Rodeheaver (FUNC) logs RSU vesting, forfeitures and tax-share surrender on retirement

Rhea-AI Filing Summary

FIRST UNITED CORP/MD/ director Carissa Lynn Rodeheaver reported multiple equity compensation-related transactions in Common Stock on May 7, 2026, tied to her retirement from the board. She acquired 1,085 shares and 3,023 shares through vesting of performance-vesting RSUs granted in May 2024 and February 2025.

In connection with the same retirement event, 406 shares and 235 shares from earlier time-vesting RSU grants were forfeited without vesting, and 2,638 shares were surrendered to the issuer to satisfy tax withholding obligations at a price of $37.54 per share. After these transactions, she directly held 52,007.8052 shares, with additional indirect holdings through a 401(k) plan and shares held by her spouse as UTMA custodian for their son.

Insights

Corporate governance and insider transactions analyst

Routine equity grant vesting, forfeitures, and tax withholding linked to a planned board retirement.

The filing shows Carissa Lynn Rodeheaver receiving 1,085 and 3,023 Common Stock shares from performance-vesting RSUs as part of director compensation. These vest upon her retirement, while separate time-vesting RSUs are forfeited, reflecting standard plan mechanics rather than discretionary trading.

She surrendered 2,638 shares at $37.54 per share to cover tax obligations on the RSU vesting, a non-market disposition that does not indicate a view on the stock. Following these events, she still directly holds 52,007.8052 shares, alongside smaller indirect positions, suggesting an ongoing equity stake despite stepping off the board.

Insider Trade Summary

7 transactions reported

Mixed 7 txns

Insider Rodeheaver Carissa Lynn

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	3,023	$0.00	--
Grant/Award	Common Stock	1,085	$0.00	--
Disposition	Common Stock	235	$0.00	--
Disposition	Common Stock	406	$0.00	--
Tax Withholding	Common Stock	2,638	$37.54	$99K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 50,922.805 shares (Direct, null); Common Stock — 86.837 shares (Indirect, By spouse as UTMA custodian for son)

Footnotes (1)

1. The shares were issued pursuant to performance-vesting restricted stock units ("RSUs") that were granted on May 20, 2024. A pro rata portion of the RSUs vested on May 7, 2026 in connection with the reporting person's retirement from the issuer's board of directors. The shares were issued pursuant to performance-vesting restricted stock units ("RSUs") that were granted on February 25, 2025. A pro rata portion of the RSUs vested on May 7, 2026 in connection with the reporting person's retirement from the issuer's board of directors. The shares were previously reported in connection with the grant of time-vesting RSUs on May 20, 2024 and were forfeited without vesting in connection with the reporting person's retirement from the issuer's board of directors on May 7, 2026. The shares were previously reported in connection with the grant of time-vesting RSUs on February 25, 2025 and were forfeited without vesting in connection with the reporting person's retirement from the issuer's board of directors on May 7, 2026. The shares were surrendered to the issuer in satisfaction of the tax withholding obligations associated with the vesting of the performance-vesting RSUs identified above as permitted by the related award agreements and approved by the issuer's Compensation Committee.

Key Figures

Tax-withholding shares: 2,638 shares Tax-withholding price: $37.54 per share RSU vesting grant 2024: 1,085 shares +5 more

8 metrics

Tax-withholding shares 2,638 shares Surrendered to issuer for tax withholding on May 7, 2026

Tax-withholding price $37.54 per share Value used for 2,638 surrendered shares

RSU vesting grant 2024 1,085 shares Performance-vesting RSUs granted May 20, 2024, vested May 7, 2026

RSU vesting grant 2025 3,023 shares Performance-vesting RSUs granted February 25, 2025, vested May 7, 2026

Forfeited RSUs 2024 grant 406 shares Time-vesting RSUs forfeited on May 7, 2026

Forfeited RSUs 2025 grant 235 shares Time-vesting RSUs forfeited on May 7, 2026

Direct holdings after transactions 52,007.8052 shares Common Stock held directly following May 7, 2026 events

Indirect 401(k) holdings 942.2949 shares Common Stock held indirectly via 401(k) plan

Key Terms

performance-vesting restricted stock units ("RSUs"), time-vesting RSUs, tax withholding obligations, UTMA custodian, +1 more

5 terms

performance-vesting restricted stock units ("RSUs") financial

"The shares were issued pursuant to performance-vesting restricted stock units ("RSUs") that were granted on May 20, 2024."

