First United Corp. Announces Board and Officer Changes
Ticker: FUNC · Form: 8-K · Filed: Jun 7, 2024 · CIK: 763907
Sentiment: neutral
Topics: governance, management-change
TL;DR
Board shakeup at First United Corp. - new directors and officers appointed.
AI Summary
First United Corporation announced on June 7, 2024, changes in its board of directors and executive officers. The filing details the election of new directors and the appointment of certain officers, along with information on compensatory arrangements for these individuals. Specific details regarding the individuals involved and the exact nature of the compensatory arrangements are provided within the full filing.
Why It Matters
Changes in a company's board and executive team can signal shifts in strategy, governance, or operational focus, potentially impacting future performance and shareholder value.
Risk Assessment
Risk Level: low — This filing primarily concerns routine corporate governance changes and does not appear to involve significant financial distress or major strategic shifts that would inherently increase risk.
Key Players & Entities
- First United Corporation (company) — Registrant
- Maryland (location) — State of incorporation
FAQ
What specific changes were made to the board of directors?
The filing indicates the election of directors and appointment of certain officers, with details to be found within the document's sections on director and officer changes.
When did these changes become effective?
The earliest event reported is dated June 7, 2024.
Are there any details on new compensatory arrangements?
Yes, the filing mentions compensatory arrangements of certain officers, with specifics available in the full report.
What is the principal business address of First United Corporation?
The principal executive offices are located at 19 South Second Street, Oakland, Maryland 21550.
What is the SIC code for First United Corporation?
The Standard Industrial Classification code is 6021, for National Commercial Banks.
Filing Stats: 1,030 words · 4 min read · ~3 pages · Grade level 14.7 · Accepted 2024-06-07 16:30:51
Key Financial Figures
- $750 million — aded banks with total assets of between $750 million and $4 billion at December 31, 2023 (th
- $4 billion — otal assets of between $750 million and $4 billion at December 31, 2023 (the "Peer Group")
Filing Documents
- tm2416659d1_8k.htm (8-K) — 42KB
- tm2416659d1_ex10-1.htm (EX-10.1) — 20KB
- 0001104659-24-069679.txt ( ) — 235KB
- func-20240607.xsd (EX-101.SCH) — 3KB
- func-20240607_lab.xml (EX-101.LAB) — 33KB
- func-20240607_pre.xml (EX-101.PRE) — 22KB
- tm2416659d1_8k_htm.xml (XML) — 3KB
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. The exhibits filed or furnished with this report are listed in the following Exhibit Index: Exhibit No. Description 10.1 ROAE Nonequity Incentive Compensation Award Opportunities (filed herewith) 104 Cover page interactive data file (embedded within the iXBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FIRST UNITED CORPORATION Dated: June 7, 2024 By: /s/ Tonya K. Sturm Tonya K. Sturm Senior Vice President & CFO 3