secwatch.observer — SEC 8-K summary
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Issuer:     UNITY BANCORP INC /NJ/ (UNTY)
CIK:        0000920427
Form:       8-K
Filed at:   2024-08-01T23:59:59+00:00
Accession:  0000920427-24-000060
Event type: other_material
Sentiment:  positive
Materiality: 0.55
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Unity Bancorp approves new share repurchase program for up to 500,000 shares (~5% of outstanding)
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- Board authorized repurchase of up to 500,000 shares (~5% of outstanding common stock).
- New program begins after completion of 2023 plan, which has 184,645 shares remaining.
- Since April 2023, company repurchased 315,355 shares under the prior program.
- CEO cites strong capital position and says repurchases may occur when stock trades near tangible book value.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/920427/000092042724000060/0000920427-24-000060-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/920427/000092042724000060/unty-20240801x8k.htm
  HTML page:      https://secwatch.observer/filing/0000920427-24-000060

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer