James A. Hughes - 14 Mar 2022 Form 4 Insider Report for UNITY BANCORP INC /NJ/ (UNTY)

Role
President/CEO, Director
Signature
James A. Hughes, POA Laurie Cook, Chief Accounting Officer/SVP
Issuer symbol
UNTY
Transactions as of
14 Mar 2022
Net transactions value
-$44,989
Form type
4
Filing time
16 Mar 2022, 17:30:08 UTC
Previous filing
10 Mar 2022
Next filing
29 Mar 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UNTY Restricted Stock Tax liability $27,883 -1,003 -3.3% $27.80 29,574 14 Mar 2022 Direct F1
transaction UNTY Restricted Stock Tax liability $17,105 -607 -2.1% $28.18 28,074 16 Mar 2022 Direct F2
transaction UNTY Restricted Stock Award $0 +18,000 +64% $0.000000 46,074 16 Mar 2022 Direct F3, F4
holding UNTY Common Stock 118,542 14 Mar 2022 Direct F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding UNTY Stock Options (Right to buy) 122,000 14 Mar 2022 Common Stock Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 1,003 shares were withheld @ $27.80 per share to cover tax liability on 2,500 restricted shares vested.
F2 607 shares were withheld @ $28.18 per share to cover tax liability on 1,500 restricted shares vested.
F3 18,000 restricted shares were granted on 3/16/2022 from the 2019 Equity Compensation Plan and vest over four years; vesting commences with 4,500 shares on 3/16/2023, 4,500 shares on 3/16/2024, 4,500 shares on 3/16/2025, and 4,500 shares on 3/16/2026.
F4 45,250 shares are held in an account at Computershare, which have upcoming vesting dates, 824 are dividend reinvested shares for a total of 46,074.
F5 90,748 shares are held in an account at Shareworks, 6,085 are held in an account at Computershare, 12,327 shares are held in additional brokerage accounts, and 9,382 are held in a 401(K) for a total of 118,542.
F6 122,000 stock options were granted under various dates and vesting periods of which 92,000 are currently exercisable.

Remarks:

Total Beneficial Ownership: 256,616