Form 4: Unity Bancorp Executive David G. Bove Reports Share Transactions

David G. Bove, Chief Technology Officer/SVP of Unity Bancorp, reported the withholding of 138 shares for tax purposes and the holding of 4,300 restricted shares and 5,942 common shares.

Summary

• David G. Bove, Chief Technology Officer/SVP of Unity Bancorp, filed a Form 4 detailing changes in his beneficial ownership of company stock.
• On December 9, 2024, 138 shares were withheld at a price of $45.62 per share to cover tax liabilities related to the vesting of 500 restricted shares.
• Mr. Bove also holds 4,300 restricted shares in an account at Computershare, which are subject to future vesting dates.
• Additionally, he owns 5,942 common shares held in an account at Shareworks.
• Mr. Bove also has 20,500 stock options that are currently exercisable, granted under various dates and vesting periods.
• His total beneficial ownership of Unity Bancorp stock is 30,742 shares.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of insider transactions and does not indicate any positive or negative sentiment. It is a neutral reporting of facts.

Industry Context

This is a standard SEC Form 4 filing, which is common for corporate insiders 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, ensuring transparency of insider transactions.
• The reported transactions are typical for executives who receive stock-based compensation, such as restricted shares and stock options.
• The withholding of shares to cover tax liabilities is a common practice when restricted shares vest.

Stakeholder Impact

• The filing provides transparency to shareholders regarding executive stock ownership.
• The transactions do not have a direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

Form 4, Beneficial Ownership, Stock Options, Restricted Shares, Unity Bancorp, Executive Transactions, Share Holdings