[SCHEDULE 13G] First United Corp SEC Filing

Rhea-AI Filing Summary

The Vanguard Group filed a Schedule 13G disclosing a 5.57 % beneficial stake in First Community Corp (FCCO) as of 30 Jun 2025. The position totals 428,077 common shares (CUSIP 319835104), pushing Vanguard above the 5 % reporting threshold.

The filing, made under Rule 13d-1(b) as an investment adviser (IA), is classified as passive ownership. Vanguard reports no sole voting power, only 4,061 shares of shared voting power, implying the stake is largely held in index and other client accounts. Dispositive authority, however, is substantial: 421,532 shares sole and 6,545 shares shared. The certification confirms the shares were acquired in the ordinary course of business with no intent to influence control.

This disclosure adds a new, sizable institutional holder to FCCO’s share register, potentially improving liquidity and market visibility, but the negligible voting power limits immediate governance impact.

Positive

• Vanguard’s 5.57 % stake introduces a reputable, long-term institutional holder, potentially enhancing liquidity and investor confidence.
• Large sole dispositive power (421,532 shares) suggests flexibility for portfolio adjustments without immediate voting pressure on management.

Negative

• Vanguard reports 0 sole voting power, limiting any supportive votes in critical shareholder matters.
• The stake is passive under Rule 13d-1(b), indicating no strategic intent to influence corporate direction.

Insights

Securities Analyst

TL;DR: Vanguard’s 5.6 % passive stake strengthens FCCO’s institutional base—modestly bullish signal.

Crossing the 5 % threshold brings a high-profile, low-cost index manager onto the register. Although Vanguard claims 0 sole voting power, the 428 k-share position can broaden FCCO’s investor audience and enhance secondary-market liquidity. Passive funds rarely agitate for change, so governance influence is limited, yet their long-term horizon provides a sticky shareholder base. Net effect is mildly positive for valuation sentiment but not transformational.

Corporate Governance Expert

TL;DR: Passive holding increases float, but zero voting control means negligible governance impact.

Because Vanguard retains sole dispositive but not voting authority, any activist leverage is minimal. Management should not expect meaningful support or opposition from this block in contested matters. From a governance perspective, the filing is neutral; it reflects routine index inclusion rather than a strategic move.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

First United Corp

(Name of Issuer)

Common Stock

(Title of Class of Securities)

33741H107

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 33741H107

1

Names of Reporting Persons

The Vanguard Group

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,505.00
7	Sole Dispositive Power 339,872.00
8	Shared Dispositive Power 4,755.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

344,627.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.31 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: First United Corp
(b)	Address of issuer's principal executive offices: 19 South Second Street, PO Box 9, Oakland, MD, 21550
Item 2.
(a)	Name of person filing: The Vanguard Group
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd., Malvern, PA 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 33741H107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 344627
(b)	Percent of class: 5.31 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 2505
	(iii) Sole power to dispose or to direct the disposition of: 339872
	(iv) Shared power to dispose or to direct the disposition of: 4755
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

The Vanguard Group

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	07/29/2025

FAQ

How many First Community Corp (FCCO) shares does Vanguard own?

Vanguard beneficially owns 428,077 common shares, representing 5.57 % of the outstanding class.

Does Vanguard have voting control over its FCCO shares?

Vanguard reports 0 sole voting power and 4,061 shares of shared voting power, indicating minimal voting influence.

Is Vanguard’s FCCO position considered active or passive?

The Schedule 13G was filed under Rule 13d-1(b) as an investment adviser, classifying the holding as passive.

What is the significance of crossing the 5 % threshold?

Owning more than 5 % of a class of registered equity securities triggers mandatory disclosure via Schedule 13G or 13D.

When was the event date for Vanguard’s FCCO stake?

The reportable event date is June 30, 2025; the filing was signed on July 29, 2025.