8-K

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

March 29, 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)

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:

☐	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:

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 March 26, 2021, Unity Bank ("Unity"), the Registrant's wholly owned subsidiary, announced that industry veteran George Boyan will be joining the Company as Executive Vice President and Chief Financial Officer, effective April 5, 2021.

The table below sets forth certain information about Mr. Boyan:

Name and Position	Age	Principal Occupation for the Past Five Years	Officer Since	Term Expires
George Boyan Executive Vice President and Chief Financial Officer	39	First Senior Vice President, Treasurer and Controller at Bank Leumi USA, New York, NY	N/A	N/A (1)

(1) Officers serve at the pleasure of the Board of Directors

There are no arrangements or understandings between Mr. Boyan and any other persons pursuant to which Mr. Boyan was selected as Chief Financial Officer. Mr. Boyan has no family relationship with any other director or executive officer of the Registrant, nor with any person nominated or chosen to serve as a director or executive officer of the Registrant. Mr. Boyan is not a director of any company with a class of securities registered pursuant to section 12, of the Securities Exchange Act of 1934, as amended (the “Act”), subject to the requirements of section 15(d) of the Act, or of any company under the Investment Company Act of 1940.

There are no “related party transactions” between Mr. Boyan and the Company or the Bank that require disclosure.

There are no material plans, contracts or other arrangements (or amendments thereto) to which Mr. Boyan is a party, or in which he participates, that was entered or amended, in connection with Mr. Boyan being appointed as chief financial officer of the Registrant.

The Registrant is not party to an employment agreement at this time with Mr. Boyan.

Item 9.01             Financial Statements and Exhibits

(d) Exhibits

Exhibit 99.1 Press release issued by Registrant on March 26, 2021

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

	UNITY BANCORP, INC.
	(Registrant)
Date: March 29, 2021
	By:	/s/ James A. Hughes
		James A. Hughes
		President and Chief Executive Officer

EXHIBIT INDEX

EXHIBIT #	DESCRIPTION
99.1	Press release issued by Registrant on March 26, 2021

EX-99.1

Exhibit 99.1

Unity Bancorp, Inc.

64 Old Highway 22

Clinton, NJ 08809

800 618-BANK

www.unitybank.com

NewsNewsNewsNews

For Immediate Release

Unity Bank Names Industry Veteran George Boyan Chief Financial Officer

Clinton, N.J. (March 26, 2021) – Banking industry veteran George Boyan has joined Unity Bank as Chief Financial Officer (CFO) bringing more than 20 years of financial services industry leadership experience to the community bank. Boyan is responsible for financial and accounting operations for Unity Bancorp, Inc. (NASDAQ: UNTY), the parent company of Unity Bank, which manages approximately $2 billion in assets and $1.6 billion in deposits.

Boyan, a Harding resident, had served as First Senior Vice President, Treasurer & Controller with Bank Leumi USA since January 2014. He also served as President of Leumi Investment Services, since October 2018.

“George has an impressive background in financial management and will play an important role in our continued growth,” said Unity Bank President & CEO James A. Hughes. “He brings a vital perspective to our leadership team as a financial services manager. George takes on the important role of leading the development of financial policies and overseeing all financial functions including accounting, budgeting, insurance, tax, and treasury.”

Prior to Leumi, Boyan worked with Goldman Sachs and MetLife. He also worked with the late New Jersey Rep. Marge Roukema, supporting the congresswoman’s work with the U.S. House of Representatives Financial Services Committee. He earned a Master’s in Accounting from Rutgers University Business School, Juris Doctor from Rutgers School of Law and B.S. in Finance & Political Science from Rutgers.

“I am delighted to join the Unity Bank team and look forward to partnering with all of its stakeholders,” said Boyan. “Together, we will pursue the continued expansion of the financial products and services offered to the bank’s customers while optimizing our shareholders' return on investment. Unity's customer relationships are central to its mission of ‘Growing with You’ and, as we help our customers realize their financial dreams, we also fuel the next stage of growth for the bank.”

About Unity Bancorp, Inc.

Unity Bancorp, Inc. (NASDAQ: UNTY), the parent company of Unity Bank, its primary and wholly owned subsidiary, is a financial services organization headquartered in Clinton, New Jersey. Unity Bank provides financial services to businesses and consumers at 19 branches throughout New Jersey and the Lehigh Valley, Pennsylvania. Unity Bank provides community-oriented commercial banking services, including deposit accounts, loans, online and mobile services. For more information, please visit unitybank.com or call 800-618-BANK (800-618-2265).

MEDIA CONTACT:

Fred Feiner

Yankee Public Relations

(908) 425-4878

fred@yankeepr.com

XML

Document and Entity Information	Mar. 29, 2021
Document and Entity Information [Abstract]
Document Type	8-K
Document Period End Date	Mar. 29, 2021
Entity File Number	1-12431
Entity Registrant Name	UNITY BANCORP, INC.
Entity Incorporation, State or Country Code	NJ
Entity Tax Identification Number	22-3282551
Entity Address, Address Line One	64 Old Highway 22
Entity Address, City or Town	Clinton
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08809
City Area Code	908
Local Phone Number	730-7630
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common stock
Trading Symbol	UNTY
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Entity Central Index Key	0000920427
Amendment Flag	false