Patel Raj 4

What Happened
Raj Patel, a director of Unity Bancorp, was granted 1,200 restricted shares on January 27, 2026 (transaction code A). The grant was recorded at $0.00 per share (total reported value $0) as part of the company’s 2023 Equity Compensation Plan. This is an equity award (not an open-market purchase or sale) and vests over time rather than providing immediate liquid shares.

Key Details

• Transaction date: 2026-01-27; Form 4 filed 2026-01-28 (timely filing for the reported date).
• Transaction type/code: Grant / Award (A). Price reported: $0.00 per share; total reported acquisition value: $0.
• Vesting (per footnote F1): 1,200 restricted shares vest over four years — 300 shares vest on each of 1/27/2027, 1/27/2028, 1/27/2029 and 1/27/2030.
• Shares owned after the grant (total beneficial ownership): 67,522 (per filing remarks).
• Other holdings (footnotes): 4,000 restricted shares held at Computershare with upcoming vesting (F2); 55,322 shares across Charles Schwab, Morgan Stanley and Shareworks (F3); 8,200 stock options granted under various schedules, all currently exercisable (F4).
• No 10b5-1 plan, tax-withholding sale, or gift indicated in this filing. This was an award grant, not a sale or purchase.

Context
Restricted stock awards are common director compensation and generally carry vesting conditions that limit immediate sale. Because these shares vest over future dates, they do not represent immediate liquid proceeds and should be viewed as compensation rather than a market-value purchase signal. The filing reports an increased ownership stake on paper (beneficial ownership 67,522) once the award is granted, subject to the listed vesting schedule.