Unity Bancorp (UNTY) president covers tax liability with stock

Rhea-AI Filing Summary

Unity Bancorp Inc. President George Boyan reported a tax-related share transaction. On the vesting of 3,000 restricted shares, 1,085 restricted shares were withheld at $51.08 per share to cover tax liability, a standard non‑open‑market disposition. After this, he directly holds 25,685 restricted shares and 26,945 common shares across reported accounts.

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

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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^*

Boyan George

(Last) (First) (Middle)

C/O UNITY BANK

64 OLD HIGHWAY 22

(Street)

CLINTON NJ 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)
	President

3. Date of Earliest Transaction (Month/Day/Year)
03/08/2026

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)
			Code	V	Amount	(A) or (D)	Price
Restricted Stock	03/08/2026		F		1,085(1)	D	$51.08	25,685(2)	D
Common Stock								26,945(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. 1,085 shares were withheld @ $51.08 per share to cover tax liability on 3,000 restricted stock vesting.

2. 24,000 restricted shares are held in an account at Computershare, which have upcoming vesting dates. 1,685 shares are dividend reinvested shares for a total of 25,685.

3. 26,945 shares consisting of 25,945 shares held in an account at Shareworks and 1,000 shares held in street name.

Remarks:

Total Beneficial Ownership: 52,631

	George Boyan, POA Amanda Roche, FVP/Controller	03/09/2026
	** 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.

FAQ

What insider transaction did Unity Bancorp (UNTY) report for George Boyan?

Unity Bancorp reported that President George Boyan had 1,085 restricted shares withheld to cover taxes. The shares were withheld at $51.08 each upon vesting of 3,000 restricted shares, reflecting a tax-withholding disposition rather than an open-market sale.

Was the Unity Bancorp (UNTY) Form 4 transaction a sale on the open market?

The Form 4 indicates a tax-withholding disposition, not an open-market sale. 1,085 restricted shares were withheld at $51.08 per share to satisfy tax liability when 3,000 restricted shares vested, a common administrative transaction for equity compensation.

How many Unity Bancorp restricted shares does George Boyan hold after this Form 4?

Following the reported transaction, George Boyan holds 25,685 restricted shares. Footnotes explain these consist of 24,000 restricted shares with upcoming vesting dates and 1,685 dividend reinvested shares, all reflected in an account at Computershare.

What is George Boyan’s total reported Unity Bancorp common stock holding?

The Form 4 reports 26,945 common shares held directly after the transaction. Footnotes state this includes 25,945 shares in an account at Shareworks and 1,000 shares held in street name, summarizing his direct common stock ownership position.

What does transaction code F mean in the Unity Bancorp (UNTY) Form 4?

Transaction code F reflects payment of tax liability by delivering securities. In this case, 1,085 restricted shares were withheld at $51.08 per share to cover taxes due when 3,000 restricted shares vested, rather than being sold in the open market.

How many Unity Bancorp shares vested in George Boyan’s restricted stock award?

The footnotes state that 3,000 restricted shares vested, triggering tax liability. To cover that liability, 1,085 of those shares were withheld at $51.08 per share, with the remainder becoming part of his continuing restricted stock holdings at Computershare.