Equity Compensation Plan	12 Months Ended
Dec. 31, 2020
Equity Compensation Plan Information [Abstract]
Equity Compensation Plan	19. Equity Compensation Plan At the 2018 Annual Meeting of Shareholders, First United Corporation’s shareholders approved the First United Corporation 2018 Equity Compensation Plan (the “2018 Equity Plan”), which authorizes the issuance of awards relating to up to 325,000 shares of common stock to employees, directors and qualifying consultants. Awards may take the form of stock options, stock appreciation rights, stock awards, dividend equivalents, or other stock-based awards and may provide for the issuance of shares of common stock or the cash value thereof. The Corporation measures and records compensation expenses for share-based payments based on the instruments fair value on the date of grant. The fair value of stock awards is based on the Corporation’s stock price. Share-based compensation expense is recognized over the service period, generally defined as the vesting period. Stock based awards were made to non-employee directors in June 2020 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 June 2020, a total of 13,160 fully vested shares of common stock were issued to directors, which had a grant date fair market value of $14.52 per share. Director stock compensation expense was $220,598 for the year ended December 31, 2020 and $267,577 for the year ended December 31, 2019. Restricted Stock Units On March 26, 2020, the Compensation Committee of First United Corporation’s Board of Directors (the “Compensation Committee”) adopted a Long Term Incentive Plan as a sub-plan of the 2018 Equity Plan and granted restricted stock units (each, an “RSU”) thereunder to the Corporation’s principal executive officer, its principal financial officer, and certain of its other executive officers. An RSU contemplates the issuance of shares of common stock of the Corporation if and when the RSU vests. The RSUs granted to each of the foregoing officers consist of (i) a performance vesting award for a three year performance period ending December 31, 2021, (ii) a performance vesting award for a three year performance period ending December 31, 2022, and (iii) a time-vesting award that will vest ratably over a three year period beginning on March 26, 2021. Under the performance vesting RSUs, the officers will receive 50% of the target number of shares if at least one of the threshold performance levels is met, 100% of the target number of shares if at least one of the target performance levels is met, and 150% of the target number of shares if at least one of the maximum performance levels is met. Actual vesting amounts will be pro-rated between threshold and target levels and target and maximum levels to reward incremental improvement. For the performance period ending December 31, 2021, the performance goal is based on earnings per share for the year ending December 31, 2021. For the performance period ending December 31, 2022, the performance goals are based on earnings per share for the year ending December 31, 2022 and growth in tangible book value per share during the performance period. The threshold, target and maximum performance levels for these RSUs will be disclosed pursuant to Item 402 of Regulation S-K following the conclusion of the applicable performance period. To receive any shares under an RSU, a grantee must be employed by First United Corporation or one of its subsidiaries on the applicable vesting date, except that a grantee whose employment terminates prior to such vesting date due to death, disability or retirement will be entitled to a pro-rated portion of the shares subject to his or her RSUs. In the case of performance-vesting RSUs, the pro-rated portion will be based on an assumption that the “target” performance goals were satisfied. In the first quarter of 2020, RSUs relating to 25,004 shares of common stock (target level) were granted, which had a grant date fair market value of $12.54 per share of common stock underlying each RSU. Stock compensation expense was $124,970 for the year ended 2020. Compensation expense related to unvested units was $188,554.

Equity Compensation Plan

12 Months Ended

Dec. 31, 2020

Equity Compensation Plan Information [Abstract]

19. Equity Compensation Plan

At the 2018 Annual Meeting of Shareholders, First United Corporation’s shareholders approved the First United Corporation 2018 Equity Compensation Plan (the “2018 Equity Plan”), which authorizes the issuance of awards relating to up to 325,000 shares of common stock to employees, directors and qualifying consultants. Awards may take the form of stock options, stock appreciation rights, stock awards, dividend equivalents, or other stock-based awards and may provide for the issuance of shares of common stock or the cash value thereof.

The Corporation measures and records compensation expenses for share-based payments based on the instruments fair value on the date of grant. The fair value of stock awards is based on the Corporation’s stock price. Share-based compensation expense is recognized over the service period, generally defined as the vesting period.

Stock based awards were made to non-employee directors in June 2020 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 June 2020, a total of 13,160 fully vested shares of common stock were issued to directors, which had a grant date fair market value of $14.52 per share. Director stock compensation expense was $220,598 for the year ended December 31, 2020 and $267,577 for the year ended December 31, 2019.

Restricted Stock Units

On March 26, 2020, the Compensation Committee of First United Corporation’s Board of Directors (the “Compensation Committee”) adopted a Long Term Incentive Plan as a sub-plan of the 2018 Equity Plan and granted restricted stock units (each, an “RSU”) thereunder to the Corporation’s principal executive officer, its principal financial officer, and certain of its other executive officers. An RSU contemplates the issuance of shares of common stock of the Corporation if and when the RSU vests.

The RSUs granted to each of the foregoing officers consist of (i) a performance vesting award for a three year performance period ending December 31, 2021, (ii) a performance vesting award for a three year performance period ending December 31, 2022, and (iii) a time-vesting award that will vest ratably over a three year period beginning on March 26, 2021. Under the performance vesting RSUs, the officers will receive 50% of the target number of shares if at least one of the threshold performance levels is met, 100% of the target number of shares if at least one of the target performance levels is met, and 150% of the target number of shares if at least one of the maximum performance levels is met. Actual vesting amounts will be pro-rated between threshold and target levels and target and maximum levels to reward incremental improvement. For the performance period ending December 31, 2021, the performance goal is based on earnings per share for the year ending December 31, 2021. For the performance period ending December 31, 2022, the performance goals are based on earnings per share for the year ending December 31, 2022 and growth in tangible book value per share during the performance period. The threshold, target and maximum performance levels for these RSUs will be disclosed pursuant to Item 402 of Regulation S-K following the conclusion of the applicable performance period.

To receive any shares under an RSU, a grantee must be employed by First United Corporation or one of its subsidiaries on the applicable vesting date, except that a grantee whose employment terminates prior to such vesting date due to death, disability or retirement will be entitled to a pro-rated portion of the shares subject to his or her RSUs. In the case of performance-vesting RSUs, the pro-rated portion will be based on an assumption that the “target” performance goals were satisfied.

In the first quarter of 2020, RSUs relating to 25,004 shares of common stock (target level) were granted, which had a grant date fair market value of $12.54 per share of common stock underlying each RSU. Stock compensation expense was $124,970 for the year ended 2020. Compensation expense related to unvested units was $188,554.