SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
September 9, 2021
Date of Report (Date of earliest event reported)
UNITY BANCORP, INC.
(Exact Name of Registrant as Specified in its Charter)
New Jersey
(State or Other Jurisdiction of Incorporation)
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1-12431 | 22-3282551 |
(Commission File Number) | (IRS Employer Identification No.) |
64 Old Highway 22
Clinton, NJ 08809
(Address of Principal Executive Office)
(908) 730-7630
(Registrant’s Telephone Number, Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Common stock | UNTY | NASDAQ |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
On September 9, 2021, the Registrant entered into an amendment to its Supplemental Executive Retirement Plan (“SERP”) with Mr. James Hughes, the Company’s President and CEO, effective August 26, 2021. The amendment changes the crediting rate under the SERP from a fixed two (2.0) percent to a crediting rate equal to the Consumer Price Index, as reported by the U.S. Bureau of Labor Statistics for All Urban Consumers (CPI-U) as of December 31 of the prior year.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
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Exhibit 10.1 | Amendment No. 3 to Unity Bancorp, Inc. Supplemental Executive Retirement Plan |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
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| UNITY BANCORP, INC. | |
| (Registrant) | |
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Date: September 9, 2021 | | |
| By: | /s/ George Boyan |
| | George Boyan |
| | Executive Vice President and Chief Financial Officer |
EXHIBIT INDEX
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EXHIBIT # |
| DESCRIPTION |
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10.1 | | Amendment No. 3 to Unity Bancorp, Inc. Supplemental Executive Retirement Plan |