Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
- Peter Lynch
What is insider trading>>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 8)*
First United Corporation
(Name of Issuer)
Common Stock
(Title of Class of Securities)
33741H107
(CUSIP Number)
December 31, 2020
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
| x | Rule 13d-1(b) |
| ¨ | Rule 13d-1(c) |
| ¨ | Rule 13d-1(d) |
* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
| CUSIP No. 33741H107 | Page 2 of 5 Pages |
| 1 |
Names of reporting persons.
First United Bank & Trust |
| 2 | Check the appropriate box if a member of a group |
| (a) ¨ | |
| (b) ¨ | |
| 3 | SEC use only |
| 4 | Citizenship or place of organization: Maryland, U.S.A. |
|
Number of shares beneficially owned by each reporting person with: |
5 | Sole voting power: 194,1241 |
| 6 | Shared voting power: 194,2232 | |
| 7 | Sole dispositive power: 369,197 | |
| 8 | Shared dispositive power: 0 |
| 9 | Aggregate amount beneficially owned by each reporting person: 388,347 |
| 10 | Check if the aggregate amount in row (9) excludes certain shares: ¨ |
| 11 | Percent of class represented by amount in row (9): 5.6% |
| 12 | Type of reporting person: BK |
Notes:
| (1) | The shares are held in the First United Corporation noncontributory defined benefit pension plan (the “Pension Plan”) of which First United Bank & Trust (the “Bank”) serves as the administrator. In such capacity, the Bank has sole voting power and sole dispositive power. |
| (2) | The shares are held in trust accounts maintained at the Bank by its customers for which the Bank serves as trustee. In such capacity, the Bank has shared voting power and, except with respect to 19,150 shares, sole dispositive power. |
| Page 3 of 5 Pages |
Item 1.
| Item 1(a) | Name of issuer: |
First United Corporation
| Item 1(b) | Address of issuer’s principal executive offices: |
19 South Second Street
Oakland, Maryland 21150
Item 2.
| Item 2(a) | Name of person filing: |
First United Bank & Trust
| Item 2(b) | Address of principal business office or, if none, residence: |
19 South Second Street
Oakland, Maryland 21150
| Item 2(c) | Citizenship: |
United States of America
| Item 2(d) | Title of class of Securities: |
Common Stock, par value $.01 per share
| Item 2(e). | CUSIP No.: |
33741H107
| Item 3. | If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a: |
b. x Bank as defined in Section 3(a)(6) of the Act.
| Page 4 of 5 Pages |
| Item 4. | Ownership. |
Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
| (a) | Amount beneficially owned: 388,347 |
| (b) | Percent of class: 5.6% |
| (c) | Number of shares as to which such person has: |
| (i) | Sole power to vote or to direct the vote: 194,124 |
| (ii) | Shared power to vote or to direct the vote: 194,223 |
| (iii) | Sole power to dispose or to direct the disposition of: 369,197 |
| (iv) | Shared power to dispose or to direct the disposition of: 0 |
| Item 5. | Ownership of 5 Percent or Less of a Class. |
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following ¨.
| Item 6. | Ownership of More than Five Percent on Behalf of Another Person |
The shares are held in (a) trust accounts maintained at the Bank for which the Bank serves as trustee and (b) the Pension Plan of which the Bank serves as the administrator. Any dividends paid on the shares and/or proceeds from any sale of the shares will be held by the Bank in such capacities for the benefit of the beneficiaries of such trust accounts and the participants in the Pension Plan, as applicable.
| Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company. |
Not Applicable
| Item 8. | Identification and Classification of Members of Group. |
Not Applicable
| Page 5 of 5 Pages |
| Item 9. | Notice of Dissolution of Group. |
Not Applicable
| Item 10. | Certification. |
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and accurate.
| January 19, 2021 | ||
| (Date) | ||
| /s/ Keith R. Sanders | ||
| (Signature) | ||
| Keith R. Sanders, Senior Trust Officer | ||
| (Name and Title) |