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    James A. Hughes

    President and Chief Executive Officer (CEO) at Unity Bancorp Inc
    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

    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