UNTY Insider Report: James Hughes Holds 305,337 Shares and 95,000 Options

Rhea-AI Filing Summary

Unity Bancorp director and President/CEO James A. Hughes reported insider transactions on Form 4. The filing shows 809 common shares were withheld at $52.35 per share to cover taxes related to the vesting of 2,000 restricted shares. The report lists total beneficial ownership of 305,337 shares across various accounts and plans, and 95,000 stock options are currently exercisable. Holdings include 141,949 shares in Shareworks, 6,085 at Computershare, 11,097 in a brokerage account, and 9,382 in a 401(k). The filing also identifies 41,824 restricted shares (41,000 with upcoming vesting dates plus 824 dividend-reinvested shares).

Positive

• Total beneficial ownership of 305,337 shares shows continued substantial insider stake
• 95,000 stock options are fully exercisable, indicating potential future equity participation
• Detailed breakdown of holdings across Shareworks, Computershare, brokerage, and 401(k) enhances disclosure clarity

Negative

• 809 shares withheld at $52.35 to cover taxes on vesting restricted stock (disposition reported)

Insights

Financial Analyst

TL;DR: Insider retained material equity and exercisable options; a small tax-withholding sale occurred on vesting.

The reporting person remains materially invested with 305,337 total beneficial shares and 95,000 exercisable options, indicating ongoing alignment with shareholder outcomes. The only reported disposition was the withholding of 809 shares at $52.35 to cover tax obligations on vesting restricted stock, which is a routine administrative action rather than an active market sale. The breakdown of holdings across Shareworks, Computershare, brokerage, and a 401(k) provides transparency on share custody but does not indicate any change in control or large-scale divestiture.

Corporate Governance Expert

TL;DR: Transaction appears administrative; disclosure shows concentrated insider ownership and exercised option rights.

The Form 4 documents an administrative withholding tied to restricted stock vesting and confirms that restricted shares remain part of the reporting person's compensation structure. The presence of 41,824 restricted shares with upcoming vesting dates suggests continued use of equity incentives. The filing is clear about account locations and exercisable options, supporting good disclosure practices under Section 16 rules. There are no indications in the form of unexpected leadership changes or compliance issues.

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
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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 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/CEO

3. Date of Earliest Transaction (Month/Day/Year)
08/31/2025

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
Common Stock	08/31/2025		F		809(1)	D	$52.35	168,513(2)	D
Restricted Stock								41,824(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
Stock Options (Right to buy)	(4)							(4)	(4)	Common Stock	(4)		95,000(4)	D

Explanation of Responses:

1. 809 shares were withheld @ $52.35 per share to cover tax liability on 2,000 restricted stock vesting.

2. 168,513 shares consisting of 141,949 shares held in an account in Shareworks, 6,085 shares held in an account at Computershare, 11,097 shares held in a brokerage account, and 9,382 shares are held in a 401K plan.

3. 41,000 restricted shares are held in an account at Computershare, which have upcoming vesting dates. 824 shares are dividend reinvested shares for a total of 41,824.

4. 95,000 stock options were granted under various dates and vesting periods of which all are currently exercisable.

Remarks:

Total Beneficial Ownership: 305,337

	James A. Hughes, POA Amanda Roche, Finance Department Supervisor/VP	09/02/2025
	** 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 did James A. Hughes report on the Form 4 for UNTY?

The Form 4 reports that 809 shares were withheld at $52.35 per share to cover taxes on the vesting of 2,000 restricted shares, and it discloses total beneficial ownership of 305,337 shares plus 95,000 exercisable options.

How many restricted shares does the filing show for UNTY insider Hughes?

The filing lists 41,824 restricted shares comprising 41,000 restricted shares with upcoming vesting dates and 824 dividend-reinvested shares.

How is Hughes' 305,337-share ownership allocated across accounts?

The filing states 141,949 shares in Shareworks, 6,085 at Computershare, 11,097 in a brokerage account, and 9,382 in a 401(k) plan.

Are the stock options reported by the insider exercisable?

Yes, the Form 4 indicates 95,000 stock options are granted under various dates and vesting periods and are currently exercisable.

Was the transaction an active sale or an administrative withholding?

The filing explains the 809-share disposition was a withholding to cover tax liability on restricted stock vesting, which is an administrative action.