Keith Sanders - Mar 9, 2022 Form 4 Insider Report for FIRST UNITED CORP/MD/ (FUNC)

Role
SVP & Senior Trust Officer
Signature
/s/ Keith R. Sanders
Stock symbol
FUNC
Transactions as of
Mar 9, 2022
Transactions value $
-$19,364
Form type
4
Date filed
3/10/2022, 09:28 AM
Previous filing
May 28, 2021
Next filing
Mar 10, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FUNC Common Stock Award $0 +775 +6.29% $0.00 13.1K Mar 9, 2022 Direct F1, F2
transaction FUNC Common Stock Tax liability -$19.4K -885 -6.76% $21.88 12.2K Mar 9, 2022 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares were issued pursuant to performance-vesting restricted stock units ("RSUs") that were granted on March 26, 2020 and vested at the maximum award level on March 9, 2022. The RSUs were previously reported in a Form 4 filed on March 30, 2020 (the "Prior Form 4"). The amount reported in Table I of the Prior Form 4 reflected the shares that could be issued under the RSUs at the target award level. The amount reported in this Form 4 represents the difference between the shares earned by the reporting person at the maximum award level (as disclosed in footnote 2 to the Prior Form 4) and the target shares that were reported in Table I of the Prior Form 4.
F2 The amount includes 88.0795 previously unreported shares acquired with reinvested cash dividends pursuant to the First United Corporation Dividend Reinvestment and Stock Purchase Plan for which the reporting person does not have acquisition information.
F3 The shares were surrendered to the issuer in satisfaction of the tax withholding obligations associated with the vesting of the RSUs as permitted by the related award agreement and approved by the issuer's Compensation Committee.