Form 4: Unity Bancorp Chief Credit Officer Reports Stock Transactions

Minsu Kim, Chief Credit Officer of Unity Bancorp, reported the withholding of 158 shares for tax obligations and the holding of 3,832 shares of company stock.

Summary

• Minsu Kim, the Chief Credit Officer and SVP of Unity Bancorp, filed a Form 4 detailing changes in beneficial ownership of company stock.
• On December 9, 2024, 158 shares of restricted stock were withheld at a price of $45.62 per share to cover tax liabilities related to the vesting of 437 restricted stock shares.
• Following the transaction, Mr. Kim beneficially owns 3,553 shares held in a Computershare account, which includes 53 dividend reinvested shares, and 279 shares held in a Shareworks account.
• The total beneficial ownership of Mr. Kim is 3,832 shares.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of stock transactions by a company officer, which is neither positive nor negative in itself.

Industry Context

This is a standard SEC Form 4 filing, which is common for corporate officers reporting changes in their beneficial ownership of company stock. It is a routine disclosure and does not indicate any unusual activity.

Comparison to Industry Standards

• Form 4 filings are a standard practice for publicly traded companies in the United States, and this filing is consistent with those requirements.
• The transaction is typical for executives who receive stock-based compensation, where shares are often withheld to cover tax obligations upon vesting.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine disclosure of stock transactions by a company officer.

Key Dates

Keywords

Form 4, Beneficial Ownership, Stock Transaction, Restricted Stock, Unity Bancorp, Minsu Kim, Chief Credit Officer, UNTY