First United (FUNC) CFO receives RSU shares, surrenders some for taxes

Rhea-AI Filing Summary

FIRST UNITED CORP/MD/ EVP & CFO Tonya K. Sturm reported equity compensation activity involving the company’s common stock. She acquired 428 shares on March 16, 2026 as a stock award tied to time-vesting restricted stock units originally granted on March 15, 2023.

On the same date, 144 shares were surrendered back to the company at $35.99 per share to cover tax withholding obligations related to the RSU vesting, as allowed under the award agreement and approved by the Compensation Committee. After these transactions, she directly holds 11,840.9988 shares of common stock and indirectly holds 5.4999 shares through a 401(k) plan.

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

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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)
03/16/2026

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	03/16/2026		A		428(1)	A	$0	11,984.9988	D
Common Stock	03/16/2026		F		144(2)	D	$35.99	11,840.9988	D
Common Stock								5.4999	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 time-vesting restricted stock units ("RSUs") that were granted on March 15, 2023.

2. 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.

	/s/ Tonya K. Sturm	03/17/2026
	** 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 stock transactions did FUNC EVP & CFO Tonya K. Sturm report?

Tonya K. Sturm reported an RSU-related stock award and tax share surrender. She received 428 shares of First United common stock from time-vesting RSUs and surrendered 144 shares to the issuer to satisfy tax withholding obligations tied to that vesting event.

How many FUNC shares does Tonya K. Sturm hold after these Form 4 transactions?

After the reported transactions, Tonya K. Sturm holds 11,840.9988 FUNC shares directly. She also has an additional 5.4999 shares held indirectly through a 401(k) plan, giving investors a clearer picture of her overall equity position in the company.

Was Tonya K. Sturm’s FUNC share surrender a market sale?

The share surrender was not an open-market sale. The 144 shares were surrendered to the issuer at $35.99 per share to cover tax withholding on vested RSUs, as permitted by the award agreement and approved by the Compensation Committee, rather than sold on the market.

What is the origin of the FUNC RSUs that vested for Tonya K. Sturm?

The vested shares came from time-vesting restricted stock units granted on March 15, 2023. These RSUs converted into 428 shares of First United common stock upon vesting on March 16, 2026, triggering both the share issuance and associated tax withholding transaction.

Does the FUNC Form 4 show any remaining derivative or option positions for Tonya K. Sturm?

The disclosed data does not show any remaining derivative positions in this filing. The derivativeSummary section is empty, and the reported transactions all involve non-derivative common stock tied to RSU vesting and tax withholding, not options or other derivative securities.

How should investors interpret the tax withholding transaction in FUNC’s Form 4?

The tax withholding transaction is a routine administrative event. The 144 surrendered shares fulfilled tax obligations arising from RSU vesting, rather than reflecting a discretionary decision to sell shares in the open market, making its informational value for sentiment relatively limited.