Boyan George 4

What Happened

• Boyan George, President and Director of Unity Bancorp (UNTY), was granted 10,250 restricted shares on 2026-03-10 under the company’s 2023 Equity Compensation Plan (transaction code A). These shares were granted with no cash price ($0.00).
• On 2026-03-11, 859 shares were withheld (disposed) at $50.40 per share to satisfy tax withholding related to the vesting of 2,375 restricted shares, generating proceeds of $43,294 (transaction code F). This withholding is a routine tax-payment method, not an open-market sale.

Key Details

• Grant date: 2026-03-10 — 10,250 restricted shares awarded (2023 Equity Compensation Plan).
• Tax withholding: 2026-03-11 — 859 shares withheld at $50.40/share for $43,294 to cover taxes on a 2,375-share vesting.
• Vesting schedule for the 10,250-share grant (Footnote F1): vests over 4 years — 2,563 shares on 3/10/2027; 2,562 on 3/10/2028; 2,563 on 3/10/2029; 2,562 on 3/10/2030.
• Other restricted/share holdings called out in the filing (footnotes): additional restricted shares held at Computershare and Shareworks and dividend-reinvested shares (see F2–F5).
• Total beneficial ownership after these actions: 62,022 shares (as reported).
• Filing date: 2026-03-11; the grant (3/10) and withholding (3/11) were reported on the Form 4 filed 3/11/2026 (no late-filing indication in the report).

Context

• The 10,250-share entry is an equity award (compensation), not an open-market purchase; such grants are routine for executives and reflect compensation arrangements rather than a direct buy signal.
• The 859-share disposition was a cashless tax withholding to satisfy payroll/tax obligations on vested restricted shares — a common administrative step and not a discretionary sale.