporation, as amended (the &#8220;articles of incorporation&#8221;), no director will be liable to us or our shareholders for monetary damages for breach of his or her fiduciary duty as a director, to the maximum extent permitted by law.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face="Times New Roman">The Business Corporation Act also empowers a corporation to provide insurance for directors and officers against liability arising out of their positions, even though the insurance coverage may be broader than the corporation&#8217;s power to indemnify. We maintain directors and officers&#8217; liability insurance for the benefit of our directors and officers.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face="Times New Roman">The foregoing is only a general summary of certain aspects of South Carolina law and the Company&#8217;s articles of incorporation and bylaws dealing with indemnification of directors and officers, and does not purport to be complete. It is qualified in its entirety by reference to the detailed provisions of those sections of the South Carolina Business Corporation Act referenced above and the Company&#8217;s articles of incorporation and bylaws.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Times New Roman">Item 7. Exemption from Registration Claimed</FONT></B><FONT size=2 face="Times New Roman">.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face="Times New Roman">Not applicable.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Times New Roman">Item 8. Exhibits.</FONT></B></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face="Times New Roman">The exhibits required to be filed as part of this registration statement are listed in the Exhibit Index attached hereto and are incorporated herein by reference.</FONT></P>
<P style="TEXT-ALIGN: left"><B><FONT size=2 face="Times New Roman">Item 9. Undertakings.</FONT></B></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">(a) The undersigned registrant hereby undertakes:</FONT></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face="Times New Roman">(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</FONT></P>
<P STYLE="margin-left: 30pt; text-indent: 0pt; text-align: left"><FONT size=2 face="Times New Roman">(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;</FONT></P>
<P STYLE="margin-left: 30pt; text-indent: 0pt; text-align: left"><FONT size=2 face="Times New Roman">(ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Securities and Exchange Commission pursuant to Rule 424(b) under the Securities Act if, in the aggregate, the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the effective registration statement; and</FONT></P>
<P STYLE="margin-left: 30pt; text-indent: 0pt; text-align: left"><FONT size=2 face="Times New Roman">(iii) To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">provided, however, that paragraphs (a) (1) (i) and (a) (1) (ii) do not apply if the registration statement is on Form S-8, and the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the registrant pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in this registration statement.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face="Times New Roman">(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face="Times New Roman">(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">(b) The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant&#8217;s annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&#8217;s report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</FONT></P>
<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">4</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: left"><FONT size=2 face="Times New Roman">(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.</FONT></P>
<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">5</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">SIGNATURES</FONT></B></P>
<P STYLE="text-indent: 15pt; text-align: left"><U><FONT size=2 face="Times New Roman">The Registrant</FONT></U><FONT size=2 face="Times New Roman">: Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Greenville, State of South Carolina, on January 15, 2021.</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD width="50%" noWrap align=left><B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD width="50%" colSpan=2 noWrap align=left><B><FONT size=2 face="Times New Roman">SOUTHERN FIRST BANCSHARES, INC.</FONT></B></TD></TR>
<TR>
   <TD width="50%"></TD>
   <TD width="50%" colSpan=2>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="50%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">By:</FONT></TD>
   <TD style="BORDER-BOTTOM: #000000 1pt solid" width="49%" noWrap align=left><FONT size=2 face="Times New Roman">/s/ Michael D. Dowling</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="50%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">Name:&nbsp;&nbsp;</FONT></TD>
   <TD width="49%" noWrap align=left><FONT size=2 face="Times New Roman">Michael D. Dowling</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="50%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman">Title:</FONT></TD>
   <TD width="49%" noWrap align=left><FONT size=2 face="Times New Roman">Chief Financial Officer</FONT></TD></TR></TABLE>

<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman"><A NAME="poa"></A>POWER OF ATTORNEY</FONT></B></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face="Times New Roman">KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Michael D. Dowling with full power of substitution, such person&#8217;s true and lawful attorney-in-fact and agent for such person, with full power and authority to do any and all acts and things and to execute any and all instruments which said attorney and agent determines may be necessary or advisable or required to comply with the Securities Act of 1933 and any rules or regulations or requirements of the Commission in connection with this registration statement. Without limiting the generality of the foregoing power and authority, the powers granted include the power and authority to sign the names of the undersigned officers and directors in the capacities indicated below to this registration statement, to any and all amendments, both pre-effective and post-effective, and supplements to this registration statement, and to any and all instruments or documents filed as part of or in conjunction with this registration statement or amendments or supplements thereof, and each of the undersigned hereby ratifies and confirms that said attorney and agent shall do or cause to be done by virtue hereof. This Power of Attorney may be signed in several counterparts.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face="Times New Roman">Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated:</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD STYLE="width: 40%; white-space: nowrap; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ R. Arthur Seaver, Jr.</FONT></TD>
   <TD width="1%" noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="40%" noWrap align=left><FONT size=2 face="Times New Roman">Director, Chief Executive Officer</FONT></TD>
   <TD width="1%" noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD width="18%" noWrap align=left><FONT size=2 face="Times New Roman">January 15, 2021</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="40%" noWrap align=left><FONT size=2 face="Times New Roman">R. Arthur Seaver, Jr.</FONT></TD>
   <TD width="1%" noWrap align=left><I><FONT size=2 face="Times New Roman"></FONT></I></TD>
   <TD width="40%" noWrap align=left><I><FONT size=2 face="Times New Roman">(Principal Executive Officer)</FONT></I></TD>
   <TD width="1%" noWrap align=left><I><FONT size=2 face="Times New Roman"></FONT></I></TD>
   <TD width="18%" noWrap align=left></TD></TR>
<TR>
   <TD width="100%" colSpan=5>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="width: 40%; white-space: nowrap; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ Michael D. Dowling</FONT></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="40%" noWrap align=left><FONT size=2 face="Times New Roman">Chief Financial Officer</FONT></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="18%" noWrap align=left><FONT size=2 face="Times New Roman">January 15, 2021</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="40%" noWrap align=left><FONT size=2 face="Times New Roman">Michael D. Dowling</FONT></TD>
   <TD width="1%" noWrap align=left><I><FONT size=2 face="Times New Roman"></FONT></I></TD>
   <TD width="40%" noWrap align=left><I><FONT size=2 face="Times New Roman">(Principal Financial and Accounting</FONT></I></TD>
   <TD width="1%" noWrap align=left><I><FONT size=2 face="Times New Roman"></FONT></I></TD>
   <TD width="18%" noWrap align=left></TD></TR>
<TR vAlign=bottom>
   <TD width="40%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left><I><FONT size=2 face="Times New Roman"></FONT></I></TD>
   <TD width="40%" noWrap align=left><I><FONT size=2 face="Times New Roman">Officer)</FONT></I></TD>
   <TD width="1%" noWrap align=left><I><FONT size=2 face="Times New Roman"></FONT></I></TD>
   <TD width="18%" noWrap align=left></TD></TR>
<TR>
   <TD width="100%" colSpan=5>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="width: 40%; white-space: nowrap; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ Andrew B. Cajka, Jr.</FONT></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="40%" noWrap align=left><FONT size=2 face="Times New Roman">Director</FONT></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="18%" noWrap align=left><FONT size=2 face="Times New Roman">January 15, 2021</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="40%" noWrap align=left><FONT size=2 face="Times New Roman">Andrew B. Cajka, Jr.</FONT></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="40%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="18%" noWrap align=left></TD></TR>
<TR>
   <TD width="100%" colSpan=5>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="width: 40%; white-space: nowrap; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ Mark A. Cothran</FONT></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="40%" noWrap align=left><FONT size=2 face="Times New Roman">Director</FONT></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="18%" noWrap align=left><FONT size=2 face="Times New Roman">January 15, 2021</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="40%" noWrap align=left><FONT size=2 face="Times New Roman">Mark A. Cothran</FONT></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="40%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="18%" noWrap align=left></TD></TR>
<TR>
   <TD width="100%" colSpan=5>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="width: 40%; white-space: nowrap; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ Leighton M. Cubbage</FONT></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="40%" noWrap align=left><FONT size=2 face="Times New Roman">Director</FONT></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="18%" noWrap align=left><FONT size=2 face="Times New Roman">January 15, 2021</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="40%" noWrap align=left><FONT size=2 face="Times New Roman">Leighton M. Cubbage</FONT></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="40%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="18%" noWrap align=left></TD></TR>
<TR>
   <TD width="100%" colSpan=5>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="width: 40%; white-space: nowrap; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ Anne S. Ellefson</FONT></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="40%" noWrap align=left><FONT size=2 face="Times New Roman">Director</FONT></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="18%" noWrap align=left><FONT size=2 face="Times New Roman">January 15, 2021</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="40%" noWrap align=left><FONT size=2 face="Times New Roman">Anne S. Ellefson</FONT></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="40%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="18%" noWrap align=left></TD></TR>
<TR>
   <TD width="100%" colSpan=5>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="width: 40%; white-space: nowrap; text-align: left; border-bottom: Black 1pt solid"></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="40%" noWrap align=left><FONT size=2 face="Times New Roman">Director</FONT></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="18%" noWrap align=left><FONT size=2 face="Times New Roman">January 15, 2021</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="40%" noWrap align=left><FONT size=2 face="Times New Roman">David G. Ellison</FONT></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="40%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="18%" noWrap align=left></TD></TR>
<TR>
   <TD width="100%" colSpan=5>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="width: 40%; white-space: nowrap; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ Tecumseh Hooper, Jr.</FONT></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="40%" noWrap align=left><FONT size=2 face="Times New Roman">Director</FONT></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="18%" noWrap align=left><FONT size=2 face="Times New Roman">January 15, 2021</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="40%" noWrap align=left><FONT size=2 face="Times New Roman">Tecumseh Hooper, Jr.</FONT></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="40%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="18%" noWrap align=left></TD></TR>
<TR vAlign=bottom>
   <TD width="100%" colSpan=5 noWrap align=left><FONT size=2 face="Times New Roman"></FONT><FONT size=2 face="Times New Roman"></FONT><FONT size=2 face="Times New Roman"></FONT><FONT size=2 face="Times New Roman"></FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="width: 40%; white-space: nowrap; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ Rudolph G. Johnstone, III, M.D.</FONT></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="40%" noWrap align=left><FONT size=2 face="Times New Roman">Director</FONT></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="18%" noWrap align=left><FONT size=2 face="Times New Roman">January 15, 2021</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="40%" noWrap align=left><FONT size=2 face="Times New Roman">Rudolph G. Johnstone, III, M.D.</FONT></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="40%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="18%" noWrap align=left></TD></TR>
<TR>
   <TD width="100%" colSpan=5>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="width: 40%; white-space: nowrap; text-align: left; border-bottom: Black 1pt solid"><FONT size=2 face="Times New Roman">/s/ Anna T. Locke</FONT></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="40%" noWrap align=left><FONT size=2 face="Times New Roman">Director</FONT></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="18%" noWrap align=left><FONT size=2 face="Times New Roman">January 15, 2021</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="40%" noWrap align=left><FONT size=2 face="Times New Roman">Anna T. Locke</FONT></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="40%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="18%" noWrap align=left></TD></TR>
<TR>
   <TD width="100%" colSpan=5>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="width: 40%; white-space: nowrap; text-align: left; border-bottom: Black 1pt solid"></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="40%" noWrap align=left><FONT size=2 face="Times New Roman">Director, Chairman</FONT></TD>
   <TD width="1%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="18%" noWrap align=left><FONT size=2 face="Times New Roman">January 15, 2021</FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="40%" noWrap align=left><FONT size=2 face="Times New Roman">James B. Orders, III</FONT></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="40%" noWrap align=left></TD>
   <TD width="1%" noWrap align=left></TD>
   <TD width="18%" noWrap align=left></TD></TR></TABLE>

