4//SEC Filing
Sanders Keith 4
Accession 0001014100-20-000022
CIK 0000763907other
Filed
Mar 29, 8:00 PM ET
Accepted
Mar 30, 4:12 PM ET
Size
9.8 KB
Accession
0001014100-20-000022
Insider Transaction Report
Form 4
Sanders Keith
Senior Trust Officer
Transactions
- Award
Common Stock
2020-03-26+1,550→ 8,154.74 total - Award
Common Stock
2020-03-26+1,597→ 10,549.74 total - Award
Common Stock
2020-03-26+798→ 8,952.74 total
Footnotes (4)
- [F1]The shares correspond to restricted stock units each of which represents the contingent right to receive one share of common stock of First United Corporation ("RSUs").
- [F2]The RSUs will vest on March 15, 2022 if certain performance goas are satisfied for the three-year period ending December 31, 2021 and the reporting person is employed on such date. The number of shares reported reflects the target number of shares that could be issued under the RSUs, assuming that at least one of the performance objectives is met at the "target" level. If the performance objectives are met at the "threshold" level, then the number of shares for which the RSUs will be settled will be 775. If the performance objectives are met at the "maximum" level, then the number of shares for which the RSUs will be settled will be 2,325. Actual vesting amounts will be pro-rated between threshold and target levels and target and maximum levels to reward incremental improvement.
- [F3]The RSUs will vest ratably over three years beginning on March 26, 2021 if the reporting person is employed on each applicable vesting date.
- [F4]The shares correspond to performance-vesting RSUs granted to the reporting person. The RSUs will vest on March 15, 2023 if certain performance goas are satisfied for the three-year performance period ending on December 31, 2022 and the reporting person remains employed on such date. The number of shares reported reflects the target number of shares that could be issued under the RSUs, assuming that at least one of the performance objectives is met at the "target" level. If the performance objectives are met at the "threshold" level, then the number of shares for which the RSUs will be settled will be 798. If the performance objectives are met at the "maximum" level, then the number of shares for which the RSUs will be settled will be 2,395. Actual vesting amounts will be pro-rated between threshold and target levels and target and maximum levels to reward incremental improvement.
Documents
Issuer
FIRST UNITED CORP/MD/
CIK 0000763907
Entity typeother
Related Parties
1- filerCIK 0001538055
Filing Metadata
- Form type
- 4
- Filed
- Mar 29, 8:00 PM ET
- Accepted
- Mar 30, 4:12 PM ET
- Size
- 9.8 KB