HUGHES JAMES A 4
4 · UNITY BANCORP INC /NJ/ · Filed Mar 17, 2026
Research Summary
AI-generated summary of this filing
Unity Bancorp (UNTY) CEO James Hughes Withholds 3,638 Shares for Taxes
What Happened James A. Hughes, CEO and director of Unity Bancorp (UNTY), had 1,819 shares withheld on 2026-03-15 and another 1,819 shares withheld on 2026-03-16 to cover tax liabilities arising from restricted stock vesting. Each withholding was at $50.01 per share, about $90,968 per event and ~$181,936 total. These transactions are tax-withholding (code F), not open-market sales.
Key Details
- Transaction dates and prices: 3/15/2026 — 1,819 shares @ $50.01; 3/16/2026 — 1,819 shares @ $50.01.
- Total withheld: 3,638 shares; total value ≈ $181,936.
- Shares owned after transaction (total beneficial ownership): 311,965.
- Footnotes: Withholdings covered tax on 4,500 restricted shares vesting on each date (F1). Hughes holds 39,824 restricted shares (39,000 + 824 DRIP) at Computershare (F2), 183,141 shares across Shareworks/Computershare/street/401(k) (F3), and 89,000 stock options currently available (F4).
- Filing: Form 4 filed 2026-03-17 for transactions on 3/15 and 3/16; filing appears timely (within typical 2-business-day window).
Context This was a routine tax-withholding related to RSU vesting (a cashless withholding), not an open-market sale or purchase. Such withholdings reduce the insider’s issued shares to meet tax obligations and do not necessarily signal a change in sentiment. The filing also notes substantial remaining restricted shares and exercisable options, which may lead to future vesting or transactions.
Insider Transaction Report
- Tax Payment
Restricted Stock
[F1]2026-03-15$50.01/sh−1,819$90,968→ 44,324 total - Tax Payment
Restricted Stock
[F1][F2]2026-03-16$50.01/sh−1,819$90,968→ 39,824 total
- 183,141
Common Stock
[F3] - 89,000
Stock Options (Right to buy)
[F4]→ Common Stock
Footnotes (4)
- [F1]1,819 shares were withheld @ $50.01 per share to cover tax liability on a 4,500 restricted stock vesting for both 3/15/2026 and 3/16/2026.
- [F2]39,000 restricted shares are held in an account at Computershare, which have upcoming vesting dates. 824 shares are dividend reinvested shares for a total of 39,824.
- [F3]183,141 shares consisting of 156,577 in an account at Shareworks, 6,085 shares held in an account at Computershare, 11,097 shares held in street name, and 9,382 shares are held in a 401K plan.
- [F4]89,000 stock options were granted under various dates and vesting periods of which all are currently available.