<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">6</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">EXHIBIT INDEX</FONT></B></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD style="BORDER-BOTTOM: #000000 1pt solid" width="1%" noWrap align=left><FONT size=2 face="Times New Roman">Exhibit No.</FONT></TD>
   <TD width="1%" noWrap align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD STYLE="border-bottom: #000000 1pt solid; width: 98%; text-align: left"><FONT size=2 face="Times New Roman">Description of Exhibit</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Silver">
   <TD vAlign=top width="1%" noWrap align=left><A HREF="https://www.sec.gov/Archives/edgar/data/1090009/000095014499009181/0000950144-99-009181.txt" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">3.1</FONT></A></TD>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD STYLE="vertical-align: top; width: 98%; text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/1090009/000095014499009181/0000950144-99-009181.txt" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">Amended and Restated Articles of Incorporation (incorporated by reference to Exhibit 3.1 of the Company&#8217;s Registration Statement on Form SB-2 Filed on July 27, 1999, File No. 333-83851).</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Silver">
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD STYLE="vertical-align: top; width: 98%; text-align: left">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><A HREF="https://www.sec.gov/Archives/edgar/data/1090009/000109000909000016/exhibit3-1.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">3.2</FONT></A></TD>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD STYLE="vertical-align: top; width: 98%; text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/1090009/000109000909000016/exhibit3-1.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">Articles of Amendment to the Amended and Restated Articles of Incorporation (incorporated by reference to Exhibit 3.1 of the Company&#8217;s Current Report on Form 8-K filed on March 3, 2009).</FONT></A></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD STYLE="vertical-align: top; width: 98%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Silver">
   <TD vAlign=top width="1%" noWrap align=left><A HREF="https://www.sec.gov/Archives/edgar/data/1090009/000109000908000023/ex3-4.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">3.3</FONT></A></TD>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD STYLE="vertical-align: top; width: 98%; text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/1090009/000109000908000023/ex3-4.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">Amended and Restated Bylaws dated March 18, 2008 (incorporated by reference to Exhibit 3.4 of the Company&#8217;s Annual Report on Form 10-K filed March 24, 2008).</FONT></A></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Silver">
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD STYLE="vertical-align: top; width: 98%; text-align: left">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left><A HREF="https://www.sec.gov/Archives/edgar/data/0001090009/000120677420003003/sfb3823841-ex31.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">3.4</FONT></A></TD>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD STYLE="vertical-align: top; width: 98%; text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/0001090009/000120677420003003/sfb3823841-ex31.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">Amendment to Amended and Restated Bylaws dated October 27, 2020 (incorporated by reference to Exhibit 3.1 of the Company&#8217;s Quarterly Report on Form 10-Q filed on November 2, 2020)</FONT></A></TD></TR>
<TR vAlign=bottom>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD STYLE="vertical-align: top; width: 98%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: Silver">
   <TD vAlign=top width="1%" noWrap align=left><A HREF="https://www.sec.gov/Archives/edgar/data/1090009/000095014499009181/0000950144-99-009181.txt" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">4.1</FONT></A></TD>
   <TD vAlign=top width="1%" noWrap align=left></TD>
   <TD STYLE="vertical-align: top; width: 98%; text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/1090009/000095014499009181/0000950144-99-009181.txt" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">Specimen Common Stock Certificate (incorporated by reference to Exhibit 4.2 of the Company&#8217;s Registration Statement on Form SB-2 Filed on July 27, 1999, File No. 333-83851).</FONT></A></TD></TR>
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   <TD STYLE="vertical-align: top; width: 98%; text-align: left"><FONT size=2 face="Times New Roman">See Exhibits 3.1, 3.2, 3.3 and 3.4 for provisions of the Amended and Restated Articles of Incorporation, as amended, and Amended and Restated Bylaws, as amended, which define the rights of the shareholders.</FONT></TD></TR>
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   <TD vAlign=top width="1%" noWrap align=left><A HREF="https://www.sec.gov/Archives/edgar/data/1090009/000120677420000670/sfb35772717-ex42.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">4.3</FONT></A></TD>
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   <TD STYLE="vertical-align: top; width: 98%; text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/1090009/000120677420000670/sfb35772717-ex42.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">Description of the Company&#8217;s Securities Registered Pursuant to Section 12 of the Securities and Exchanges Act of 1934 (incorporated by reference to Exhibit 4.1 of the Company&#8217;s Annual Report on Form 10-K filed on March 2, 2020)</FONT></A></TD></TR>
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   <TD vAlign=top width="1%" noWrap align=left><A HREF="https://www.sec.gov/Archives/edgar/data/0001090009/000120677420000986/sfb35772719-def14a.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">4.4</FONT></A></TD>
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   <TD STYLE="vertical-align: top; width: 98%; text-align: left"><A HREF="https://www.sec.gov/Archives/edgar/data/0001090009/000120677420000986/sfb35772719-def14a.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">Southern First Bancshares, Inc. 2020 Equity Incentive Plan (incorporated by reference to Appendix A of the Company&#8217;s Proxy Statement on Schedule 14A filed on May 12, 2020).</FONT></A></TD></TR>
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   <TD vAlign=top width="1%" noWrap align=left><A HREF="sfb3856841-ex45.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">4.5</FONT></A></TD>
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   <TD STYLE="vertical-align: top; width: 98%; text-align: left"><A HREF="sfb3856841-ex45.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">Form of Award Agreement for Stock Options.</FONT></A></TD></TR>
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   <TD vAlign=top width="1%" noWrap align=left><A HREF="sfb3856841-ex46.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">4.6</FONT></A></TD>
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   <TD STYLE="vertical-align: top; width: 98%; text-align: left"><A HREF="sfb3856841-ex46.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">Form of Award Agreement for Restricted Stock.</FONT></A></TD></TR>
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   <TD STYLE="vertical-align: top; width: 98%; text-align: left"><FONT size=2 face="Times New Roman">Long-Term Debt. The registrant has outstanding long-term debt which at the time of this filing does not exceed 10% of the registrant&#8217;s total consolidated assets. The registrant agrees to furnish copies of the agreements defining the rights of holders of such long-term debt to the SEC upon request.</FONT></TD></TR>
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   <TD vAlign=top width="1%" noWrap align=left><A HREF="sfb3856841-ex51.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">5.1</FONT></A></TD>
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   <TD STYLE="vertical-align: top; width: 98%; text-align: left"><A HREF="sfb3856841-ex51.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">Opinion of Nelson Mullins Riley &amp; Scarborough LLP.</FONT></A></TD></TR>
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   <TD vAlign=top width="1%" noWrap align=left><A HREF="sfb3856841-ex51.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">23.1</FONT></A></TD>
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   <TD STYLE="vertical-align: top; width: 98%; text-align: left"><A HREF="sfb3856841-ex51.htm" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">Consent of Nelson Mullins Riley &amp; Scarborough LLP (included in Exhibit 5.1).</FONT></A></TD></TR>
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   <TD vAlign=top width="1%" noWrap align=left><A HREF="sfb3856841-ex232.htm"><FONT size=2 face="Times New Roman">23.2</FONT></A></TD>
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   <TD STYLE="vertical-align: top; width: 98%; text-align: left"><A HREF="sfb3856841-ex232.htm"><FONT size=2 face="Times New Roman">Consent of Elliott Davis, LLC.</FONT></A></TD></TR>
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   <TD vAlign=top width="1%" noWrap align=left><A HREF="#poa" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">24.1</FONT></A></TD>
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   <TD STYLE="vertical-align: top; width: 98%; text-align: left"><A HREF="#poa" STYLE="-sec-extract: exhibit"><FONT size=2 face="Times New Roman">Power of Attorney (included on the signature page hereto).</FONT></A></TD></TR></TABLE>

