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Equity Compensation Plan Information | 9 Months Ended
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Sep. 30, 2019
Equity Compensation Plan Information [Abstract] |
Equity Compensation Plan Information | Note 12 - Equity Compensation Plan Information ﻿ At the 2018 Annual Meeting of Shareholders, First United Corporation’s shareholders approved the First United Corporation 2018 Equity Compensation Plan which authorizes the issuance of up to 325,000 shares of common stock to employees, directors and qualifying consultants pursuant to stock options, stock appreciation rights, stock awards, dividend equivalents, and other stock-based awards. ﻿ The Corporation complies with the provisions of ASC Topic 718, Compensation-Stock Compensation, in measuring and disclosing stock compensation cost. The measurement objective in ASC Paragraph 718-10-30-6 requires public companies to measure the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. The cost is recognized in expense over the period in which an employee is required to provide service in exchange for the award (the vesting period). ﻿ Stock-based awards were made to non-employee directors in May 2019 pursuant to First United Corporation’s director compensation policy. Each director receives an annual retainer of 1,000 shares of First United Corporation common stock, plus $10,000 to be paid, at the director’s election, in cash or additional shares of common stock. In 2019, a total of 14,641 fully-vested shares of common stock were issued to directors, which had a grant date fair market value of $18.30 per share. Director stock compensation expense was $200,594 for the nine months ended September 30, 2019 and $182,606 for the nine months ended September 30, 2018. Director stock compensation expense was $66,893 for the third quarter of 2019 and $66,717 for the same period of 2018.

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