Form 4: Unity Bancorp Insider Sells Shares for Tax Withholding

Unity Bancorp's Chief Lending Officer, James Joseph Donovan, reported a transaction involving the withholding of shares to cover tax liabilities upon restricted stock vesting.

Summary

• James Joseph Donovan, Chief Lending Officer and FSVP at Unity Bancorp Inc. /NJ/, reported a transaction on May 18, 2026.
• 69 shares of restricted stock were withheld at a price of $52.43 per share to cover tax liabilities on 250 restricted shares that vested.
• Following this transaction, Donovan beneficially owns 4,950 restricted shares held at Computershare and 181 shares held at Shareworks, totaling 5,131 shares.
• The filing is made pursuant to Section 16(a) of the Securities Exchange Act of 1934.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it represents a routine tax-related transaction by an insider rather than a significant change in beneficial ownership or a strategic move.

Positives

• The transaction was executed to cover tax liabilities, indicating a standard procedure for vested restricted stock.
• The reporting person continues to hold a significant number of shares (5,131) after the transaction.

Negatives

• A portion of vested restricted stock was disposed of (withheld) to cover taxes.

Future Outlook

No specific future outlook or guidance is provided in this Form 4 filing.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard disclosures for insider transactions, such as the withholding of shares for tax purposes, which is a common practice when restricted stock vests.

Stakeholder Impact

• Shareholders: No immediate impact expected as this is a standard tax-related transaction for vested stock.
• Management: Represents a routine event for insiders holding restricted stock.

Key Dates

Keywords

Unity Bancorp, UNTY, Form 4, Insider Transaction, Restricted Stock, Tax Withholding, Beneficial Ownership, SEC Filing