<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">7</FONT></P>
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<DESCRIPTION>FORM OF AWARD AGREEMENT FOR STOCK OPTIONS
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<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Exhibit 4.5</FONT></P>
<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">SOUTHERN FIRST BANCSHARES, INC. <BR>2020 EQUITY INCENTIVE PLAN</FONT></B></P>
<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">STOCK OPTION AGREEMENT</FONT></B></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">THIS STOCK OPTION AGREEMENT (this &#8220;Agreement&#8221;) is entered into as of this day of _________, between Southern First Bancshares, Inc., a South Carolina corporation (the &#8220;Company&#8221;), and _________ (the &#8220;Optionee&#8221;).</FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">WHEREAS, on March 17, 2020, the Board of Directors of the Company adopted the &#8220;Southern First Bancshares, Inc. 2020 Equity Incentive Plan&#8221; (the &#8220;Plan&#8221;), and recommended that the Plan be approved by the Company&#8217;s shareholders; </FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">WHEREAS, the Company&#8217;s shareholders approved the Plan at the annual meeting of shareholders held on May 12, 2020; </FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">WHEREAS, the Committee has granted the Optionee a stock option to purchase the number of shares of the Company&#8217;s common stock as set forth below, and in consideration of the granting of that stock option the Optionee intends to remain in the employ of the Company; </FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">WHEREAS, the Company considers it desirable and in its best interest that the Optionee be provided an inducement to acquire an ownership interest in the Company and an additional incentive to advance the interest of the Company through the grant of an option to purchase shares of common stock of the Company pursuant to the Plan; and </FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">WHEREAS, the Company and the Optionee desire to enter into a written agreement with respect to such option in accordance with the Plan.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">NOW, THEREFORE, as an employment incentive and to encourage stock ownership, and also in consideration of the mutual covenants contained herein, the Company and the Optionee agree as follows.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">1. </FONT><U><FONT size=2 face="Times New Roman">Incorporation of Plan</FONT></U><FONT size=2 face="Times New Roman">. This option is granted pursuant to the provisions of the Plan and the terms and definitions of the Plan are incorporated herein by reference and made a part hereof. A copy of the Plan has been delivered to, and receipt is hereby acknowledged by, the Optionee.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">2. </FONT><U><FONT size=2 face="Times New Roman">Grant of Option</FONT></U><FONT size=2 face="Times New Roman">. Subject to the provisions stated in this Agreement, the Company hereby evidences its grant to the Optionee, not in lieu of salary or other compensation, of the right and option (the &#8220;Option&#8221;) to purchase the number of shares of the Company&#8217;s common stock, par value $0.01 per share (the &#8220;Common Stock&#8221;), set forth below, exercisable in the amounts and at the time specified below. This Option is intended to be an _____________. To the extent this Option exceeds the limits on Incentive Stock Options under Section 6(e) of the Plan, any excess Options shall be Nonqualified Stock Options.</FONT></P>
<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">1</FONT></P>
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   <TD STYLE="vertical-align: top; width: 5%; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Date of Grant:</FONT></TD>
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   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Number of Shares:</FONT></TD>
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   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Exercise Price:</FONT></TD>
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   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Option Vesting Schedule:</FONT></TD>
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   <P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Options are exercisable with respect the shares of Common Stock as follows, subject in each case to continued employment by the Company or a subsidiary of the Company through such date, and subject to the provisions of Section 7 of this Agreement:</FONT></P></TD></TR></TABLE>
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<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">Option Exercise Period: All options expire and are void unless exercised on or before _________.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">3. </FONT><U><FONT size=2 face="Times New Roman">Exercise Terms</FONT></U><FONT size=2 face="Times New Roman">. The Optionee must exercise the Option for at least the lesser of 100 shares or the number of shares of Stock as to which the Option remains unexercised but exercisable. If this Option is not exercised with respect to all or any part of the shares subject to this Option prior to its expiration, the shares with respect to which this Option was not exercised shall no longer be subject to this Option.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">4. </FONT><U><FONT size=2 face="Times New Roman">Restrictions on Transferability</FONT></U><FONT size=2 face="Times New Roman">. No Option shall be transferable by an Optionee other than by will or the laws of descent and distribution or pursuant to a Qualified Domestic Relations Order. During the lifetime of an Optionee, Options shall be exercisable only by such Optionee (or by such Optionee&#8217;s guardian or legal representative, should one be appointed). If the shares purchased pursuant to the exercise of an Incentive Stock Option are transferred by the Optionee, except pursuant to the Optionee's will or the laws of descent and distribution, prior to such date which is the later of two years after the grant of such Incentive Stock Option or one year after the transfer of the shares to the Optionee pursuant to the exercise of such Incentive Stock Option, the transfer is a "disqualifying disposition" for tax purposes and the Optionee shall report such transfer to the Company.</FONT></P>

