Form 4: Unity Bancorp Executive Receives Restricted Stock Grant and Disposes of Shares

Daniel C. Sharabba, Chief Retail Officer/SVP of Unity Bancorp, received a grant of 1,750 restricted shares and disposed of 433 common shares on January 27, 2025.

Summary

• Daniel C. Sharabba, Chief Retail Officer/SVP of Unity Bancorp, reported changes in his beneficial ownership of company stock.
• On January 27, 2025, Mr. Sharabba was granted 1,750 restricted shares under the 2023 Equity Compensation Plan.
• These restricted shares will vest over four years, starting with 438 shares on January 27, 2026, and continuing with 437 shares on January 27, 2027, 438 shares on January 27, 2028, and 437 shares on January 27, 2029.
• Mr. Sharabba also disposed of 433 common shares on the same date.
• Additionally, Mr. Sharabba holds 4,026 shares in a Computershare account, which includes 26 dividend reinvested shares, and 433 shares in a Shareworks account with quarterly dividend reinvestments.
• His total beneficial ownership is now 4,459 shares.

Sentiment

Score: 6

Explanation: The document reflects routine executive compensation and stock transactions. There is no indication of positive or negative sentiment, it is a neutral event.

Positives

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

Negatives

• The disposal of 433 common shares could be interpreted as a slight reduction in his direct stake in the company.

Risks

• The vesting of the restricted shares is contingent on Mr. Sharabba's continued employment with the company.
• The value of the restricted shares is subject to market fluctuations.

Industry Context

This is a standard SEC Form 4 filing, which is common for publicly traded companies when executives have transactions involving company stock. It is a routine disclosure and does not indicate any unusual activity.

Comparison to Industry Standards

• The granting of restricted stock is a common practice for executive compensation in the financial industry.
• Vesting schedules over multiple years are also standard to retain key personnel.
• The disposal of shares is not unusual and can be for various reasons, including personal financial planning.

Stakeholder Impact

• The stock grant may be viewed positively by shareholders as it aligns executive interests with company performance.
• The disposal of shares is unlikely to have a significant impact on stakeholders.

Key Dates

Keywords

restricted stock, beneficial ownership, equity compensation, stock grant, insider trading, Unity Bancorp, UNTY, Daniel Sharabba