FIRST UNITED CORP/MD/ — Director's Dealing 2021

May 7, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FIRST UNITED CORP/MD/ (FUNC)
CIK: 0000763907
Period of Report: 2021-05-05

Reporting Person: Rush Jason Barry (SVP & COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-05	Common Stock	A	1393	—	Acquired	16985.0207	Direct
2021-05-05	Common Stock	A	696	—	Acquired	17681.0207	Direct

Footnotes

F1: 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").

F2: The RSUs will vest on March 15, 2024 if certain performance goals are satisfied for the three-year period ending December 31, 2023 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 696. If the performance objectives are met at the "maximum" level, then the number of shares for which the RSUs will be settled will be 2,090. Actual vesting amounts will be pro-rated between threshold and target levels and target and maximum levels to reward incremental improvement.

F3: The RSUs will vest ratably over three years beginning on May 5, 2022 if the reporting person is employed on each applicable vesting date.