<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">2</FONT></P>
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<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">5. </FONT><U><FONT size=2 face="Times New Roman">Notice of Exercise of Option</FONT></U><FONT size=2 face="Times New Roman">. This Option may be exercised by the Optionee, or by the Optionee&#8217;s administrators, executors or personal representatives, by a written notice (in substantially the form of a Notice of Exercise approved by the Company) signed by the Optionee, or by such administrators, executors or personal representatives, and delivered or mailed to the Company as specified in this Agreement to the attention of the Chief Financial Officer or such other officer as the Company may designate. Any such notice shall (a) specify the number of shares of Common Stock which the Optionee or the Optionee&#8217;s administrators,  executors or personal representatives, as the case may be, then elects to purchase hereunder, (b) contain such information as may be reasonably required by the Company pursuant to this Agreement, and (c) be accompanied by (i) consideration in the form of any cashless exercise (such consideration having been approved by the Administrator upon the granting of this Option), including by means of a net exercise whereby the Company issues net Shares and the remaining balance of the Shares to satisfy the Participant&#8217;s tax withholding obligations; (ii) unrestricted shares of Common Stock already owned by the Participant (based on the Fair Market Value on the date the Option is exercised); (iii) any other form of consideration subsequently approved by the Administrator and permitted by applicable law; or (iv) a combination of a certified or cashier&#8217;s check accompanied by a number of shares of stock which equal under (i), (ii) or (iii) the total Exercise Price applicable to such shares purchased hereunder. Upon receipt of any such notice and accompanying payment, and subject to the terms hereof, the Company agrees to issue to the Optionee or the Optionee&#8217;s administrators, executors or personal representatives, as the case may be, stock certificates for the number of shares specified in such notice registered in the name of the person exercising this Option.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">6. </FONT><U><FONT size=2 face="Times New Roman">Adjustment in Option</FONT></U><FONT size=2 face="Times New Roman">. The number of Shares subject to this Option, the Exercise Price, and other matters are subject to adjustment during the term of this Option in accordance with Sections 3, 4, 6, 9, 10, 11 and 14 of the Plan. In the event of a Change of Control, (i) this Option will automatically vest in full and (ii) any performance conditions imposed with respect to this Option shall be deemed to be fully achieved immediately prior to the consummation of the Change of Control.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">7. </FONT><U><FONT size=2 face="Times New Roman">Termination of Employment</FONT></U><FONT size=2 face="Times New Roman">.</FONT></P>
<P STYLE="text-indent: 30pt; text-align: justify"><FONT size=2 face="Times New Roman">(a) In the event of the termination of the Optionee&#8217;s employment (including due to retirement) with the Company or any of its Subsidiaries, other than a termination that is either (i) for Cause, or (ii) for reasons of death or Permanent and Total Disability, all vesting of the Option shall cease and the Optionee may exercise the vested portion of the Option at any time within a period ending on the earlier of (a) the last day of the period ending 90 days after such termination of employment or (b) the expiration date of this Option, to the extent of the number of shares which were vested but not exercised or otherwise forfeited as of the date of such termination (and thereafter this Option shall be deemed terminated and shall not be or become exercisable).</FONT></P>
<P STYLE="text-indent: 30pt; text-align: justify"><FONT size=2 face="Times New Roman">(b) In the event of a termination of the Optionee&#8217;s employment for Cause, this Option, to the extent not previously exercised, shall terminate immediately and shall not thereafter be or become exercisable.</FONT></P>
<P STYLE="text-indent: 30pt; text-align: justify"><FONT size=2 face="Times New Roman">(c) In the event of termination of employment because of the Optionee&#8217;s Permanent and Total Disability, all vesting of the Option shall cease and the Optionee (or his or her personal representative) may exercise the vested portion of the Option, within a period ending on the earlier of (a) the last day of the one-year period following the Optionee&#8217;s Permanent and Total Disability or (b) the expiration date of this Option, to the extent of the number of shares which were vested but not exercised or otherwise forfeited as of the date of such termination.</FONT></P>
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<P STYLE="text-indent: 30pt; text-align: justify"><FONT size=2 face="Times New Roman">(d) In the event of the Optionee&#8217;s death while employed by the Company or any of its Subsidiaries or within 90 days after a termination of such employment (if such termination was not for Cause), the appropriate persons described in Section 5 hereof or persons to whom all or a portion of this Option is transferred in accordance with Section 4 hereof may exercise this Option, to the extent vested, at any time within a period ending on the earlier of (a) the last day of the twelve month period following the Optionee&#8217;s death or (b) the expiration date of this Option. If the Optionee was an employee of the Company at the time of death, all vesting of the Option shall cease as of the date of death, and this Option may be so exercised to the extent of the number of shares that were vested but not exercised or otherwise forfeited as of the date of death. If the Optionee&#8217;s employment terminated prior to his or her death, all vesting of the Option shall have ceased as of the date of termination, and this Option may be exercised only to the extent of the number of shares covered by this Option which were vested but not exercised or otherwise forfeited as of the date of such termination.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">This Option does not confer upon the Optionee any right with respect to continuance of employment by the Company or by any of its Subsidiaries. This Option shall not be affected by any change of employment so long as the Optionee continues to be an employee of the Company or one of its Subsidiaries.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">8. </FONT><U><FONT size=2 face="Times New Roman">Compliance with Regulatory Matters</FONT></U><FONT size=2 face="Times New Roman">. The Optionee acknowledges that the issuance of capital stock of the Company is subject to limitations imposed by federal and state law and the Optionee hereby agrees that the Company shall not be obligated to issue any shares of Stock upon exercise of this Option that would cause the Company to violate law or any rule, regulation, order or consent decree of any regulatory authority (including without limitation the Securities and Exchange Commission) having jurisdiction over the affairs of the Company. The Optionee agrees that he or she will provide the Company with such information as is reasonably requested by the Company or its counsel to determine whether the issuance of Stock complies with the provisions described by this Section 8.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">9. </FONT><U><FONT size=2 face="Times New Roman">Miscellaneous</FONT></U><FONT size=2 face="Times New Roman">.</FONT></P>
<P STYLE="text-indent: 30pt; text-align: justify"><FONT size=2 face="Times New Roman">(a) This Agreement shall be binding upon the parties hereto and their representatives, successors and assigns.</FONT></P>
<P STYLE="text-indent: 30pt; text-align: justify"><FONT size=2 face="Times New Roman">(b) Unless the context clearly indicates to the contrary, all capitalized terms used herein shall have the meanings as set forth in this Agreement, or in the event a capitalized term is not clearly described in this Agreement, the meanings as set forth in the Plan.</FONT></P>
<P STYLE="text-indent: 30pt; text-align: justify"><FONT size=2 face="Times New Roman">(c) This Agreement is executed and delivered in, and shall be governed by the laws of, the State of South Carolina.</FONT></P>
<P STYLE="text-indent: 30pt; text-align: justify"><FONT size=2 face="Times New Roman">(d) Income realized by the Optionee pursuant to this Agreement shall not be included in the Grantee&#8217;s earnings for the purpose of any benefit plan of the entity in which the Optionee may be enrolled or for which the Optionee may become eligible unless otherwise specifically provided for in such plan.</FONT></P>
<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">4</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P STYLE="text-indent: 30pt; text-align: justify"><FONT size=2 face="Times New Roman">(e) Any requests or notices to be given hereunder shall be deemed given, and any elections or exercises to be made or accomplished shall be deemed made or accomplished, upon actual delivery thereof to the designated recipient, or three days after deposit thereof in the United States mail, registered, return receipt requested and postage prepaid, addressed, if to the Optionee, at the address set forth below and, if to the Company, to the executive offices of the Company at 100 Verdae Boulevard, Suite 100, Greenville, SC, Attn: Chairperson of the Compensation Committee.</FONT></P>
<P STYLE="text-indent: 30pt; text-align: justify"><FONT size=2 face="Times New Roman">(f) This Agreement may not be modified except in writing executed by each of the parties hereto. Notwithstanding the previous sentence, the Administrator reserves the right to amend the terms of this Agreement as may be necessary or appropriate to avoid adverse tax consequences under Section 409A of the Code or to comply with any requirements under the Company&#8217;s &#8220;clawback&#8221; policy regarding incentive compensation, or such &#8220;clawback&#8221; requirements under the Sarbanes&#8211;Oxley Act of 2002 or the Dodd-Frank Wall Street Reform and Consumer Protection Act.</FONT></P>
<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">[</FONT><I><FONT size=2 face="Times New Roman">Signatures appear on the following page.</FONT></I><FONT size=2 face="Times New Roman">]</FONT></P>
<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">5</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">IN WITNESS WHEREOF, the Board of Directors of the Company has caused this Stock Option Agreement to be executed on behalf of the Company and the Company&#8217;s seal to be affixed hereto and attested by the Secretary or an Assistant Secretary of the Company, and the Optionee has executed this Stock Option Agreement under seal, all as of the day and year first above written.</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD width="50%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="50%" colSpan=2 align=left><FONT size=2 face="Times New Roman">SOUTHERN FIRST BANCSHARES, INC.</FONT> <FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="50%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="50%" colSpan=2 noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="50%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="2%" noWrap align=left><FONT size=2 face="Times New Roman">By:</FONT></TD>
   <TD style="BORDER-BOTTOM: #000000 1pt solid" width="48%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="50%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="2%" noWrap align=left><FONT size=2 face="Times New Roman">Name:&nbsp;</FONT></TD>
   <TD style="BORDER-BOTTOM: #000000 1pt solid" width="48%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="50%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="2%" noWrap align=left><FONT size=2 face="Times New Roman">Title:</FONT></TD>
   <TD style="BORDER-BOTTOM: #000000 1pt solid" width="48%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="50%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="50%" colSpan=2 noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="50%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="50%" colSpan=2 align=left><FONT size=2 face="Times New Roman">OPTIONEE</FONT> <FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR vAlign=bottom>
   <TD width="50%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="50%" colSpan=2 noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="50%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="2%" noWrap align=left><FONT size=2 face="Times New Roman">By:</FONT></TD>
   <TD style="BORDER-BOTTOM: #000000 1pt solid" width="48%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="50%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="2%" noWrap align=left><FONT size=2 face="Times New Roman">Name:</FONT></TD>
   <TD style="BORDER-BOTTOM: #000000 1pt solid" width="48%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="50%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="2%" noWrap align=left><FONT size=2 face="Times New Roman">Address:&nbsp;</FONT></TD>
   <TD style="BORDER-BOTTOM: #000000 1pt solid" width="48%" align=left>&nbsp;</TD></TR></TABLE>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">Attachments:</FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">1. 2020 Equity Incentive Plan</FONT></P>
<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">6</FONT></P>
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<DOCUMENT>
<TYPE>EX-4.6
<SEQUENCE>3
<FILENAME>sfb3856841-ex46.htm
<DESCRIPTION>FORM OF AWARD AGREEMENT FOR RESTRICTED STOCK
<TEXT>

