10 unchanged sentences
Based on that evaluation, the Corporation’s management, including the PEO and the PFO, has concluded that the Corporation’s disclosure controls and procedures are, in fact, effective at the reasonable assurance level.
+Added: During the fourth quarter of 2025, there was no change in the Corporation’s internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Corporation’s internal control over financial reporting.
As required by Section 404 of the Sarbanes-Oxley Act of 2002, management has performed an evaluation and testing of the Corporation’s internal control over financial reporting as of December 31, 2025.
11 unchanged sentences
March 10, 2026
−Removed: /s/ Carissa L.
−Removed: Rodeheaver, CPA
−Removed: Chairman of the Board, President
−Removed: Senior Vice President and
−Removed: And Chief Executive Officer
+Added: President and
+Added: Executive Vice President and
+Added: Chief Executive Officer
Chief Financial Officer
8 unchanged sentences
A copy of the Code of Ethics is available free of charge upon request to Jason B.
−Removed: Rush, Senior Vice President and Chief Operating Officer, First United Bank & Trust, 19 S.
+Added: Rush, President and Chief Executive Officer, First United Bank & Trust, 19 S.
Second Street, Oakland, MD 21550.
−Removed: This Code of Ethics is also available on the Investor Relations page of the Corporation’s website at https://s25.q4cdn.com/317318878/files/doc_downloads/2022/01/Senior-Financial-Officer-Code-of-Business-Conduct-and-Ethics.pdf.
+Added: This Code of Ethics is also available on the Investor Relations page of the Corporation’s website at https://s205.q4cdn.com/164474296/files/doc_downloads/govdoc/code-of-business-conduct-and-ethics.pdf.
All other information required by this item is incorporated herein by reference to the following sections of the Corporation’s definitive Proxy Statement for the 2026 Annual Meeting of Shareholders to be filed with the SEC pursuant to Regulation 14A (the “2026 Proxy Statement”):
18 unchanged sentences
Equity compensation plans not approved by security holders
−Removed: (1) As of December 31, 2024, only time-vesting and performance-vesting restricted stock units (“RSUs”) had been granted under the Equity Plan.
+Added: (1) As of December 31, 2025, there were time-vesting and performance-vesting restricted stock units (“RSUs”) that had been granted under the Equity Plan.
An RSU is a right to receive one share of Common Stock (or the cash value thereof) if certain vesting conditions are satisfied.
2 unchanged sentences
That amount would be 7,298 or 14,599, respectively, if only the RSUs’ threshold performance levels or target performance levels were to be achieved.
+Added: (2) The amount shown in this column (c) relates to remaining balance available.
+Added: The amount assumes that the performance-vesting RSUs will vest based on the achievement of the maximum performance levels applicable thereto.
+Added: That amount would be 128,461 or 135,762, respectively, if only the RSUs’ threshold performance levels or target performance levels were to be achieved.
All other information required by this item is incorporated herein by reference to the section of the 2026 Proxy Statement entitled “Beneficial Ownership of Common Stock by Principal Shareholders and Management ”.
7 unchanged sentences
(a)(1), (2) and (c) Financial Statements.
−Removed: Reports of Independent Registered Public Accounting Firms
+Added: Report of Independent Registered Public Accounting Firms
Consolidated Statements of Financial Condition as of December 31, 2025 and 2024
10 unchanged sentences
Bylaws, as restated on September 25, 2024 (incorporated by reference to Exhibit 3.2 to First United Corporation’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2024)
+Added: First Amendment to Bylaws, as restated on September 25, 2024 (incorporated by reference to Exhibit 3.1 to First United Corporation’s Current Report on Form 8-K filed on November 14, 2025)
+Added: Description of Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934 (filed herewith)
Certificate of Notice, including the Certificate of Designations incorporated therein, relating to the Fixed Rate Cumulative Perpetual Preferred Stock, Series A (incorporated by reference Exhibit 4.1 to First United Corporation’s Form 8-K filed on February 2, 2009)
2 unchanged sentences
Form of Amended and Restated Participation Agreement under the Defined Benefit Supplemental Executive Retirement Plan (incorporated by reference to Exhibit 10.2 to First United Corporation’s Current Report on Form 8-K filed on February 1, 2019)
+Added: Form of First Amendment to the Participation Agreement under the First United Bank & Trust Defined Benefit Supplemental Executive Retirement Plan (incorporated by reference to Exhibit 10.1 to First United Corporation’s Current Report on Form 8-K filed on March 28, 2025)
Form of Endorsement Split Dollar Agreement between First United Bank & Trust and certain executive officers (incorporated by reference to Exhibit 10.3 to First United Corporation’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2003)
8 unchanged sentences
First United Corporation Short-Term Incentive Plan (incorporated by reference to Exhibit 10.2 to First United Corporation’s Current Report on Form 8-K filed on March 16, 2020)
−Removed: Appendix A to the First United Corporation Short-Term Incentive Plan (incorporated by reference to Exhibit 10.1 to First United Corporation’s Current Report on Form 8-K filed on March 15, 2022)*
+Added: Revised Appendix A to the First United Corporation Short-Term Incentive Plan (incorporated by reference to Exhibit 10.1 to First United Corporation’s Current Report on Form 8-K filed on March 3, 2025)*
Form of Restricted Stock Unit Award Agreement (Performance-Vesting) (incorporated by reference to Exhibit 10.1 to First United Corporation’s Current Report on Form 8-K filed on March 27, 2020, Film No.
22 unchanged sentences
March 10, 2026
−Removed: /s/ Carissa L.
−Removed: Rodeheaver, CPA
−Removed: Chairman of the Board, President
−Removed: and Chief Executive Officer
+Added: President and
+Added: Chief Executive Officer
(Principal Executive Officer)
March 10, 2026
−Removed: Senior Vice President and
+Added: Executive Vice President and
Chief Financial Officer,
18 unchanged sentences
Moran – Director
−Removed: Rodeheaver – Director, President
+Added: Rodeheaver – Executive Chairman of the
March 10, 2026
−Removed: and Chief Executive Officer
March 10, 2026
4 unchanged sentences
March 10, 2026
−Removed: Sturm – Senior Vice President and
−Removed: Chief Financial Officer
−Removed: (Principal Financial Officer and Principal
−Removed: Accounting Officer)
+Added: Rush – President and Chief Executive Officer
+Added: Sturm – Executive Vice President and
+Added: (Principal Executive Officer)
+Added: Chief Financial Officer (Principal Financial Officer
March 10, 2026
+Added: and Principal Accounting Officer)
+Added: March 10, 2026
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.