Form 4: Unity Bancorp Executive Disposes of Shares to Cover Tax Obligations

Daniel C. Sharabba, Senior Retail Officer/SVP of Unity Bancorp, disposed of shares to cover tax liabilities upon vesting of restricted stock.

Summary

• On January 2, 2025, Daniel C. Sharabba, a Senior Retail Officer/SVP at Unity Bancorp, disposed of 213 shares of restricted stock at a price of $43.61 per share to cover tax liabilities.
• Following the transaction, Sharabba directly owns 2,276 restricted shares held in an account at Computershare with upcoming vesting dates, including 26 dividend reinvested shares.
• Sharabba also directly owns 433 common shares held in an account at Shareworks.
• The total beneficial ownership reported is 2,709 shares.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, with no indication of positive or negative sentiment.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential sentiment.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for publicly traded companies in the United States, ensuring transparency in insider trading activities.
• Similar filings are common across the financial industry, with companies like JPMorgan Chase & Co. and Bank of America regularly reporting insider transactions.
• The reporting requirements are governed by Section 16(a) of the Securities Exchange Act of 1934, ensuring a level playing field for all publicly traded companies.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine disposal of shares to cover tax obligations.

Key Dates