---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-027140"
form_type: "8-K"
ticker: "FUNC"
cik: "0000763907"
company_name: "FIRST UNITED CORP/MD/"
filed_at: "2026-03-12T23:59:59+00:00"
generated_at: "2026-05-15T14:29:04.016557+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# First United revises LTIP RSU metrics, sets 2026 STIP cash award ranges for executives

## Summary
- LTIP performance-vesting RSUs now based on ROAE and TBVPSG vs. 103-bank peer group (assets $1B-$4.2B); 3-year period ending Dec 31, 2028.
- CEO Jason B. Rush LTIP target award: 30% of base salary; 2/3 performance-vesting, 1/3 time-vesting.
- 2026 STIP: CEO cash award range $71,250 (threshold) to $213,750 (maximum); target $142,500.
- STIP metrics: ROAA (40% weight), efficiency ratio (20%), avg delinquencies (20%), individual performance (20%).
- STIP minimum trigger: net income must be at least 50% of 2026 goal or no payout.

## SEC filing metadata
- accession: 0001104659-26-027140
- form_type: 8-K
- ticker: FUNC
- cik: 0000763907
- company_name: FIRST UNITED CORP/MD/
- filed_at: 2026-03-12T23:59:59+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/763907/000110465926027140/0001104659-26-027140-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/763907/000110465926027140/tm268693d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-027140
- JSON: https://secwatch.observer/filing/0001104659-26-027140.json
- Plain text: https://secwatch.observer/filing/0001104659-26-027140.txt

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