What triggered the tax-withholding share disposition reported by Keith Sanders?

The disposition was triggered by the vesting of time-vesting restricted stock units granted under an award agreement. Shares were surrendered to FIRST UNITED CORP to cover tax withholding, as permitted by the agreement and approved by the Compensation Committee.

FIRST UNITED CORP (FUNC) EVP reports tax-withholding share disposition on vested RSUs

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

FIRST UNITED CORP/MD/ executive Keith Sanders reported a routine tax-withholding share disposition. On May 20, he surrendered 120 shares of common stock at $36.88 per share to the issuer to satisfy tax withholding obligations tied to vesting restricted stock units. After this transaction, he directly holds 15,341.8195 shares of common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Sanders Keith

Role EVP & Chief Wealth Officer

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	120	$36.88	$4K

Holdings After Transaction: Common Stock — 15,341.82 shares (Direct, null)

Footnotes (1)

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Key Figures

Tax-withholding shares: 120 shares Price per share: $36.88 per share Post-transaction holdings: 15,341.8195 shares +1 more

4 metrics

Tax-withholding shares 120 shares Shares surrendered to issuer for tax withholding

Price per share $36.88 per share Value used for tax-withholding disposition

Post-transaction holdings 15,341.8195 shares Direct common stock held after disposition

Tax-withholding transactions 1 transaction, 120 shares Aggregate tax-withholding activity in this Form 4

Key Terms

restricted stock units, tax withholding obligations, Compensation Committee, Form 4

4 terms

restricted stock units financial

"vesting of time-vesting restricted stock units that were granted"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

tax withholding obligations financial

"satisfaction of the tax withholding obligations associated with the vesting"

Compensation Committee financial

"as permitted by the related award agreement and approved by the issuer's Compensation Committee"

A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.

Form 4 regulatory

"INSIDER FILING DATA (Form 4):"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Form 4 Insider Transactions: What Each Field Means →

05/21/2026 - 03:39 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Sanders Keith

(Last)

(First)

(Middle)

19 SOUTH SECOND STREET

(Street)

OAKLAND

MARYLAND

21550

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
FIRST UNITED CORP/MD/ [ FUNC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP & Chief Wealth Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/20/2021		F		120⁽¹⁾	D	$36.88	15,341.8195	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The shares were surrendered to the issuer in satisfaction of the tax withholding obligations associated with the vesting of time-vesting restricted stock units that were granted on May 20, 2024 as permitted by the related award agreement and approved by the issuer's Compensation Committee.

	/s/ Keith R. Sanders	05/21/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did FIRST UNITED CORP (FUNC) EVP Keith Sanders report?

Keith Sanders reported surrendering 120 shares of FIRST UNITED CORP common stock to the company. The shares were used to cover tax withholding tied to vesting restricted stock units, rather than an open-market sale.

Was Keith Sanders’ Form 4 transaction in FUNC stock an open-market sale?

No, the Form 4 shows a tax-withholding disposition, not an open-market sale. Shares were surrendered to FIRST UNITED CORP to satisfy tax obligations from vesting restricted stock units approved by the Compensation Committee.

How many FUNC shares did Keith Sanders surrender for tax withholding?

He surrendered 120 shares of FIRST UNITED CORP common stock at $36.88 per share. This was done to meet tax withholding obligations related to the vesting of time-vesting restricted stock units granted under an award agreement.

How many FIRST UNITED CORP (FUNC) shares does Keith Sanders hold after this filing?

After the tax-withholding disposition, Keith Sanders directly holds 15,341.8195 shares of FIRST UNITED CORP common stock. This reflects his remaining position following the surrender of 120 shares back to the issuer for tax obligations.