<HTML>
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<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Exhibit 4.6</FONT></P>
<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">SOUTHERN FIRST BANCSHARES, INC. <BR>2020 EQUITY INCENTIVE PLAN</FONT></B></P>
<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">RESTRICTED STOCK AWARD GRANT NOTICE</FONT></B></P>
<TABLE CELLSPACING="0" CELLPADDING="0" BORDER="0" STYLE="line-height: normal; border-collapse: collapse; width: 100%">

<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; width: 5%; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman">Participant Name:</FONT></B></TD>
   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; width: 15%; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; width: 30%; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="vertical-align: top; width: 15%; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="vertical-align: top; width: 34%; white-space: nowrap; text-align: left"></TD></TR>
<TR>
   <TD COLSPAN="5" STYLE="vertical-align: top">&nbsp;</TD>
   <TD STYLE="vertical-align: top"></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman">Company:</FONT></B></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD COLSPAN="3" STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Southern First Bancshares, Inc.</FONT></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman"></FONT></TD></TR>


<TR>
   <TD COLSPAN="5" STYLE="vertical-align: top">&nbsp;</TD>
   <TD STYLE="vertical-align: top"></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman">Notice:</FONT></B></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
   <TD COLSPAN="4" STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">A summary of the terms of your grant of Restricted Shares is set out in this notice (the &#8220;Grant Notice&#8221;) but subject always to the terms of the Southern First Bancshares, Inc. 2020 Equity Incentive Plan (the &#8220;Plan&#8221;) and the Restricted Stock Award Agreement (the &#8220;Award Agreement&#8221;). In the event of any inconsistency between the terms of this Grant Notice, the terms of the Plan and the Award Agreement, the terms of the Plan and the Award Agreement shall prevail.</FONT></TD></TR>
<TR>
   <TD COLSPAN="5" STYLE="vertical-align: top">&nbsp;</TD>
   <TD STYLE="vertical-align: top"></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman">Type of Award:</FONT></B></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD COLSPAN="3" STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Restricted Stock Award</FONT></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman"></FONT></TD></TR>


<TR>
   <TD COLSPAN="5" STYLE="vertical-align: top">&nbsp;</TD>
   <TD STYLE="vertical-align: top"></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman">Stock:</FONT></B></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD COLSPAN="3" STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman">Shares of common stock, $0.01 par value per share, of the Company</FONT></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><FONT size=2 face="Times New Roman"></FONT></TD></TR>
<TR>
   <TD COLSPAN="5" STYLE="vertical-align: top">&nbsp;</TD>
   <TD STYLE="vertical-align: top"></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman">Number of Shares</FONT></B></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD STYLE="vertical-align: top; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: left"></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman">of Stock Subject</FONT></B></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD STYLE="vertical-align: top; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: left"></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman">to Grant:</FONT></B></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD STYLE="border-bottom: #000000 1pt solid; vertical-align: top; text-align: center">&nbsp;&nbsp;&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left"><FONT size=2 face="Times New Roman">&nbsp;shares</FONT></TD>
   <TD STYLE="vertical-align: top; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: left"></TD></TR>
<TR>
   <TD COLSPAN="5" STYLE="vertical-align: top">&nbsp;</TD>
   <TD STYLE="vertical-align: top"></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman">Grant Date:</FONT></B></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: left"></TD>
   <TD STYLE="vertical-align: top; text-align: left"></TD></TR>
<TR>
   <TD COLSPAN="5" STYLE="vertical-align: top">&nbsp;</TD>
   <TD STYLE="vertical-align: top"></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman">Vesting Schedule:</FONT></B></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD COLSPAN="4" STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">Restricted Shares granted
   will vest (i.e., restrictions shall lapse) in accordance with the following schedule, provided that you have provided
   continuous employment to the Company or any Participating Employer through each such vesting date:</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="padding-top: 6pt; vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="padding-top: 6pt; vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="padding-top: 6pt; vertical-align: top; text-align: left"><U><FONT size=2 face="Times New Roman">Date</FONT></U></TD>
   <TD STYLE="padding-top: 6pt; vertical-align: top; white-space: nowrap; text-align: right"><U><FONT size=2 face="Times New Roman"></FONT></U></TD>
   <TD STYLE="padding-top: 6pt; vertical-align: top; white-space: nowrap; text-align: left"><U><FONT size=2 face="Times New Roman">No. of Shares</FONT></U></TD>
   <TD STYLE="padding-top: 6pt; vertical-align: top; white-space: nowrap; text-align: left"><U><FONT size=2 face="Times New Roman"></FONT></U></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="border-bottom: #000000 1pt solid; vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: right"><U><FONT size=2 face="Times New Roman"></FONT></U></TD>
   <TD STYLE="border-bottom: #000000 1pt solid; vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left"><U><FONT size=2 face="Times New Roman"></FONT></U></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="border-bottom: #000000 1pt solid; vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: right"><U><FONT size=2 face="Times New Roman"></FONT></U></TD>
   <TD STYLE="border-bottom: #000000 1pt solid; vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left"><U><FONT size=2 face="Times New Roman"></FONT></U></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="border-bottom: #000000 1pt solid; vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: right"><U><FONT size=2 face="Times New Roman"></FONT></U></TD>
   <TD STYLE="border-bottom: #000000 1pt solid; vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left"><U><FONT size=2 face="Times New Roman"></FONT></U></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"></TD>
   <TD STYLE="border-bottom: #000000 1pt solid; vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: right"><U><FONT size=2 face="Times New Roman"></FONT></U></TD>
   <TD STYLE="border-bottom: #000000 1pt solid; vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left"><U><FONT size=2 face="Times New Roman"></FONT></U></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;</TD>
   <TD STYLE="border-bottom: #000000 1pt solid; vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
   <TD STYLE="border-bottom: #000000 1pt solid; vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; line-height: 6pt">
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; text-align: left">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left">&nbsp;</TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD COLSPAN="4" STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">In the event of a Change of Control, all unvested Restricted Shares will automatically vest in full immediately prior to the consummation of the Change of Control.</FONT></TD></TR>
<TR>
   <TD COLSPAN="5" STYLE="vertical-align: top">&nbsp;</TD>
   <TD STYLE="vertical-align: top"></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman">Acceptance:</FONT></B></TD>
   <TD STYLE="vertical-align: top; white-space: nowrap; text-align: left"><B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD COLSPAN="4" STYLE="vertical-align: top; text-align: justify"><FONT size=2 face="Times New Roman">You acknowledge receipt of, and understand and agree to, this Grant Notice, the Award Agreement and the Plan. You further acknowledge that as of the Grant Date, this Grant Notice, the Award Agreement and the Plan set forth the entire understanding between you and the Company or any Participating Employer regarding the Restricted Shares and supersede all prior oral and written Award Agreements on the subject.</FONT></TD></TR>
</TABLE>

<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">[</FONT><I><FONT size=2 face="Times New Roman">Signatures appear on the following page.</FONT></I><FONT size=2 face="Times New Roman">]</FONT></P>

<HR align=center width="100%" noShade size="2">

<DIV style="PAGE-BREAK-BEFORE: always"></DIV>


<P STYLE="text-indent: 15pt; text-align: justify"><B><FONT size=2 face="Times New Roman">IN WITNESS WHEREOF</FONT></B><FONT size=2 face="Times New Roman">, the Company and the Participant have duly executed and delivered this Grant Notice as of the Grant Date.</FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: COLLAPSE" cellSpacing=0 cellPadding=0 width="100%" border=0>

