Form 4: Unity Bancorp CEO James A. Hughes Executes Stock Options and Sells Shares
SEC Form 4
James A. Hughes, President and CEO of Unity Bancorp, exercised stock options and sold a portion of the acquired shares on March 5th and 6th, 2024.
Summary
- On March 5th and 6th, 2024, James A. Hughes, the President and CEO of Unity Bancorp, executed stock options to purchase common stock at a price of $7.25 per share.
- He exercised options for 2,013 shares on March 5th and 2,000 shares on March 6th.
- On March 5th, Hughes sold 1,156 shares of common stock at a price of $27.2799 per share.
- Following these transactions, Hughes directly owns 139,735 shares of common stock, consisting of shares held in various accounts.
- He also directly owns 42,824 shares of restricted stock and 111,000 stock options, of which 102,667 are currently exercisable.
- His total beneficial ownership is 285,226 shares.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a standard Form 4 filing detailing insider transactions. The transactions themselves don't necessarily indicate a positive or negative outlook for the company.
Industry Context
This filing is a routine disclosure of insider transactions. It's common for executives to exercise stock options and sell a portion of the shares for personal financial management.
Key Dates
| Date | Description |
|---|---|
| 03/05/2024 | Date of stock option exercise and share sale. |
| 03/06/2024 | Date of stock option exercise. |
| 03/07/2024 | Date of report. |
| 03/27/2024 | Expiration date of stock options. |
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