Form 4: Unity Bancorp CEO James A. Hughes Reports Stock Transactions
SEC Form 4 Filing
James A. Hughes, President/CEO of Unity Bancorp, reports the withholding of shares to cover tax liabilities and details of stock ownership.
Summary
- On March 15 and 16, 2025, Unity Bancorp President/CEO James A. Hughes had shares withheld to cover tax liabilities related to restricted stock vesting.
- A total of 1,819 shares were withheld on each day at a price of $42.445 per share.
- Following these transactions, Hughes directly owns 50,824 and 46,324 restricted shares, respectively.
- He also directly owns 162,733 common shares held across various accounts.
- Hughes also holds options to buy 99,000 common shares, which are currently exercisable.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their stock transactions. It allows investors to monitor the actions of key executives and their confidence in the company.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives.
- The information disclosed is consistent with SEC regulations and reporting requirements.
- Comparable companies like Peapack-Gladstone Financial Corporation (PGC) and OceanFirst Financial Corp. (OCFC) also have similar insider transaction filings.
Stakeholder Impact
- Shareholders can use this information to understand the CEO's stock activity.
- The transactions themselves have a minimal direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 03/15/2025 | 1,819 shares of restricted stock withheld to cover tax liability at $42.445 per share. |
| 03/16/2025 | 1,819 shares of restricted stock withheld to cover tax liability at $42.445 per share. |
| 03/18/2025 | Date of report submission. |
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