Form 4: Unity Bancorp Executive Discloses Share Transactions and Holdings

David G. Bove, Chief Technology Officer of Unity Bancorp, reports share transactions and holdings including restricted shares, common stock, and stock options.

Summary

• David G. Bove, the Chief Technology Officer of Unity Bancorp, has disclosed his share transactions and holdings.
• 144 shares were withheld at $45.39 per share to cover tax liabilities on 525 restricted shares that are vesting.
• 3,775 restricted shares are held in an account at Computershare with upcoming vesting dates.
• 6,323 shares are held in an account at Shareworks.
• 20,500 stock options, granted under various dates and vesting periods, are currently exercisable.
• Mr. Bove's total beneficial ownership is 30,598 shares.

Sentiment

Score: 5

Explanation: The document is a neutral disclosure of share transactions and holdings, with no positive or negative implications.

Industry Context

This is a standard disclosure of executive share transactions and holdings, which is common practice for publicly traded companies.

Comparison to Industry Standards

• Executive shareholding disclosures are a common practice for publicly traded companies like Unity Bancorp.
• The reporting of restricted shares, stock options, and common stock holdings is consistent with standard industry practices.
• Companies like First Republic Bank (before its acquisition) and Silicon Valley Bank (before its collapse) also had similar disclosures for their executives.

Stakeholder Impact

• This disclosure provides transparency to shareholders regarding executive ownership.
• The information is relevant to investors monitoring executive compensation and alignment with shareholder interests.

Key Dates

Keywords

Unity Bancorp, share transactions, restricted shares, stock options, beneficial ownership, executive holdings, UNTY