Unity Bancorp (UNTY) CEO awarded 15,000 restricted shares, shares withheld for taxes

Rhea-AI Filing Summary

Unity Bancorp CEO James A. Hughes reported routine equity compensation activity. On March 10, 2026, he received a grant of 15,000 restricted shares from the 2023 Equity Compensation Plan, vesting in four equal installments of 3,750 shares each year from March 10, 2027 through March 10, 2030.

On March 11, 2026, 1,415 restricted shares were withheld at $50.40 per share to cover taxes on a 3,500-share restricted stock vesting, a non‑market disposition. After these changes, he directly holds 48,824 restricted shares and 177,779 common shares, along with 89,000 stock options that are described as fully exercisable.

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^*

HUGHES JAMES A

(Last) (First) (Middle)

UNITY BANK

64 OLD HWY 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)
	CEO

3. Date of Earliest Transaction (Month/Day/Year)
03/10/2026

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	03/10/2026		A		15,000(1)	A	$0.00	52,324(2)	D
Restricted Stock	03/11/2026		F		1,415(3)	D	$50.4	48,824(4)	D
Common Stock								177,779(5)	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
Stock Option (Right to Buy)	(6)							(6)	(6)	Common Stock	(6)		89,000(6)	D

Explanation of Responses:

1. 15,000 restricted shares were granted on 3/10/2026 from the 2023 Equity Compensation Plan and vest over four years; vesting commences with 3,750 shares on 3/10/2027, 3,750 shares on 3/10/2028, 3,750 shares on 3/10/2029, and 3,750 shares on 3/10/2030.

2. 51,500 restricted shares are held in an account at Computershare, which have upcoming vesting dates. 824 shares are dividend reinvested shares for a total of 52,324.

3. 1,415 shares were withheld @ $50.40 per share to cover tax liability on a 3,500 restricted stock vesting.

4. 48,000 restricted shares are held in an account at Computershare, which have upcoming vesting dates. 824 shares are dividend reinvested shares for a total of 48,824.

5. 177,779 shares consisting of 151,215 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.

6. 89,000 stock options were granted under various dates and vesting periods of which all are currently exercisable.

Remarks:

Total Beneficial Ownership: 315,603

	James A. Hughes, POA Amanda Roche, FVP/Controller	03/11/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What equity compensation did Unity Bancorp (UNTY) CEO James Hughes receive?

Unity Bancorp CEO James Hughes received a grant of 15,000 restricted shares on March 10, 2026. The award comes from the 2023 Equity Compensation Plan and vests in four equal annual installments from 2027 through 2030, aligning with long-term incentives.

Why were 1,415 Unity Bancorp (UNTY) shares disposed of in this Form 4?

The 1,415 restricted shares were withheld at $50.40 per share to cover tax liability on a 3,500-share restricted stock vesting. This is a tax-withholding disposition, not an open-market sale, and is typical for equity awards vesting.

How many Unity Bancorp (UNTY) shares does CEO James Hughes hold after these transactions?

After the reported transactions, James Hughes directly holds 48,824 restricted shares and 177,779 common shares. These positions are spread across several accounts, including brokerage, plan, and 401(k) holdings, as described in the detailed footnotes.

What is the vesting schedule for the new Unity Bancorp (UNTY) restricted stock grant?

The 15,000-share restricted stock grant vests over four years. Vesting starts with 3,750 shares on March 10, 2027, followed by 3,750 on each of March 10, 2028, March 10, 2029, and March 10, 2030.

Does Unity Bancorp (UNTY) CEO James Hughes still hold stock options after this Form 4?

Yes. Footnotes indicate 89,000 stock options were granted on various dates and are all currently exercisable. These options are in addition to his common and restricted share holdings reported in this Form 4 filing.

Is the Unity Bancorp (UNTY) CEO’s tax-withholding share disposition a market sale?

No. The 1,415 shares were withheld to satisfy taxes on a restricted stock vesting. This F-code disposition reflects shares delivered back to cover tax obligations rather than an open-market sale decision by the CEO.