Sanders Keith 4

What Happened

• Keith Sanders, EVP & Chief Wealth Officer of First United Corp (FUNC), disposed of 120 shares as a tax-withholding payment. The shares were reported at $36.88 each for a total of $4,426. The Form 4 lists the transaction date as 2021-05-20 and was filed on 2026-05-21.

Key Details

• Transaction type: F (payment of tax liability / shares surrendered)
• Transaction date reported: 2021-05-20; Filing date: 2026-05-21 (appears to be a late report)
• Price and value: 120 shares @ $36.88 = $4,426
• Shares owned after the transaction: Not disclosed in the provided filing
• Footnote (F1): Shares were surrendered to the issuer to satisfy tax withholding on time-vesting restricted stock units granted May 20, 2024, as permitted by the award agreement and approved by the Compensation Committee

Context

• This was not an open-market sale but a routine share surrender to cover tax withholding on vested RSUs (common administrative practice). Such withholding transactions generally do not signal insider buying or selling intent.
• The late filing (reporting a 2021 transaction in 2026) is notable for compliance/timeliness reasons but does not change the administrative nature of the transaction.