Unity Bancorp (NASDAQ: UNTY) CEO uses 3,638 shares to cover taxes

Q: Were the recent UNTY insider transactions open-market sales?

No, the recent transactions were tax-withholding dispositions , not open-market sales. Shares of Restricted Stock were withheld at $50.01 per share to pay taxes on restricted stock vesting, a routine compensation-related mechanism rather than a discretionary sale into the market.

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Unity Bancorp CEO James A. Hughes reported routine share withholdings to cover taxes on vesting restricted stock, rather than open-market sales. On March 15 and 16, 2026, a total of 3,638 Restricted Stock shares were withheld at $50.01 per share for tax liabilities tied to a 4,500-share restricted stock vesting on each date.

After these tax-withholding dispositions, Hughes directly holds 39,824 restricted shares, including 824 dividend reinvested shares, and 183,141 Common Stock shares across brokerage, plan, and transfer agent accounts. These entries show his updated equity position following routine compensation-related tax events.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider HUGHES JAMES A

Role CEO

Type	Security	Shares	Price	Value
Tax Withholding	Restricted Stock	1,819	$50.01	$91K
Tax Withholding	Restricted Stock	1,819	$50.01	$91K
holding	Stock Options (Right to buy)	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock — 39,824 shares (Direct); Stock Options (Right to buy) — 0 shares (Direct); Common Stock — 183,141 shares (Direct)

Footnotes (1)

1,819 shares were withheld @ $50.01 per share to cover tax liability on a 4,500 restricted stock vesting for both 3/15/2026 and 3/16/2026. 39,000 restricted shares are held in an account at Computershare, which have upcoming vesting dates. 824 shares are dividend reinvested shares for a total of 39,824. 183,141 shares consisting of 156,577 in an account at Shareworks, 6,085 shares held in an account at Computershare, 11,097 shares held in street name, and 9,382 shares are held in a 401K plan. 89,000 stock options were granted under various dates and vesting periods of which all are currently available.

Form 4 Insider Transactions: What Each Field Means →

03/17/2026 - 04:43 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

HUGHES JAMES A

(Last)

(First)

(Middle)

UNITY BANK

64 OLD HWY 22

(Street)

CLINTON

08809

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
UNITY BANCORP INC /NJ/ [ UNTY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	CEO

3. Date of Earliest Transaction (Month/Day/Year)
03/15/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock	03/15/2026		F		1,819⁽¹⁾	D	$50.01	44,324	D
Restricted Stock	03/16/2026		F		1,819⁽¹⁾	D	$50.01	39,824⁽²⁾	D
Common Stock								183,141⁽³⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Options (Right to buy)	⁽⁴⁾							⁽⁴⁾	⁽⁴⁾	Common Stock	⁽⁴⁾		89,000⁽⁴⁾	D

Explanation of Responses:

1. 1,819 shares were withheld @ $50.01 per share to cover tax liability on a 4,500 restricted stock vesting for both 3/15/2026 and 3/16/2026.

2. 39,000 restricted shares are held in an account at Computershare, which have upcoming vesting dates. 824 shares are dividend reinvested shares for a total of 39,824.

3. 183,141 shares consisting of 156,577 in an account at Shareworks, 6,085 shares held in an account at Computershare, 11,097 shares held in street name, and 9,382 shares are held in a 401K plan.

4. 89,000 stock options were granted under various dates and vesting periods of which all are currently available.

Remarks:

Total Beneficial Ownership: 311,965

	James A. Hughes, POA Amanda Roche, FVP/Controller	03/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did UNTY CEO James A. Hughes report?

James A. Hughes reported tax-withholding dispositions of company stock, not open-market trades. A total of 3,638 Restricted Stock shares were withheld at $50.01 per share to cover tax liabilities related to restricted stock vesting on March 15 and 16, 2026.

Were the recent UNTY insider transactions open-market sales?

No, the recent transactions were tax-withholding dispositions, not open-market sales. Shares of Restricted Stock were withheld at $50.01 per share to pay taxes on restricted stock vesting, a routine compensation-related mechanism rather than a discretionary sale into the market.

How many UNTY shares were withheld for James A. Hughes’s taxes?

A total of 3,638 Restricted Stock shares were withheld to cover taxes. The filing notes 1,819 shares withheld on March 15, 2026, and 1,819 shares on March 16, 2026, each priced at $50.01 per share for tax liability on restricted stock vesting.

What is James A. Hughes’s Restricted Stock position in UNTY after these transactions?

After the tax-withholding events, Hughes directly holds 39,824 Restricted Stock shares. Footnotes specify this includes 39,000 restricted shares in an account at Computershare and 824 dividend reinvested shares, reflecting his updated restricted equity position following recent vesting and withholdings.

How many UNTY common shares does CEO James A. Hughes hold?

Hughes holds 183,141 Common Stock shares in total. This consists of 156,577 shares in a Shareworks account, 6,085 at Computershare, 11,097 held in street name, and 9,382 shares in a 401(k) plan, according to the Form 4 footnotes.

What does the Form 4 reveal about UNTY CEO’s remaining equity exposure?

The Form 4 shows substantial remaining equity exposure for the CEO. Despite tax-withholding dispositions of 3,638 restricted shares, he still directly holds 39,824 restricted shares and 183,141 common shares across multiple accounts, indicating a significant continuing stake in Unity Bancorp.