Form 4: Unity Bancorp Director Granted 1,200 Restricted Shares

Unity Bancorp Director Wayne Courtright was granted 1,200 restricted shares under the company's 2023 Equity Compensation Plan.

Summary

• Director Wayne Courtright of Unity Bancorp Inc. was granted 1,200 restricted shares on January 27, 2026.
• The grant was made under the company's 2023 Equity Compensation Plan.
• These restricted shares will vest over four years, with 300 shares vesting annually on January 27, starting from 2027 until 2030.
• Following this transaction, Mr. Courtright's total beneficial ownership in Unity Bancorp is reported as 139,671 shares.
• This total beneficial ownership includes 4,000 existing restricted shares, 118,871 shares of common stock, and 16,800 exercisable stock options.

Sentiment

Score: 6

Explanation: The grant of restricted stock to a director is a standard compensation practice aimed at aligning management's interests with long-term shareholder value. It is a neutral to slightly positive event, indicating ongoing executive incentive programs, but not a significant market moving event.

Positives

• The grant of 1,200 restricted shares to a director aligns management's long-term interests with shareholder value.
• The transaction indicates the ongoing utilization of the company's 2023 Equity Compensation Plan to incentivize key personnel.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding the company's future financial performance or strategic outlook.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction and does not provide information related to broader industry trends or competitive landscape.

Related Party Transactions

• The grant of 1,200 restricted shares to Director Wayne Courtright constitutes a transaction between the company and a related party.

Stakeholder Impact

• Shareholders: Potential minor dilution over time as shares vest, balanced by improved alignment of the director's interests with long-term company performance.
• Director (Wayne Courtright): Receives additional equity compensation, increasing their stake and long-term incentive in the company.

Next Steps

• Vesting of 300 restricted shares on January 27, 2027.
• Vesting of 300 restricted shares on January 27, 2028.
• Vesting of 300 restricted shares on January 27, 2029.
• Vesting of 300 restricted shares on January 27, 2030.

Key Dates

Keywords

Unity Bancorp, UNTY, Form 4, Restricted Stock Grant, Equity Compensation, Director Compensation, Beneficial Ownership, Insider Transaction, Stock Options