First United Corporation filed SEC Form 8-K: Other Events, Financial Statements and Exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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CURRENT REPORT
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Item 8.01. Other Events.
The Board of Directors of First United Corporation (the “Corporation”) adopted a stock purchase program (the “Repurchase Program”) that became effective on August 30, 2024. The Repurchase Program authorizes the Corporation to purchase up to an aggregate of 600,000 shares of its common stock, par value $.01 per share (the “Common Stock”), representing 9.3% of the issued and outstanding shares of Common Stock as of such date, over a 18-month period. The shares may be purchased in open market transactions or privately-negotiated transactions at such times, in such amounts, at such prices and upon such other terms as are determined in the discretion of the Corporation’s Chairman, President and Chief Executive Officer, provided that each proposed purchase must be consistent with applicable securities laws and regulations, including Rule 10b-18 promulgated under the Securities Exchange Act of 1934, as amended, and the Corporation’s blackout policy. Information about purchases effected under the Repurchase Program, if any, will be disclosed in the appropriate items of the periodic reports that the Corporation files with the Securities and Exchange Commission.
It should be noted that the Corporation might not purchase any shares of Common Stock under the Repurchase Program. Whether any purchases are made (and the number of shares purchased) will depend on a variety of factors, including the opportunities (if any) to purchase shares that might exist from time to time, the prices and volumes at which such shares might be available and the Corporation’s capital requirements and plans.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
The exhibits filed or furnished with this report are listed in the following Exhibit Index:
| Exhibit No. | Description | |
| 104 | Cover page interactive data file (embedded within the iXBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FIRST UNITED CORPORATION | ||
| Dated: September 3, 2024 | By: | /s/ Tonya K. Sturm |
| Tonya K. Sturm | ||
| Senior Vice President & CFO | ||
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