<TR vAlign=bottom>
   <TD COLSPAN="2" STYLE="width: 47%; text-align: left"><B><FONT size=2 face="Times New Roman">SOUTHERN FIRST BANCSHARES, INC.</FONT></B> <B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD width="15%" noWrap align=left><B><FONT size=2 face="Times New Roman"></FONT></B></TD>
   <TD COLSPAN="2" STYLE="width: 38%; text-align: left"><B><FONT size=2 face="Times New Roman">PARTICIPANT</FONT></B> <B><FONT size=2 face="Times New Roman"></FONT></B></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD>
   <TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD>
   <TD COLSPAN="2" STYLE="text-align: left">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="2%" noWrap align=left><FONT size=2 face="Times New Roman">By:</FONT></TD>
   <TD STYLE="border-bottom: #000000 1pt solid; width: 45%; text-align: left"><FONT size=2 face="Times New Roman">&nbsp;</FONT></TD>
   <TD width="15%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD STYLE="width: 2%; white-space: nowrap; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD>
   <TD STYLE="width: 36%; white-space: nowrap; text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD width="2%" noWrap align=left><FONT size=2 face="Times New Roman">Print Name:&nbsp;</FONT></TD>
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   <TD width="2%" noWrap align=left><FONT size=2 face="Times New Roman">[Name]</FONT></TD>
   <TD style="BORDER-BOTTOM: #000000 1pt solid" width="36%" align=left>&nbsp;</TD></TR>
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   <TD width="2%" noWrap align=left><FONT size=2 face="Times New Roman">Title:</FONT></TD>
   <TD STYLE="border-bottom: #000000 1pt solid; width: 45%; text-align: left">&nbsp;</TD>
   <TD width="15%" noWrap align=left><FONT size=2 face="Times New Roman"></FONT></TD>
   <TD width="2%" noWrap align=left><FONT size=2 face="Times New Roman">Address:&nbsp;</FONT></TD>
   <TD style="BORDER-BOTTOM: #000000 1pt solid" width="36%" align=left>&nbsp;</TD></TR>                                                                                                                                                                                                                                                                     <TR STYLE="vertical-align: bottom">
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   <TD STYLE="border-bottom: #000000 1pt solid; text-align: left">&nbsp;</TD></TR>
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<BR>
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   <TD width="100%" colSpan=2 noWrap align=left><FONT size=2 face="Times New Roman">Attachments:</FONT></TD></TR>
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   <TD COLSPAN="2" STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
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   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman">1.</FONT></TD>
   <TD width="99%" noWrap align=left><FONT size=2 face="Times New Roman">Restricted Stock Award Agreement</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
   <TD STYLE="white-space: nowrap; text-align: left; padding-right: 15pt; padding-left: 15pt">&nbsp;</TD>
   <TD STYLE="white-space: nowrap; text-align: left">&nbsp;</TD></TR>
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   <TD STYLE="width: 1%; white-space: nowrap; text-align: left; padding-right: 15pt; padding-left: 15pt"><FONT size=2 face="Times New Roman">2.</FONT></TD>
   <TD width="99%" noWrap align=left><FONT size=2 face="Times New Roman">2020 Equity Incentive Plan</FONT></TD></TR></TABLE>

<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">2</FONT></P>
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<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">SOUTHERN FIRST BANCSHARES, INC. </FONT></B></P>
<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">Restricted Stock Award Agreement</FONT></B></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">Pursuant to the Restricted Stock Grant Notice (the &#8220;</FONT><U><FONT size=2 face="Times New Roman">Grant Notice</FONT></U><FONT size=2 face="Times New Roman">&#8221;) and this Restricted Stock Award Agreement (this &#8220;</FONT><U><FONT size=2 face="Times New Roman">Award Agreement</FONT></U><FONT size=2 face="Times New Roman">&#8221;), Southern First Bancshares, Inc. (the &#8220;</FONT><U><FONT size=2 face="Times New Roman">Company</FONT></U><FONT size=2 face="Times New Roman">&#8221;) has granted the Participant, as identified in the Grant Notice, the number of restricted shares of the Company&#8217;s Common Stock under the Company&#8217;s 2020 Equity Incentive Plan (the &#8220;</FONT><U><FONT size=2 face="Times New Roman">Plan</FONT></U><FONT size=2 face="Times New Roman">&#8221;) indicated in the Grant Notice (the &#8220;</FONT><U><FONT size=2 face="Times New Roman">Restricted Shares</FONT></U><FONT size=2 face="Times New Roman">&#8221;). Capitalized terms not defined in this Award Agreement but defined in the Plan or the Grant Notice will have the same definitions as in the Plan or the Grant Notice, respectively.</FONT></P>
<P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">1. </FONT><U><FONT size=2 face="Times New Roman">Restrictions and Vesting Schedule</FONT></U><FONT size=2 face="Times New Roman">. The Restricted Shares are being awarded to Participant subject to the transfer and forfeiture conditions set forth in this Award Agreement and the Plan (the &#8220;</FONT><U><FONT size=2 face="Times New Roman">Restrictions</FONT></U><FONT size=2 face="Times New Roman">&#8221;). Subject to the provisions of Section 2 below, the Restricted Shares will vest, and Restrictions shall lapse, as provided in the Participant&#8217;s Grant Notice. The period from the Date of Grant through the last Vesting Date set forth in the Grant Notice is referred to as the &#8220;</FONT><U><FONT size=2 face="Times New Roman">Restriction Period</FONT></U><FONT size=2 face="Times New Roman">.&#8221; Except to the extent vesting accelerates pursuant to the terms of the Grant Notice or Section 2 below, any unvested Restricted Shares shall be automatically forfeited upon Participant&#8217;s Termination from Service.</FONT></P>
<P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">2. </FONT><U><FONT size=2 face="Times New Roman">Acceleration of Vesting upon a Change in Control</FONT></U><FONT size=2 face="Times New Roman">. In the event of a Change of Control, all unvested Restricted Shares will automatically vest in full immediately prior to the consummation of the Change of Control.</FONT></P>
<P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">3. </FONT><U><FONT size=2 face="Times New Roman">Assignment or Transfer of Shares</FONT></U><FONT size=2 face="Times New Roman">. Unless otherwise provided by the Board, prior to the vesting of the Restricted Shares, Participant may not directly or indirectly, by operation of law or otherwise, voluntarily or involuntarily, sell, assign, pledge, encumber, charge or otherwise transfer any of the Restricted Shares still subject to Restrictions. The Restricted Shares shall be forfeited if Participant violates or attempts to violate these transfer Restrictions. After any Stock has been released from the Restrictions, Participant shall not directly or indirectly, by operation of law or otherwise, voluntarily or involuntarily, sell, assign, pledge, encumber, charge or otherwise transfer any interest in the Stock except in compliance with the provisions herein and the provisions of applicable securities laws.</FONT></P>
<P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">4. </FONT><U><FONT size=2 face="Times New Roman">Delivery of Shares.</FONT></U><FONT size=2 face="Times New Roman"> The Company shall enter such Award of Restricted Stock in book entry form with appropriate restrictions noted with respect thereto.</FONT></P>
<P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">5. </FONT><U><FONT size=2 face="Times New Roman">Rights of Participant</FONT></U><FONT size=2 face="Times New Roman">. Subject to the provisions of this Award Agreement, Participant shall exercise all rights and privileges of a shareholder of the Company with respect to the Restricted Shares deposited pursuant to Section 4. Participant shall be deemed to be the holder for purposes of receiving any dividends that may be paid with respect to such shares of Stock and for the purpose of exercising any voting rights relating to such shares of Stock, even if some or all of such shares of Stock have not yet vested and been released from the Restrictions.</FONT></P>

<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">3</FONT></P>
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<P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">6. </FONT><U><FONT size=2 face="Times New Roman">Restrictive Legends</FONT></U><FONT size=2 face="Times New Roman">. The Company&#8217;s book entry notations representing the Stock shall have been noted with a legend in substantially the following form: </FONT></P>
<P STYLE="padding-left: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">&#8220;THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS SET FORTH IN A RESTRICTED STOCK AWARD AGREEMENT BETWEEN THE COMPANY AND THE REGISTERED HOLDER, OR SUCH HOLDER&#8217;S PREDECESSOR IN INTEREST, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICE OF THE COMPANY. ANY TRANSFER OR ATTEMPTED TRANSFER OF ANY SHARES SUBJECT TO SUCH RESTRICTED STOCK AWARD IS VOID WITHOUT THE PRIOR EXPRESS WRITTEN CONSENT OF THE COMPANY.&#8221;</FONT></P>

