First United (FUNC) CFO surrenders shares to cover RSU taxes

Rhea-AI Filing Summary

First United Corp. EVP & CFO Tonya K. Sturm reported a routine tax-related share disposition. On May 20, 2026, she surrendered 133 shares of Common Stock at $36.88 per share to the company to satisfy tax withholding obligations tied to the vesting of time-vesting restricted stock units that were granted on May 20, 2024. After this non-market transaction, she directly holds 11,775.5977 shares of First United Corp. common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Sturm Tonya K.

Role EVP & CFO

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	133	$36.88	$5K

Holdings After Transaction: Common Stock — 11,775.598 shares (Direct, null)

Footnotes (1)

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Key Figures

Shares surrendered for taxes: 133 shares Price per share: $36.88 per share Shares owned after transaction: 11,775.5977 shares

3 metrics

Shares surrendered for taxes 133 shares Tax withholding disposition on May 20, 2026

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

Shares owned after transaction 11,775.5977 shares Direct common stock holdings following disposition

Key Terms

time-vesting restricted stock units, tax withholding obligations, Compensation Committee

3 terms

time-vesting restricted stock units financial

"the vesting of time-vesting restricted stock units that were granted on May 20, 2024"

tax withholding obligations financial

"surrendered to the issuer in 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 Insider Transactions: What Each Field Means →

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
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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^*

Sturm Tonya K.

(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 & CFO

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/20/2026		F		133(1)	D	$36.88	11,775.5977	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

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/ Tonya K. Sturm	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)

FAQ

What did FUNC executive Tonya K. Sturm report in this Form 4 filing?

Tonya K. Sturm reported surrendering shares to cover tax withholding on vested restricted stock units. The transaction reflects a routine compensation-related event, not an open-market trade, and was carried out in connection with her equity award agreement.

How many First United (FUNC) shares were surrendered for taxes in this transaction?

Sturm surrendered 133 shares of First United common stock. These shares were delivered back to the issuer to satisfy tax withholding obligations arising from the vesting of time-vesting restricted stock units granted on May 20, 2024 under her award agreement.

Was Tonya Sturm’s FUNC share disposition an open-market sale?

No, the disposition was not an open-market sale. The shares were surrendered directly to First United Corp. to satisfy tax withholding obligations linked to the vesting of restricted stock units, as permitted by the award agreement and approved by the Compensation Committee.

How many FUNC shares does Tonya K. Sturm own after this reported transaction?

Following the tax-withholding disposition, Sturm directly owns 11,775.5977 shares of First United common stock. This figure reflects her remaining direct holdings after surrendering 133 shares back to the issuer to cover associated tax obligations.

What triggered the tax-withholding share surrender reported by FUNC’s CFO?

The surrender was triggered by the vesting of time-vesting restricted stock units granted on May 20, 2024. Under the related award agreement, she could deliver shares to cover tax withholding, and this approach was approved by the issuer’s Compensation Committee.