Short answer
FIRST UNITED CORP/MD/ (FUNC) filed an 8-K current report with the SEC on March 11, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers). CEO Jason B. Rush's change-in-control cash severance multiplier raised from 2.0x to 2.99x his "Final Pay".
FIRST UNITED CORP/MD/ 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- CEO Jason B. Rush's change-in-control cash severance multiplier raised from 2.0x to 2.99x his "Final Pay"
- Effective March 11, 2026; triggered only upon severance following a qualifying Change in Control event
- Nearly 50% increase in potential severance payout signals board intent to retain CEO amid possible M&A activity
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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