---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-069679"
form_type: "8-K"
ticker: "FUNC"
cik: "0000763907"
company_name: "FIRST UNITED CORP/MD/"
filed_at: "2024-06-07T23:59:59+00:00"
generated_at: "2026-06-01T05:45:07.507028+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# First United Corp sets 2024/2025 ROAE-based cash bonus targets for five executives

## Summary
- Comp Committee on June 7, 2024 approved cash incentive awards for NEOs based on 3-year ROAE vs a peer group of 123 banks.
- 2024 ROAE Awards payable by March 2025; threshold 50% / target 100% of award amount based on base salary as of Dec 31, 2021.
- 2025 ROAE Awards payable by March 2026; threshold 50% / target 100% / max 150% based on base salary as of Dec 31, 2022.
- CEO Carissa Rodeheaver eligible for target bonuses of $81,299 (2024) and $83,738 (2025); max $125,607 in 2025.
- Payouts reduced dollar-for-dollar by fair value of performance-vesting RSUs granted in March 2022 and March 2023.

## SEC filing metadata
- accession: 0001104659-24-069679
- form_type: 8-K
- ticker: FUNC
- cik: 0000763907
- company_name: FIRST UNITED CORP/MD/
- filed_at: 2024-06-07T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/763907/000110465924069679/0001104659-24-069679-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/763907/000110465924069679/tm2416659d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-069679
- JSON: https://secwatch.observer/filing/0001104659-24-069679.json
- Plain text: https://secwatch.observer/filing/0001104659-24-069679.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.