Keith Sanders - Mar 8, 2023 Form 4 Insider Report for FIRST UNITED CORP/MD/ (FUNC)

Signature
/s/ Keith Sanders
Stock symbol
FUNC
Transactions as of
Mar 8, 2023
Transactions value $
-$9,765
Form type
4
Date filed
3/10/2023, 10:47 AM
Previous filing
Mar 10, 2022
Next filing
Mar 13, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FUNC Common Stock Award $0 +798 +6.54% $0.00 13K Mar 8, 2023 Direct F1
transaction FUNC Common Stock Tax liability -$9.77K -500 -3.85% $19.53 12.5K Mar 8, 2023 Direct F2
transaction FUNC Common Stock Award $0 +314 +2.51% $0.00 12.8K Mar 9, 2023 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, 2023. 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, or 1,597 shares. 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 4 to the Prior Form 4) and the target shares that were reported in Table I of the Prior Form 4.
F2 The shares were surrendered to the issuer in satisfaction of the tax withholding obligations associated with the vesting of the performance-vesting RSUs as permitted by the related award agreement and approved by the issuer's Compensation Committee.
F3 The shares were issued pursuant to time-vesting RSUs granted on March 9, 2022 relating to 942 shares of common stock that vest ratably over three years if the reporting person is employed on each applicable vesting date.