<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Company shall remove or cause the removal of the foregoing legend as and to the extent of the lapse of the applicable Restrictions.</FONT></P>
<P STYLE="text-align: justify"><FONT size=2 face="Times New Roman">7. </FONT><U><FONT size=2 face="Times New Roman">Section 83(b) Election</FONT></U><FONT size=2 face="Times New Roman">. Participant understands that Section 83(a) of the Code taxes as ordinary income the difference between the amounts paid for the Stock and the fair market value of the Stock as of the date any Restrictions on the Stock lapse. Participant understands that Participant may elect to be taxed at the time the Restricted Shares are granted rather than when and as the Restrictions lapse, by filing an election under Section 83(b) (&#8220;</FONT><B><I><FONT size=2 face="Times New Roman">83(b) Election</FONT></I></B><FONT size=2 face="Times New Roman">&#8221;) of the Code with the Internal Revenue Service within 30 days from the Date of Grant. Even if the fair market value of the Restricted Shares at the time of the Grant equals the amount paid for the Stock, if any, the 83(b) Election must be made to avoid income under Section 83(a) in the future. Participant understands that failure to file such an 83(b) Election in a timely manner may result in adverse tax consequences for Participant. </FONT><B><FONT size=2 face="Times New Roman">Participant further acknowledges and understands that it is Participant&#8217;s decision as to whether to file such 83(b) Election, and neither the Company nor the Company&#8217;s legal or financial advisors shall have any obligation or responsibility with respect to such filing. </FONT></B><FONT size=2 face="Times New Roman">Participant acknowledges that the foregoing is only a summary of the effect of United States federal income taxation with respect to purchase of the Stock hereunder, and does not purport to be complete. Participant further acknowledges that the Company has directed Participant to seek independent advice regarding the applicable provisions of the Code, the income tax laws of any municipality, state or foreign country in which Participant may reside, and the tax consequences of Participant&#8217;s death. Participant assumes all responsibility for filing an 83(b) Election and paying all taxes resulting from such election or the lapse of the Restrictions on the Stock.</FONT></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">8. </FONT><U><FONT size=2 face="Times New Roman">Refusal to Transfer</FONT></U><FONT size=2 face="Times New Roman">. The Company shall not be required to transfer on its books any shares of Stock of the Company which shall have been transferred in violation of any of the provisions set forth in this Award Agreement or the Plan.</FONT></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">9. </FONT><U><FONT size=2 face="Times New Roman">No Employment Rights</FONT></U><FONT size=2 face="Times New Roman">. This Award Agreement is not an employment contract and nothing in this Award Agreement shall confer upon the Participant any right to continued employment with or service to the Company or any Subsidiary, as the case may be, nor shall it interfere in any way with the right of the Company or any Subsidiary to terminate the employment or service of the Participant at any time.</FONT></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">10. </FONT><U><FONT size=2 face="Times New Roman">Governing Plan Document</FONT></U><FONT size=2 face="Times New Roman">. The Restricted Shares granted hereunder are subject to all the provisions of the Plan, the provisions of which are hereby incorporated by reference herein, and is further subject to all interpretations, amendments, rules and regulations which may from time to time be promulgated and adopted pursuant to the Plan. Capitalized terms used herein and not defined shall have the meanings assigned in the Plan. In the event of any conflict between the provisions of this Award Agreement and those of the Plan, the provisions of the Plan shall control.</FONT></P>
<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">4</FONT></P>
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<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">11. </FONT><U><FONT size=2 face="Times New Roman">Adjustments.</FONT></U><FONT size=2 face="Times New Roman"> The Restricted Shares shall be subject to adjustments as provided in Sections 3, 4, 7, 9, 10, 11 and 14 of the Plan.</FONT></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">12. </FONT><U><FONT size=2 face="Times New Roman">Acknowledgements</FONT></U><FONT size=2 face="Times New Roman">. No waiver of any breach of any provision of this Award Agreement by the Company shall be construed to be a waiver of any succeeding breach or as a modification of such provision.</FONT></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">13. </FONT><U><FONT size=2 face="Times New Roman">Miscellaneous</FONT></U><FONT size=2 face="Times New Roman">.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">(a) Notices. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) when personally delivered to the party to be notified; (b) when sent by confirmed facsimile to the party to be notified; (c) five business days after deposit in the United States Mail postage prepared by certified or registered mail with return receipt requested at any time other than during a general discontinuance of postal service due to strike, lockout, or otherwise (in which case notice, request, waiver or other communication shall be effectively given upon receipt) and address to the party to be notified as set forth above; or (d) two business days after deposit with a national recognized overnight delivery service, postage prepaid, addressed to the party to be notified as set forth above with next-business-day delivery guaranteed. A party may change its notice address by giving the other party ten days&#8217; written of the new address in the manner set forth above.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">(b) Successors and Assigns. This Award Agreement shall inure to the benefit of the successors and assigns of the Company and, subject to the restrictions on transfer herein set forth, be binding upon Participant, Participant&#8217;s successors, and assigns.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">(c) Governing Law. This Award Agreement shall be governed by and construed in accordance with the laws of the State of South Carolina, without reference to principles of conflict of laws.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">(d) Entire Award Agreement; Amendment. This Award Agreement, along with the Grant Notice and the Plan constitute the entire Award Agreement between the parties with respect to the subject matter hereof and supersedes and merges all prior agreements or understandings, whether written or oral. This Award Agreement may only be amended as described in Section 11 of the Plan.</FONT></P>
<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">5</FONT></P>
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<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">ATTACHMENT A <BR>ELECTION UNDER SECTION 83(B) <BR>OF THE INTERNAL REVENUE CODE OF 1986</FONT></B></P>
<P STYLE="text-indent: 15pt; text-align: justify"><FONT size=2 face="Times New Roman">The undersigned taxpayer hereby elects, pursuant to &#167;83(b) of the Internal Revenue Code, to include in taxpayer&#8217;s gross income or alternative minimum tax income, as applicable, for the current taxable year, the amount of any income that may be taxable to taxpayer in connection with taxpayer&#8217;s receipt of the property described below:</FONT></P>
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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: left; padding-right: 15pt"><B><I><FONT size=2 face="Times New Roman">1.</FONT></I></B></TD>
   <TD vAlign=top width="99%" align=left><B><I><FONT size=2 face="Times New Roman">The taxpayer&#8217;s name, address and taxpayer identification number are as follows:</FONT></I></B></TD></TR>
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   <TD vAlign=top width="99%" align=left><FONT size=2 face="Times New Roman">Name:</FONT></TD></TR>
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   <TD vAlign=top width="99%" align=left><FONT size=2 face="Times New Roman">Address:</FONT></TD></TR>
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   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
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   <TD vAlign=top width="99%" align=left><FONT size=2 face="Times New Roman">SS#</FONT></TD></TR>
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   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: left; padding-right: 15pt"><B><I><FONT size=2 face="Times New Roman">2.</FONT></I></B></TD>
   <TD vAlign=top width="99%" align=left><B><I><FONT size=2 face="Times New Roman">Description of property with respect to which the election is being made:</FONT></I></B></TD></TR>
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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: left; padding-right: 15pt"></TD>
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   <TD vAlign=top width="99%" align=left><FONT size=2 face="Times New Roman">________ shares of Common Stock of Southern First Bancshares, Inc., a South Carolina corporation (the &#8220;<U>Company</U>&#8221;), granted pursuant to a Restricted Stock Award under the Company&#8217;s Equity Incentive Plan.</FONT></TD></TR>
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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: left; padding-right: 15pt"></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: left; padding-right: 15pt"><B><I><FONT size=2 face="Times New Roman">3.</FONT></I></B></TD>
   <TD vAlign=top width="99%" align=left><B><I><FONT size=2 face="Times New Roman">The date on which the property was transferred is.</FONT></I></B></TD></TR>
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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: left; padding-right: 15pt"></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: left; padding-right: 15pt"></TD>
   <TD vAlign=top width="99%" align=left><FONT size=2 face="Times New Roman">The taxable year for which the election is made is calendar year&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;&nbsp;.</FONT></TD></TR>
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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: left; padding-right: 15pt"></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: left; padding-right: 15pt"><B><I><FONT size=2 face="Times New Roman">4.</FONT></I></B></TD>
   <TD vAlign=top width="99%" align=left><B><I><FONT size=2 face="Times New Roman">The property is subject to the following restrictions:</FONT></I></B></TD></TR>
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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: left; padding-right: 15pt"></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: left; padding-right: 15pt"></TD>
   <TD vAlign=top width="99%" align=left><FONT size=2 face="Times New Roman">The Restricted Shares are subject to a vesting schedule pursuant to which restrictions on transfer will lapse.</FONT></TD></TR>
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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: left; padding-right: 15pt"></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: left; padding-right: 15pt"><B><I><FONT size=2 face="Times New Roman">5.</FONT></I></B></TD>
   <TD vAlign=top width="99%" align=left><B><I><FONT size=2 face="Times New Roman">The fair market value at time of transfer (determined without regard to any restriction other than a restriction which by its terms will never lapse) of such property is $_________.</FONT></I></B></TD></TR>
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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: left; padding-right: 15pt"><B><I><FONT size=2 face="Times New Roman"></FONT></I></B></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: left; padding-right: 15pt"><B><I><FONT size=2 face="Times New Roman">6.</FONT></I></B></TD>
   <TD vAlign=top width="99%" align=left><B><I><FONT size=2 face="Times New Roman">Furnishing statement to employer:</FONT></I></B></TD></TR>
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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: left; padding-right: 15pt"><B><I><FONT size=2 face="Times New Roman"></FONT></I></B></TD>
   <TD vAlign=top width="99%" align=left>&nbsp;</TD></TR>
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   <TD STYLE="vertical-align: top; width: 1%; white-space: nowrap; text-align: left; padding-right: 15pt"></TD>
   <TD vAlign=top width="99%" align=left><FONT size=2 face="Times New Roman">A copy of this statement has been furnished to the Company.</FONT></TD></TR></TABLE>
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   <TD width="30%" noWrap align=left><FONT size=2 face="Times New Roman">Dated:</FONT></TD>
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   <TD STYLE="width: 45%; white-space: nowrap; text-align: left; padding-left: 30pt"><FONT size=2 face="Times New Roman">Taxpayer:</FONT></TD>
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<P style="TEXT-ALIGN: center"><FONT size=2 face="Times New Roman">6</FONT></P>
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<DESCRIPTION>OPINION OF NELSON MULLINS RILEY & SCARBOROUGH LLP
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   <TD VALIGN="TOP" WIDTH="35%" NOWRAP ALIGN="LEFT" STYLE="text-align: right"><FONT size=2 face=Arial>Exhibit 5.1</FONT></TD></TR>
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   <P style="TEXT-ALIGN: left"><B><FONT size=1 face=Arial color=#355889>NELSON MULLINS RILEY &amp; SCARBOROUGH LLP <BR></FONT></B><B><FONT size=1 face=Arial color=#679AC5>ATTORNEYS AND COUNSELORS AT LAW</FONT></B></P></TD></TR>
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   <TD vAlign=top width="35%" align=left><B><FONT size=1 face=Arial color=#485667>2 W. Washington Street, Suite
   400<BR>Greenville, SC 29601<BR>T: 864.373.2300 F: 864.373.2925<BR></FONT></B><B><FONT size=1 face=Arial color=#485667>nelsonmullins.com</FONT></B></TD></TR></TABLE>
<P style="TEXT-ALIGN: center"><FONT size=2 face=Arial>January 15, 2021</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=Arial>Southern First Bancshares, Inc. <BR>100 Verdae Boulevard, Suite 100 <BR>Greenville, SC 29607</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=Arial>RE: Registration Statement on Form S-8</FONT></P>
<P style="TEXT-ALIGN: left"><FONT size=2 face=Arial>Ladies and Gentlemen:</FONT></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face=Arial>We have acted as counsel to Southern First Bancshares, Inc. (the &#8220;Company&#8221;) in connection with the proposed registration by the Company of up to 450,000 shares of the Company&#8217;s common stock, par value $0.01 per share (the &#8220;Common Stock&#8221;), issuable under the Southern First Bancshares, Inc. 2020 Equity Incentive Plan (the &#8220;Plan&#8221;), pursuant to a Registration Statement on Form S-8 (such Registration Statement, as amended or supplemented, is hereinafter referred to as the &#8220;Registration Statement&#8221;) to be filed with the U.S. Securities and Exchange Commission (the &#8220;Commission&#8221;) under the Securities Act of 1933 (the &#8220;Act&#8221;). We have been advised that the Plan was adopted and approved by the shareholders of the Company on May 12, 2020 and the Company has represented that as of the date hereof, no awards have been granted under the Plan.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face=Arial>The opinions contained in this letter (herein called &#8220;our opinions&#8221;) are based exclusively upon the South Carolina Business Corporation Act, as now constituted. We express no opinion as to the applicability of, compliance with, or effect of any other law or governmental requirement with respect to the Company.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face=Arial>For purposes of this opinion, we have assumed the authenticity of all documents submitted to us as originals, the conformity to the originals of all documents submitted to us as copies and the authenticity of the originals of all documents submitted to us as copies. We have also assumed the legal capacity of all natural persons, the genuineness of the signatures of persons signing all documents in connection with which this opinion is rendered, the authority of such persons signing on behalf of the parties thereto and the due authorization, execution and delivery of all documents by the parties thereto. We have not independently established or verified any facts relevant to the opinion expressed herein, but have relied upon (i) statements and representations of officers and other representatives of the Company, and (ii) factual information we have obtained from such other sources as we have deemed reasonable.</FONT></P>


