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

James A. Hughes, President and CEO of Unity Bancorp, reports the withholding of 1,011 shares to cover tax liability on restricted stock vesting and discloses beneficial ownership of common stock and stock options.

Summary

• On March 25, 2024, James A. Hughes, the President and CEO of Unity Bancorp, reported transactions involving the company's stock.
• 1,011 shares of restricted stock were withheld at $28.68 per share to cover tax liabilities related to the vesting of 2,500 restricted stock units.
• Following the reported transactions, Hughes beneficially owns 52,324 restricted shares, including 824 dividend reinvested shares, held at Computershare.
• Hughes also directly owns 144,798 shares of common stock, held across accounts at Shareworks (117,004 shares), Computershare (6,085 shares), in street name (12,327 shares), and in a 401K plan (9,382 shares).
• Additionally, Hughes holds 111,000 stock options, all of which are currently exercisable, granted under various dates and vesting periods.
• The total beneficial ownership reported by Hughes is 308,122 shares.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about insider trading activity.

Industry Context

This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their trading activities. It allows investors to monitor the actions of key executives and directors, which can provide insights into their perspective on the company's performance and future prospects.

Stakeholder Impact

• Shareholders can use this information to understand the actions of company insiders.
• The disclosure provides transparency regarding executive compensation and stock ownership.

Key Dates