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James A. Hughes

President and Chief Executive Officer (CEO) at UNITY BANCORP INC /NJ/
Board
Since 2002
Age
66 years
Education
Earned a Bachelor's degree in Accounting from Mount St. Mary's College and a Master's degree in Business Administration from Seton Hall University.
Tenure
Serves as President and CEO at Unity Bancorp, Inc. with a leadership focus on dividend increases and disciplined capital management, although the specific tenure details remain undisclosed.

Also at UNITY BANCORP INC /NJ/

DS
Daniel Sharabba
Senior Vice President and Chief Retail Officer
GB
George Boyan
Chief Financial Officer and Executive Vice President
JD
James Donovan
Chief Lending Officer and First Senior Vice President

About

James A. Hughes is the President and Chief Executive Officer (CEO) of Unity Bancorp, Inc., where he plays a pivotal role in shaping corporate strategy and financial policies, including dividend increases and share repurchase programs.

In his role, he has overseen critical aspects of the company's financial reporting and regulatory compliance, including signing certifications under the Sarbanes-Oxley Act, which underscores his commitment to transparent and prudent financial management.

Complementing his professional credentials, he earned academic degrees in Accounting and Business Administration from reputable institutions, further supporting his expertise in financial leadership.

While the documents do not provide detailed information on his specific tenure dates or personal background, his executive contributions have been significant in steering Unity Bancorp's strategic and growth initiatives.

$UNTY Performance Under James A. Hughes

Fixed Compensation

Data from  FY 2024
Component NameAmount ($)Payment ScheduleAdditional Details
Salary764,400 Annually Base salary for 2024 with a 4.00% increase from 2023
Stock Awards497,340 Vest annually over 4 equal installments starting on the first anniversary of the grant date 18,000 restricted stock units at a grant date fair value of $27.63 per share
All Other Compensation1,382,895 Annually Comprises SERP/EIRP Contributions: $1,037,967, Interest Accrued: $313,586, and Other Compensation: $31,342

Performance Compensation

Data from  FY 2024

Performance Metrics

MetricWeightThresholdTargetCap2024 PerformancePayout Factor
PPNR ROAA vs. Peers25% 50% 100% 150% 242.72% 150%
PPNR ROAE vs. Peers25% 50% 100% 150% 223.66% 150%

Incentive Awards Details

ComponentAmount ($)Details
Target Annual Incentive Award535,080 2024 target incentive award
Actual Annual Incentive Award655,473 Achieved 122.50% of the target

Grant Details

Grant DateFair Value ($)Stock Price ($)Vesting Schedule
March 8, 2024 497,340 27.63 Restricted stock awards vest annually in four equal installments starting on the first anniversary of the grant date, subject to continued employment

Evaluation Period: Fiscal Year 2024