Form 4: Unity Bancorp CEO James A. Hughes Reports Stock Transactions

James A. Hughes, President/CEO of Unity Bancorp, reports the withholding of 1,819 shares for tax liability and discloses holdings of restricted stock, common stock, and stock options.

Summary

• James A. Hughes, the President/CEO of Unity Bancorp, filed a Form 4 detailing changes in beneficial ownership.
• On May 5, 2024, 1,819 restricted shares were withheld at $27.70 per share to cover tax liabilities related to the vesting of 4,500 restricted stock units.
• Following the transaction, Hughes directly owns 47,824 restricted shares, including 824 dividend reinvested shares, held at Computershare.
• Hughes also directly owns 147,479 common shares, consisting of 119,685 shares held at Shareworks, 6,085 shares at Computershare, 12,327 shares held in street name, and 9,382 shares held in a 401K plan.
• Additionally, Hughes holds 111,000 stock options, all of which are currently exercisable.
• The total beneficial ownership reported is 306,303 shares.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document is a standard SEC filing reporting insider transactions, which doesn't inherently indicate positive or negative sentiment.

Industry Context

This filing is a routine disclosure required by the SEC for corporate insiders and provides transparency regarding their holdings and transactions in the company's stock.

Stakeholder Impact

• The disclosure provides transparency to shareholders regarding the CEO's stock ownership and transactions.

Key Dates