8-K - UNTY - Equibles

Item 8.01 Other Events

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

May 12, 2022

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)

( 800 ) 618-2265

(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 May 9, 2022, Unity Bank (“Unity”), the Registrant’s wholly owned subsidiary, announced that industry veteran Jim Donovan will be joining the Company as Senior Vice President and Chief Lending Officer, effective May 9, 2022.

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


Name and Position	Age	Principal Occupation for the Past Five Years	Officer Since	Term Expires
James (“Jim”) Donovan<br><br>Senior Vice President<br><br>and Chief Lending Officer	58	Senior Vice President at Bryn Mawr Trust, Bryn Mawr, PA	N/A	N/A (1)

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

There are no arrangements or understandings between Mr. Donovan and any other persons pursuant to which Mr. Donovan was selected as Chief Lending Officer. Mr. Donovan 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. Donovan 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. Donovan and the Company or the Bank that require disclosure.

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

The registrant is not party to an employment agreement at this time with Mr. Donovan.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits



Exhibit 99.1	Press release issued by the Registrant on May 9, 2022

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: May 12, 2022
	By:	/s/ George Boyan
		George Boyan
		Executive Vice President and Chief Financial Officer

Exhibit 99.1

Unity Bancorp, Inc.

64 Old Highway 22

Clinton, NJ 08809

800 618-BANK

www.unitybank.com

News

For Immediate Release:

Unity Bank Names Industry Veteran Jim Donovan Chief Lending Officer

CLINTON, N.J. (May 9, 2022) – Banking industry veteran Jim Donovan has joined Unity Bank as Chief Lending Officer (CLO), bringing more than 35 years of financial services industry leadership experience to the community bank.

“Jim Donovan is an accomplished leader with a commitment to banking excellence and we are pleased to have him join our management team,” said Unity Bank President & CEO James A. Hughes. “He has an impressive background guiding and developing teams and achieving measurable goals, which will be valuable as our small business lending program continues to grow. We look forward to Jim’s future success with Unity.”

Donovan previously served as a Senior Vice President with Bryn Mawr Trust and a Group Vice President with M&T Bank. He started his banking career as a Credit Analyst with Corestates Bank and also served as Vice President and Commercial Relationship Manager with Meridian Bank. Donovan earned a Master of Business Administration from St. Joseph's University and a Bachelor’s in Accounting from Shippensburg University of Pennsylvania.

“I am thrilled and honored to join Unity Bank’s team,” said Donovan. “I look forward to leading the bank’s lending team in partnership with management to provide outstanding commercial banking services to small businesses and companies of all sizes. We will build on Unity’s strong history of success in business banking and continue to drive growth and sustainability for our investors, employees, customers and communities.”

Donovan and his wife MaryEllen live in Newton Square, Pa. and they have six adult children. He has been very active in the local community serving as a Schuylkill Chamber of Commerce Board Past President; Eagle Foundation Board Member; Big Brothers Big Sisters of Harrisburg Board Member; Junior Achievement of South Central PA Treasurer; and United Way of Schuylkill County Board Member.

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