Form 4: First United Corp Director Acquires Shares and Surrenders Shares for Tax Obligations

Carissa Lynn Rodeheaver, Chairman, President & CEO of First United Corp, reports acquisition of shares through vesting of restricted stock units and surrender of shares for tax obligations.

Summary

• On March 17, 2025, Carissa Lynn Rodeheaver, Chairman, President & CEO of First United Corp, acquired 764 shares of common stock through the vesting of restricted stock units (RSUs) at a price of $0.
• On the same day, she surrendered 360 shares of common stock to the issuer at a price of $30.1 to satisfy tax withholding obligations associated with the vesting of the RSUs.
• Following these transactions, Rodeheaver directly owns 46,367.7793 shares of common stock.
• She also indirectly owns 83.8477 shares through her spouse as UTMA custodian for her son and 910.9759 shares through a 401(k) plan.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The transactions are routine and expected as part of the executive's compensation package. There is no indication of unusual activity or concern.

Positives

• The acquisition of shares through RSU vesting indicates a belief in the company's future performance.

Negatives

• The surrender of shares to cover tax obligations, while a common practice, slightly reduces the executive's overall holdings.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Comparison to Industry Standards

• Executive compensation packages often include RSUs as a way to align management's interests with those of shareholders.
• The practice of surrendering shares to cover tax obligations is a standard procedure in RSU vesting.
• Comparable companies such as Community Trust Bancorp (CTBI) and WesBanco (WSBC) also utilize RSU grants as part of their executive compensation plans, as disclosed in their respective SEC filings.

Stakeholder Impact

• The transactions have a minimal impact on shareholders, as they are related to executive compensation and tax obligations.

Key Dates