First United Corp Elects Three New Directors to Board

What Happened First United Corporation (FUNC) announced that, effective September 24, 2026, its Board elected Steven R. Stuck, Shawn Bender, and Nina Beitzel as directors, each to serve until the 2027 annual meeting and until their successors qualify. The three also will serve on the board of First United Bank & Trust, the Company’s wholly-owned bank subsidiary. The Board expects to assign each director to specific committees (Audit, Risk & Compliance, ALCO; Trust, Loan; etc.) as noted in the filing.

Key Details

• Effective date: September 24, 2026; term through the 2027 annual meeting.
• New directors: Steven R. Stuck, Shawn Bender, Nina Beitzel.
• Compensation for remainder of term: $8,750 cash retainer plus 583 fully vested shares of common stock each; option to take some or all retainer in stock (conversion based on mean of high and low price on prior trading day).
• Meeting and committee fees: $1,000 cash for each Company Board/Bank Board meeting attended (reduced to $200 for short or regulatory special meetings); $500 per committee meeting for each Board; no double pay when both Boards meet together.
• Other: Eligible to participate in the Company’s deferred compensation plan (subject to plan rules). No related-party transactions with these directors or their interests since the fiscal year beginning Jan 1, 2024 (fiscal year ended Dec 31, 2024) and none proposed for 2026.

Why It Matters Board composition and director expertise can affect strategy, risk oversight, and governance. First United added three local business leaders with experience in operations, M&A, real estate, and industrial services, and formalized their committee roles and pay for the short term through the 2027 meeting. Investors should note the concrete compensation terms (cash and stock) disclosed and that these additions are disclosed in the company’s filings (see proxy filed March 25, 2026 for broader director compensation).