<P style="TEXT-ALIGN: center"><B><FONT size=1 face=Arial style="font-variant: small-caps" color=#485667>California | Colorado | District of Columbia | Florida | Georgia | Maryland | Massachusetts | New York<BR>North Carolina | South Carolina | Tennessee | West Virginia </FONT></B></P>

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<P style="TEXT-ALIGN: left"><FONT size=2 face=Arial>Southern First Bancshares, Inc. <BR>January 15, 2021 <BR>Page 2</FONT></P>

<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face=Arial>For purposes of this opinion, we have relied without any independent verification upon factual information supplied to us by the Company. We have assumed without investigation that there has been no relevant change or development between the dates as of which the information cited in the preceding sentences was given and the date of this letter and that the information upon which we have relied is accurate and does not omit disclosure necessary to prevent such information from being misleading.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face=Arial>Based upon and subject to the foregoing, we hereby advise you that in our opinion, each share of Common Stock registered under the Registration Statement and issuable under the Plan, when issued as authorized by the Company in accordance with the Plan and a valid award agreement entered into in accordance therewith, and when certificates representing such shares have been duly counter-signed by the Company&#8217;s transfer agent and registered by its registrar, upon receipt of the consideration to be received therefor (and provided that the board of directors shall have determined that such consideration is adequate), will be validly issued, fully paid and non-assessable.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face=Arial>Our opinion expressed above is subject to the qualifications that we express no opinion as to the applicability of, compliance with, or effect of (i) any bankruptcy, insolvency, reorganization, fraudulent transfer, fraudulent conveyance, moratorium or other similar law affecting the enforcement of creditors&#8217; rights generally; (ii) general principals of equity (regardless of whether enforcement is considered in a proceeding in equity or at law); (iii) public policy considerations which may limit the rights of parties to obtain certain remedies; and (iv) any laws except the South Carolina Business Corporation Act. Our advice on any legal issue addressed in this letter represents our opinion as to how that issue would be resolved were it to be considered by the highest court in the jurisdiction which enacted such law. The manner in which any particular issue would be treated in any actual court case would depend in part on facts and circumstances particular to the case, and this letter is not intended to guarantee the outcome of any legal dispute which may arise in the future.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face=Arial>This opinion is being rendered to be effective as of the effective date of the Registration Statement, and we hereby consent to the filing of this opinion with the Commission as Exhibit 5.1 to the Registration Statement. In giving this consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission.</FONT></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face=Arial>We do not find it necessary for the purposes of this opinion, and accordingly we do not purport to cover herein, the application of the securities or &#8220;Blue Sky&#8221; laws of the various states to the issuance and sale of each share of Common Stock registered under the Registration Statement.</FONT></P>

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<P style="TEXT-ALIGN: left"><FONT size=2 face=Arial>Southern First Bancshares, Inc. <BR>
January 15, 2021 <BR>
Page 3</FONT></P>
<P STYLE="text-indent: 15pt; text-align: left"><FONT size=2 face=Arial>This opinion is limited to the specific issues addressed herein, and no opinion may be inferred or implied beyond that expressly stated herein. We assume no obligation to revise or supplement this opinion should the present South Carolina Business Corporation Act be changed by legislative action, judicial decision or otherwise, should there be factual developments which might affect any matters or opinions set forth herein or for any other reason. This opinion is furnished to you in connection with the filing of the Registration Statement and is not to be used, circulated, quoted or otherwise relied upon for any other purpose.</FONT></P>
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   <TD STYLE="width: 100%; white-space: nowrap; text-align: left"><FONT size=2 face=Arial>Very truly yours,</FONT></TD></TR>
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   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face=Arial>&nbsp;</FONT></TD></TR>
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   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face=Arial>/s/ Nelson Mullins Riley &amp; Scarborough, LLP</FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="white-space: nowrap; text-align: left">&nbsp;<FONT size=2 face=Arial></FONT></TD></TR>
<TR vAlign=bottom>
   <TD STYLE="white-space: nowrap; text-align: left"><FONT size=2 face=Arial>NELSON MULLINS RILEY &amp; SCARBOROUGH, LLP</FONT></TD></TR></TABLE> </div>
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<DESCRIPTION>CONSENT OF ELLIOTT DAVIS, LLC
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<P style="TEXT-ALIGN: right"><FONT size=2 face="Times New Roman">Exhibit 23.2</FONT></P>
<P style="TEXT-ALIGN: center"><B><FONT size=2 face="Times New Roman">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</FONT></B></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">The Board of Directors<BR></FONT><FONT size=2 face="Times New Roman">Southern First Bancshares, Inc. and Subsidiary</FONT></P>
<P style="TEXT-ALIGN: justify"><FONT size=2 face="Times New Roman">We consent to the incorporation by reference in the Registration Statement on Form S-8 of Southern First Bancshares,
Inc. of our reports dated March 2, 2020, relating to the consolidated financial statements, and the effectiveness of internal
control  over  financial  reporting  of  Southern  First  Bancshares,  Inc.  and  Subsidiary,  appearing  in  the  Annual  Report  to
Shareholders, which is incorporated in the  Annual Report on Form 10-K of Southern First Bancshares, Inc. for the year ended December 31, 2019.</FONT></P>
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   <TD width="100%" noWrap align=left><FONT size=2 face="Times New Roman">/s/ Elliott Davis, LLC</FONT></TD></TR>
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   <TD>&nbsp;</TD></TR>
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   <TD width="100%" noWrap align=left><FONT size=2 face="Times New Roman">Greenville, South Carolina</FONT></TD></TR>
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   <TD width="100%" noWrap align=left><FONT size=2 face="Times New Roman">January 15, 2021</FONT></TD></TR></TABLE>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
