---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-026453"
form_type: "8-K"
ticker: "FUNC"
cik: "0000763907"
company_name: "FIRST UNITED CORP/MD/"
filed_at: "2026-03-11T23:59:59+00:00"
generated_at: "2026-05-15T15:17:52.032816+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# First United boosts CEO Rush's change-in-control severance to 2.99x from 2.0x

## Summary
- CEO Jason B. Rush's severance multiplier increased from 2.0x to 2.99x Final Pay under amended agreement.
- Agreement automatically renews for one-year terms unless company provides 6 months' advance notice.
- Other severance benefits unchanged: equity vesting, welfare benefit continuation, outplacement services.
- Benefits subject to excise tax reduction under Section 280G and require signed release within 60 days.

## SEC filing metadata
- accession: 0001104659-26-026453
- form_type: 8-K
- ticker: FUNC
- cik: 0000763907
- company_name: FIRST UNITED CORP/MD/
- filed_at: 2026-03-11T23:59:59+00:00
- event_type: other
- 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/763907/000110465926026453/0001104659-26-026453-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/763907/000110465926026453/tm268593d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-026453
- JSON: https://secwatch.observer/filing/0001104659-26-026453.json
- Plain text: https://secwatch.observer/filing/0001104659-26-026453.txt

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