Form 4: Unity Bancorp Executive Receives Restricted Stock Grant and Discloses Share Holdings

James R. Davies, Controller/SVP of Unity Bancorp, reports a grant of 1,250 restricted shares and discloses holdings of common stock and dividend reinvestment shares.

Summary

• James R. Davies, Controller/SVP of Unity Bancorp, received 1,250 restricted shares on January 27, 2025, under the 2023 Equity Compensation Plan.
• These restricted shares vest over four years, with 313 shares vesting on January 27, 2026, 312 shares on January 27, 2027, 313 shares on January 27, 2028, and 312 shares on January 27, 2029.
• Mr. Davies also holds 3,275 shares in a Computershare account, including 88 dividend reinvested shares, and 1,251 shares of common stock, including 1,101 shares in a Shareworks account with reinvested dividends and 150 shares in a brokerage account.
• The total beneficial ownership of Mr. Davies is 4,526 shares.

Sentiment

Score: 7

Explanation: The document is a routine disclosure of stock grants and holdings, which is generally neutral. The vesting schedule is a positive sign of long-term alignment.

Positives

• The grant of restricted stock aligns the executive's interests with the long-term performance of the company.
• The vesting schedule encourages continued service and contribution from the executive.

Industry Context

This is a standard SEC Form 4 filing, which is common for publicly traded companies when executives receive stock grants or change their holdings. It is a routine disclosure required by securities regulations.

Comparison to Industry Standards

• Stock grants and vesting schedules are common practices for executive compensation in the financial services industry.
• The four-year vesting period is a typical timeframe for such grants, aligning with long-term performance goals.
• Companies like JPMorgan Chase, Bank of America, and Wells Fargo also use similar equity compensation plans for their executives.

Stakeholder Impact

• The stock grant may be viewed positively by shareholders as it aligns executive interests with company performance.
• The disclosure provides transparency regarding executive compensation and ownership.

Key Dates

Keywords

restricted stock, beneficial ownership, equity compensation, share holdings, insider trading, vesting, dividends, Unity Bancorp