Form 4: First United Corp SVP & CFO Tonya K. Sturm Reports Tax Withholding Transaction
SEC Form 4 Filing
Tonya K. Sturm, SVP & CFO of First United Corp, reports the surrender of shares to cover tax obligations related to vesting restricted stock units.
Summary
- On May 6, 2024, Tonya K. Sturm, SVP & CFO of First United Corp, surrendered 75 shares of common stock to the issuer to satisfy tax withholding obligations.
- The shares were surrendered at a price of $22.79 per share.
- Following the transaction, Sturm directly owns 8,225.5481 shares of common stock and indirectly owns 5.3218 shares through a 401(k) plan.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to tax obligations, indicating a neutral sentiment.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates a standard tax withholding procedure related to stock vesting.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard procedure for tax withholding.
Key Dates
| Date | Description |
|---|---|
| 05/05/2021 | Date of grant for the time-vesting restricted stock units. |
| 05/06/2024 | Date of the transaction where shares were surrendered for tax withholding. |
| 05/08/2024 | Date of signature on the Form 4. |
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