SEC Form 4 · accession 0001275305-16-000006
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
Nov 16, 2016
Accepted (ET)
Nov 16, 2016 · 4:08 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 |
|---|---|---|---|---|---|---|---|---|
| Common StockF2,F1 | Nov 16, 2016 | M | 1,162 | $11.48 | A | 105,582 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Common StockF4,F3 | $11.48 | Nov 16, 2016 | M | 8,490 | D | Jan 25, 2008 | Jan 25, 2017 | Common Stock | 1,162 | 44,550 | D |
Explanation of responses
- F1There was a 10% stock dividend on September 30, 2016, and a $0.05 cash dividend for which Mr. Hughes receives additional shares.
- F2Mr. Hughes had 8,490 stock options that were granted on 1/25/2007 and expire on 1/25/2017. The company did a "net-out" of those shares based on the stock price of $13.30 resulting in the issuance of 1,162 common shares.
- F38,490 stock options were granted on 1/25/07, which vest 1/3 each year commencing 1/25/08; 1/25/09; and 1/25/10 and expire on 1/25/17. Mr. Hughes received 1,162 shares of common stock through a "net-out" with the Company on 11/16/2016.
- F444,550 stock options were granted to Mr. Hughes of which 22,550 are currently exercisable.