SEC Form 4 · accession 0001604682-16-000028
UNITY BANCORP INC /NJ/ · UNTY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Raj Patel
Director
Period of report
Jan 5, 2016
Accepted (ET)
Jan 6, 2016 · 2:00 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 RestrictedF1,F2,F3 | Jan 5, 2016 | A | 1,600 | $12.06 | A | 14,621 | 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 | $12.06 | Jan 5, 2016 | A | 4,000 | A | Jan 5, 2017 | Jan 5, 2026 | Common Stock | 4,000 | 12,200 | D |
Explanation of responses
- F11,600 restricted shares were granted on 1/5/16 from the 2013 Stock Bonus Plan and vest over four years; vesting commences with 400 shares on 1/5/17; 400 shares on 1/5/18; 400 shares on 1/5/19; and 400 shares on 1/5/20.
- F2Stock price at the close of business on 1/4/16.
- F37,300 of total beneficially owned shares are Restricted Stock subject to four-year vesting period determined by the individual grant dates; 7,321 are held by Mr. Patel in street name.
- F44,000 stock options were granted on 1/5/16, which vest 1/3 each year; i.e., 1,333 on 1/5/17; 1,333 on 1/5/18; and 1,334 on 1/5/19.
- F5Total exercisable options as of 1/5/16.