secwatch.observer — SEC 8-K summary
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Issuer:     FIRST UNITED CORP/MD/ (FUNC)
CIK:        0000763907
Form:       8-K
Filed at:   2024-06-07T23:59:59+00:00
Accession:  0001104659-24-069679
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/763907/000110465924069679/0001104659-24-069679-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/763907/000110465924069679/tm2416659d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-069679

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer