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Glass Lewis, A Leading Independent Proxy Advisory Firm, Recommends Shareholders Vote For All Of First United's Nominees
Glass Lewis Joins ISS In Recommending Shareholders Vote on First United's BLUE Proxy Card Vote on the BLUE Proxy Card Today for First United's Highly
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[{"type":"text","content":"Glass Lewis Joins ISS In Recommending Shareholders Vote on First United's BLUE Proxy Card\n Vote on the BLUE Proxy Card Today for First United's Highly Qualified Candidates: John W. McCullough; John F. Barr; Brian R. Boal; and Marisa A. Shockley\n First United Reminds Shareholders to Revoke Votes on Driver's WHITE Card by Voting on First United's BLUE Card\n\n\nOAKLAND, Md., June 5, 2020 /PRNewswire/ -- First United Corporation (NASDAQ: FUNC) (\"First United\" or the \"Company\"), a bank holding company and the parent company of First United Bank & Trust (the \"Bank\"), today announced that leading proxy advisory firm, Glass, Lewis & Co. (\"Glass Lewis\"), recommends shareholders vote on the Company's BLUE proxy card for all of its nominees: John W. McCullough; John F. Barr; Brian R. Boal; and Marisa A. Shockley.\nThe Glass Lewis report references an important metric: TSR (Total Shareholder Return), which measures a stock's performance, including stock price appreciation and dividends paid over a given time period, often referenced in one-, three- and five-year holding periods.\nImportant statements by Glass Lewis1 in its voting recommendation include:\nFirst United's Performance Outpaces its Peers Across Relevant Timeframes\n\"Overall, we find that the incumbent board has presented a fairly thorough analysis of TSR performance that clearly shows the Company has generated reasonable, if not favorable, relative TSR performance over the observed periods.\"First United's Operating Strategy Provides the Best Path Forward to Maximize Shareholder Value\n\"Given the Company's positive track record of TSR performance, we are inclined to grant management and the incumbent board additional deference to pursue the strategy and operating principals they deem appropriate.\"First United's Directors Are Best Positioned to Lead the Company\n\"With respect to the composition of the board, we do not believe the Dissident has made a convincing argument that there is a significant lack of experience or qualifications on the board or that the Dissident Nominees would provide necessary experience that is currently lacking. Moreover, we do not find cause for substantial concern with any of the Management Nominees that would lead us to withhold support from any of those candidates at this time.\"First United is Committed to Pressing Ahead with its Boar...