An announcement from First United (FUNC) is now available.
First United Corporation has announced that its Compensation Committee approved cash incentive compensation for executive officers, including named executive officers, based on return on average equity (ROAE) targets compared to a peer group. The awards are divided into two parts: the 2024 ROAE Awards, payable by March 2025, and the 2025 ROAE Awards, payable by March 2026, with performance measured against a group of similarly sized banks. The incentives offer a range of payouts from threshold to maximum bonuses, tied to percentile rankings within the peer group, and require the officer to be employed and in good standing at the time of payment.
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