Form 4: Unity Bancorp Executive's Shareholdings and Options Disclosed

A recent filing details the shareholdings and stock options of Unity Bancorp's Chief Technology Officer, David G. Bove.

Summary

• David G. Bove, Chief Technology Officer of Unity Bancorp, has disclosed his shareholdings and stock options.
• 69 shares were withheld at $45.81 each to cover tax liabilities on 250 restricted shares that vested.
• Mr. Bove holds 3,525 restricted shares in a Computershare account with upcoming vesting dates.
• He also holds 6,504 shares in a Shareworks account.
• Additionally, Mr. Bove has 20,500 stock options that are currently exercisable, granted under various dates and vesting periods.
• His total beneficial ownership is 30,529 shares.

Sentiment

Score: 5

Explanation: The document is a neutral disclosure of executive shareholdings and options, with no inherent positive or negative sentiment.

Industry Context

This disclosure is a standard practice for publicly traded companies, providing transparency into executive ownership and compensation.

Comparison to Industry Standards

• Executive shareholding disclosures are common across the financial industry, with similar filings made by executives at companies like JPMorgan Chase, Bank of America, and Wells Fargo.
• The structure of restricted shares and stock options is also typical, aligning executive interests with shareholder value.

Stakeholder Impact

• This disclosure provides transparency to shareholders regarding executive ownership.
• It also provides insight into the alignment of executive interests with shareholder value.

Key Dates

Keywords

Unity Bancorp, shareholdings, stock options, executive compensation, restricted shares, beneficial ownership, David G. Bove