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Unity Bancorp (UNTY) officer has restricted shares withheld for taxes

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Unity Bancorp’s Chief Lending Officer James Joseph Donovan reported routine share updates. On May 18, 69 Restricted Stock shares were withheld at $52.43 per share to cover taxes on 250 restricted shares vesting, a non‑market, tax-withholding disposition. Following these events, he holds 4,950 Restricted Shares in a Computershare account with upcoming vesting dates and 181 Common Stock shares in a Shareworks account, indicating a continuing equity stake in the company.

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Insider Donovan James Joseph
Role Chief Lending Officer/FSVP
Type Security Shares Price Value
Tax Withholding Restricted Stock 69 $52.43 $4K
holding Common Stock -- -- --
Holdings After Transaction: Restricted Stock — 4,950 shares (Direct, null); Common Stock — 181 shares (Direct, null)
Footnotes (1)
  1. 69 shares were withheld @ $52.43 per share to cover tax liability on 250 restricted shares vesting. 4,950 Restricted Shares are held in an account at Computershare, which had upcoming vesting dates. 181 shares are held in an account at Shareworks.
Tax-withheld shares 69 shares Restricted Stock withheld to cover tax liability
Tax-withholding price $52.43 per share Value used for 69 withheld Restricted Stock shares
Restricted shares vesting 250 shares Restricted shares that vested, triggering tax withholding
Restricted shares held 4,950 shares Restricted Shares held at Computershare after transaction
Common shares held 181 shares Common Stock held at Shareworks after transaction
Restricted Stock financial
"69 shares were withheld @ $52.43 per share to cover tax liability on 250 restricted shares vesting."
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
tax-withholding disposition financial
"transaction_action": "tax-withholding disposition""
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
Restricted Shares financial
"4,950 Restricted Shares are held in an account at Computershare, which had upcoming vesting dates."
Restricted shares are company stock that cannot be sold or transferred immediately because they are subject to legal or contractual limits, such as a required holding period or performance conditions. They matter to investors because these locked-up shares can affect a company’s available stock for trading, future dilution, and insider incentives—imagine a gift that can’t be cashed until certain conditions are met, which changes when and how much supply can suddenly enter the market.
Shareworks other
"181 shares are held in an account at Shareworks."
Computershare other
"4,950 Restricted Shares are held in an account at Computershare, which had upcoming vesting dates."
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Donovan James Joseph
(Last)(First)(Middle)
C/O UNITY BANK
64 OLD HIGHWAY 22
(Street)
CLINTON NEW JERSEY 08809
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
UNITY BANCORP INC /NJ/ [ UNTY ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Lending Officer/FSVP
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/18/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Restricted Stock05/18/2026F69(1)D$52.434,950(2)D
Common Stock181(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. 69 shares were withheld @ $52.43 per share to cover tax liability on 250 restricted shares vesting.
2. 4,950 Restricted Shares are held in an account at Computershare, which had upcoming vesting dates.
3. 181 shares are held in an account at Shareworks.
Remarks:
Total beneficial ownership; 5,131
James J. Donovan, POA Amanda Roche, FVP/Controller05/20/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Unity Bancorp (UNTY) report for James Joseph Donovan?

Unity Bancorp reported that officer James Joseph Donovan had 69 Restricted Stock shares withheld to cover tax liabilities. This occurred when 250 restricted shares vested, reflecting a standard compensation-related tax-withholding disposition rather than an open-market stock sale or purchase.

Was the Unity Bancorp (UNTY) Form 4 transaction a stock sale or a tax withholding?

The Form 4 shows a tax withholding, not an open-market sale. Specifically, 69 Restricted Stock shares were withheld at $52.43 per share to satisfy taxes due on the vesting of 250 restricted shares granted to the company’s Chief Lending Officer.

How many Unity Bancorp (UNTY) restricted shares does James Joseph Donovan hold after this filing?

After the reported transaction, James Joseph Donovan holds 4,950 Restricted Shares. These shares are kept in an account at Computershare and have upcoming vesting dates, indicating ongoing equity-based compensation and a continuing alignment with Unity Bancorp’s long-term shareholder interests.

What price per share was used for the Unity Bancorp (UNTY) tax-withholding shares?

The tax-withholding disposition used a price of $52.43 per share. At this price, 69 Restricted Stock shares were withheld to cover tax liabilities arising from the vesting of 250 restricted shares held by Unity Bancorp’s Chief Lending Officer, James Joseph Donovan.

How many Unity Bancorp (UNTY) common shares does James Joseph Donovan own directly?

James Joseph Donovan directly owns 181 Unity Bancorp Common Stock shares. According to the filing, these shares are held in a Shareworks account, separate from his 4,950 Restricted Shares that are maintained in a Computershare account with upcoming vesting dates.

Does the Unity Bancorp (UNTY) Form 4 indicate remaining equity exposure for the officer?

Yes. The Form 4 shows that, after the tax-withholding disposition, James Joseph Donovan still holds 4,950 Restricted Shares and 181 Common Stock shares. This suggests he maintains a meaningful ongoing equity interest linked to Unity Bancorp’s future performance and shareholder value.