SEC Form 4 · accession 0001275305-16-000003
UNITY BANCORP INC /NJ/ · UNTY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
James A Hughes
Officer — President/CEO · Director
Period of report
Feb 25, 2016
Accepted (ET)
Feb 25, 2016 · 4:30 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000920427
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Restricted StockF1,F2,F3 | Feb 25, 2016 | A | 5,000 | $9.84 | A | 93,374 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionsF4,F5 | $9.84 | Feb 25, 2016 | A | 10,000 | A | Feb 25, 2017 | Feb 25, 2026 | Common Stock | 10,000 | 48,218 | D |
Explanation of responses
- F15,000 restricted shares were granted effective 2/25/16 and issued from the 2013 Stock Bonus Plan; vesting commences with 1,250 shares on 2/25/17; 1,250 shares on 2/25/18; 1,250 shares on 2/25/19; and 1,250 shares on 2/25/20.
- F2Stock price at the close of business on 2/24/16.
- F393,374 shares consist of 22,200 shares of restricted stock; 6,906 shares in 401K plan; 15,842 shares in brokerage account; 48,426 held in an account at Computershare.
- F410,000 non-qualified stock options were granted on 2/25/16 from the 2013 Stock Option Plan; vesting over a three-year period one-third shall vest; i.e., 3,333 on 2/25/17; 3,333 on 2/25/18; and 3,334 on 2/25/19.
- F548,218 options are outstanding; 24,884 are exercisable and 23,334 an unexercisable. The price varies from $7.48 to $12.62.