secwatch.observer — SEC 8-K summary
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Issuer:     UNITY BANCORP INC /NJ/ (UNTY)
CIK:        0000920427
Form:       8-K
Filed at:   2026-09-23T20:30:15+00:00
Accession:  0001193125-26-399476
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Unity Bancorp CEO Hughes to retire Mar 31, 2027; Boyan named successor
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- James A. Hughes will retire as CEO of Unity Bancorp and Unity Bank effective March 31, 2027; will remain on both boards.
- George Boyan, current President, becomes President and CEO effective April 1, 2027.
- SERP amendment raises Hughes' retirement benefit from 60% to 65%; one-time pre-tax expense of $769K in Q3 2026.
- Hughes led growth from $356M to $3.2B in assets; market cap up from ~$7.4M to over $575M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/920427/000119312526399476/0001193125-26-399476-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/920427/000119312526399476/unty-20260923.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-399476

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