First United revises LTIP performance RSUs; uses peer-relative ROAE and TBVPSG goals

FIRST UNITED CORP/MD/

Compensation Committee approved new Appendix A to LTIP on May 20, 2024, for 2024-2026 performance period.
Performance goals: ROAE and TBVPSG vs. a custom peer group of 123 banks with assets $750M-$4B.
Payout rates: threshold (25th percentile) 25%, target (50th) 50%, maximum (75th) 75% of award.
CEO: 30% of base salary award (2/3 performance, 1/3 time-vesting); Tier I execs (CFO, COO, CRO, CWO): 20% (1/2 each).
Time awards vest ratably over 3 years; performance awards vest in 2027 after committee certification.

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