FIRST UNITED CORP/MD/ — Director's Dealing 2014

Nov 19, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FIRST UNITED CORP/MD/ (FUNC)
CIK: 0000763907
Period of Report: 2014-11-17

Reporting Person: GRANT WILLIAM B (Director, Chairman and CEO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-11-17	Phantom Stock	$	I	1000	Acquired		Common Stock (1000)	Direct

Footnotes

F1: Each share of phantom stock represents the right to receive one share of First United Corporation common stock or the cash value thereof.

F2: Shares of phantom stock are payable in cash or in shares of common stock of First United Corporation following the reporting person's separation from service with First United Corporation. The phantom stock account is maintained under a deferred compensation plan, and the reporting person may transfer that account into an alternative account at any time.