time-vesting RSUs financial

"The shares were previously reported in connection with the grant of time-vesting RSUs on May 20, 2024 and were forfeited without vesting"

tax withholding obligations financial

"The shares were surrendered to the issuer in satisfaction of the tax withholding obligations associated with the vesting of the performance-vesting RSUs"

UTMA custodian financial

"By spouse as UTMA custodian for son"

Compensation Committee financial

"permitted by the related award agreements 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.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/30/2026 - 10:52 AM Accepted by SEC EDGAR 06/30/2026 - 10:52 AM Learn about SEC filing dates

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

X

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^*

Rodeheaver Carissa Lynn

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/07/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/07/2026		A		3,023(1)	A	$0	50,922.8052	D
Common Stock	05/07/2026		A		1,085(2)	A	$0	52,007.8052	D
Common Stock	05/07/2026		D		235(3)	D	$0	51,772.8052	D
Common Stock	05/07/2026		D		406(4)	D	$0	51,366.8052	D
Common Stock	05/07/2026		F		2,638(5)	D	$37.54	48,728.8052	D
Common Stock								86.8373	I	By spouse as UTMA custodian for son
Common Stock								942.2949	I	By 401(k) plan

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The shares were issued pursuant to performance-vesting restricted stock units ("RSUs") that were granted on May 20, 2024. A pro rata portion of the RSUs vested on May 7, 2026 in connection with the reporting person's retirement from the issuer's board of directors.

2. The shares were issued pursuant to performance-vesting restricted stock units ("RSUs") that were granted on February 25, 2025. A pro rata portion of the RSUs vested on May 7, 2026 in connection with the reporting person's retirement from the issuer's board of directors.

3. The shares were previously reported in connection with the grant of time-vesting RSUs on May 20, 2024 and were forfeited without vesting in connection with the reporting person's retirement from the issuer's board of directors on May 7, 2026.

4. The shares were previously reported in connection with the grant of time-vesting RSUs on February 25, 2025 and were forfeited without vesting in connection with the reporting person's retirement from the issuer's board of directors on May 7, 2026.

5. The shares were surrendered to the issuer in satisfaction of the tax withholding obligations associated with the vesting of the performance-vesting RSUs identified above as permitted by the related award agreements and approved by the issuer's Compensation Committee.

	/s/ Carissa L. Rodeheaver	06/30/2026
	** 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)

FAQ

What insider transactions did Carissa Lynn Rodeheaver report for FIRST UNITED CORP/MD (FUNC)?

She reported equity compensation-related transactions in Common Stock on May 7, 2026, tied to her board retirement. Performance-vesting RSUs vested into 1,085 and 3,023 shares, while some time-vesting RSUs were forfeited and 2,638 shares were surrendered to cover tax withholding obligations.

How many FIRST UNITED CORP/MD (FUNC) shares did Rodeheaver acquire through RSU vesting?

She acquired 1,085 shares and 3,023 shares of Common Stock through vesting of performance-vesting RSUs. These RSUs were originally granted on May 20, 2024 and February 25, 2025, and a pro rata portion vested on May 7, 2026 upon her retirement from the board.

What shares were forfeited by Carissa Lynn Rodeheaver in this FUNC Form 4 filing?

She forfeited 406 shares and 235 shares that had been previously reported as time-vesting RSUs granted in May 2024 and February 2025. These RSUs did not vest and were forfeited in connection with her retirement from the FIRST UNITED CORP/MD board on May 7, 2026.

Why did Rodeheaver surrender 2,638 FUNC shares and at what price?

She surrendered 2,638 Common Stock shares to FIRST UNITED CORP/MD to satisfy tax withholding obligations on the vesting of performance-vesting RSUs. The shares were valued at $37.54 per share, as permitted by the award agreements and approved by the issuer’s Compensation Committee.

How many FIRST UNITED CORP/MD shares does Rodeheaver hold after these transactions?

After the reported transactions on May 7, 2026, she directly holds 52,007.8052 shares of FIRST UNITED CORP/MD Common Stock. She also has indirect holdings of 942.2949 shares through a 401(k) plan and 86.8373 shares held by her spouse as UTMA custodian for their son.

Are Rodeheaver’s reported FUNC transactions open-market buys or sells?

No, the reported actions are compensation-related grants, vesting, forfeitures, and tax-withholding dispositions rather than open-market trades. RSUs vested into shares, some RSUs were forfeited without vesting, and 2,638 shares were surrendered to the issuer to satisfy tax obligations associated with the RSU vesting.