0001014100-20-000023.txt : 20200330
0001014100-20-000023.hdr.sgml : 20200330
20200330162636
ACCESSION NUMBER: 0001014100-20-000023
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20200326
FILED AS OF DATE: 20200330
DATE AS OF CHANGE: 20200330
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Fisher Robert L. II
CENTRAL INDEX KEY: 0001683555
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-14237
FILM NUMBER: 20757460
MAIL ADDRESS:
STREET 1: 19 SOUTH SECOND STREET
CITY: OAKLAND
STATE: MD
ZIP: 21550
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: FIRST UNITED CORP/MD/
CENTRAL INDEX KEY: 0000763907
STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021]
IRS NUMBER: 521380770
STATE OF INCORPORATION: MD
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 19 S SECOND ST
CITY: OAKLAND
STATE: MD
ZIP: 21550
BUSINESS PHONE: 3013349471
MAIL ADDRESS:
STREET 1: 19 S SECOND ST
CITY: OAKLAND
STATE: MD
ZIP: 21550
4
1
primary_doc.xml
PRIMARY DOCUMENT
X0306
4
2020-03-26
0
0000763907
FIRST UNITED CORP/MD/
FUNC
0001683555
Fisher Robert L. II
19 SOUTH SECOND STREET
OAKLAND
MD
21550
0
1
0
0
SVP & Chief Lending Officer
Common Stock
2020-03-26
4
A
0
2113
0
A
5283
D
Common Stock
2020-03-26
4
A
0
1088
0
A
6371
D
Common Stock
2020-03-26
4
A
0
2176
0
A
8547
D
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").
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 1,056. If the performance objectives are met at the "maximum" level, then the number of shares for which the RSUs will be settled will be 3,169. Actual vesting amounts will be pro-rated between threshold and target levels and target and maximum levels to reward incremental improvement.
The RSUs will vest ratably over three years beginning on March 26, 2021 if the reporting person is employed on each applicable vesting date.
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 1,056. If the performance objectives are met at the "maximum" level, then the number of shares for which the RSUs will be settled will be 3,169. Actual vesting amounts will be pro-rated between threshold and target levels and target and maximum levels to reward incremental improvement.
/s/ Robert L. Fisher, II
2020-03-30