First United (FUNC) Proxy Filing summary

Executive summary

• The 2026 Annual Meeting will be held on May 7, 2026, to vote on five key proposals, including director elections, a charter amendment, executive compensation, say-on-pay frequency, and auditor ratification.

• Shareholders of record as of February 27, 2026, are eligible to vote, with multiple voting methods available, including online, phone, and mail.

• The Board recommends voting FOR all director nominees and FOR each proposal.

Voting matters and shareholder proposals

• Proposal 1: Election of 10 directors to serve until the 2027 Annual Meeting.

• Proposal 2: Charter amendment to reduce the vote required for certain shareholder actions from two-thirds to a majority.

• Proposal 3: Non-binding advisory vote to approve 2025 executive compensation (Say-on-Pay).

• Proposal 4: Advisory vote on the frequency of future Say-on-Pay votes (Board recommends every year).

• Proposal 5: Ratification of Crowe LLP as independent auditor for 2026.

Board of directors and corporate governance

• Board consists of 10 members, with a majority classified as independent under Nasdaq rules.

• Board committees include Audit, Asset and Liability Management, Strategic Planning, Compensation, Nominating, and Risk and Compliance.

• Director skills matrix highlights expertise in finance, risk, IT, legal, and strategic planning.

• Board refreshment and diversity are ongoing priorities, with recent additions and retirements.

• Shareholder engagement is emphasized, with year-round outreach and transparent governance enhancements.