Sturm Tonya K. 4
4 · FIRST UNITED CORP/MD/ · Filed Mar 18, 2026
Research Summary
AI-generated summary of this filing
First United (FUNC) EVP/CFO Tonya Sturm Receives RSU Vest, Surrenders 144 Shares
What Happened
Tonya K. Sturm, Executive Vice President and Chief Financial Officer of First United Corp. (FUNC), had 428 restricted stock units (RSUs) vest on March 16, 2026 (reported as an award/acquisition, Code A). On the same date she surrendered 144 of those shares to the company to satisfy tax-withholding obligations at an implied share value of $35.99, resulting in $5,183 withheld (reported as Code F). This was a vesting/tax-withholding event rather than an open-market purchase or sale.
Key Details
- Transaction date: 2026-03-16; filing date: 2026-03-18 (filed two days after the transaction).
- Award (A): 428 shares issued @ $0.00 (vested RSUs).
- Tax withholding (F): 144 shares surrendered @ $35.99 = $5,183.
- Shares owned after transaction: Not specified in the provided filing.
- Footnotes: F1 — RSUs were originally granted on March 15, 2023. F2 — surrendered shares were used to satisfy tax withholding per the award agreement and approved by the Compensation Committee.
- Filing timeliness: Appears timely (no late filing indicated).
Context
RSU vesting and surrendering shares for tax withholding are routine compensation events for executives and do not necessarily signal buying or selling for investment reasons. The RSUs vested (award) increased her holdings, while the surrendered shares were retained by the issuer to cover taxes rather than being sold on the open market.
Insider Transaction Report
- Award
Common Stock
[F1]2026-03-16+428→ 11,984.999 total - Tax Payment
Common Stock
[F2]2026-03-16$35.99/sh−144$5,183→ 11,840.999 total
- 5.5(indirect: By 401(k))
Common Stock
Footnotes (2)
- [F1]The shares were issued pursuant to time-vesting restricted stock units ("RSUs") that were granted on March 15, 2023.
- [F2]The shares were surrendered to the issuer in satisfaction of the tax withholding obligations associated with the vesting of the RSUs as permitted by the related award agreement and approved by the issuer's Compensation Committee.