Sec Form 4 Filing - HUGHES JAMES A @ UNITY BANCORP INC /NJ/ - 2020-03-16

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
HUGHES JAMES A
2. Issuer Name and Ticker or Trading Symbol
UNITY BANCORP INC /NJ/ [ UNTY]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
President/CEO
(Last) (First) (Middle)
UNITY BANK, 64 OLD HWY 22
3. Date of Earliest Transaction (MM/DD/YY)
03/16/2020
(Street)
CLINTON, NJ08809
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Restricted Stock 03/16/2020 A 6,000 ( 1 ) A $ 0 27,824 ( 2 ) D
Common Stock 108,260 ( 3 ) D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy) $ 16.27 03/16/2020 A 15,000 ( 4 ) 03/16/2021 03/16/2030 Common Stock 15,000 $ 0 97,000 ( 5 ) D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
HUGHES JAMES A
UNITY BANK
64 OLD HWY 22
CLINTON, NJ08809
X President/CEO
Signatures
James A. Hughes, POA Laurie Cook, Controller 03/18/2020
Signature of Reporting Person Date
Explanation of Responses:
( 1 )6,000 restricted shares were granted on 3/16/2020 from the 2019 Equity Compensation Plan and vest over four years; vesting commences with 1,500 shares on 3/16/2021, 1,500 shares on 3/16/2022, 1,500 shares on 3/16/2023, and 1,500 shares on 3/16/2024.
( 2 )27,000 shares are held in an account at Computershare, which have upcoming vesting dates. 824 shares are dividend reinvested shares for a total of 27,824.
( 3 )108,260 shares consisting of 80,316 shares held in an account at Shareworks, 6,085 shares held in an account at Computershare, 12,427 shares held in a brokerage account, and 9,432 shares are held in a 401K plan.
( 4 )15,000 stock options were granted on 3/16/2020 from the 2019 Equity Compensation Plan and vest over three years; vesting commences with 5,000 shares on 3/16/2021, 5,000 shares on 3/16/2022, and 5,000 shares on 3/16/2023.
( 5 )97,000 stock options were granted under various dates and vesting periods of which 52,668 are currently exercisable.

Remarks:
Total Beneficial Ownership: 188,752

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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