---
schema_version: "secwatch.filing_event.v1"
accession: "0000920427-24-000030"
form_type: "8-K"
ticker: "UNTY"
cik: "0000920427"
company_name: "UNITY BANCORP INC /NJ/"
filed_at: "2024-04-25T23:59:59+00:00"
generated_at: "2026-06-03T09:03:59.483460+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "medium"
source: SEC EDGAR
---

# Unity Bancorp CEO reaffirms ~15% dividend payout target, notes headcount reduction at annual meeting

## Summary
- CEO James A. Hughes stated dividend payout target is typically around 15% to grow book value.
- Employee headcount reductions in late 2023 and early 2024 were referenced, as reflected in Q1 2024 earnings.
- Presentation made at Annual Shareholders Meeting on April 25, 2024, furnished as exhibit to 8-K.

## SEC filing metadata
- accession: 0000920427-24-000030
- form_type: 8-K
- ticker: UNTY
- cik: 0000920427
- company_name: UNITY BANCORP INC /NJ/
- filed_at: 2024-04-25T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: medium
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/920427/000092042724000030/0000920427-24-000030-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/920427/000092042724000030/unty-20240425x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000920427-24-000030
- JSON: https://secwatch.observer/filing/0000920427-24-000030.json
- Plain text: https://secwatch.observer/filing/0000920427-24-000030.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.