Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
Each company listed discloses UNTY in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named UNTY in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| James Hughes | $825,000 | $0 | $573,580 | $0 | $707,438 | $0 | $597,870 | $2,703,888 |
| President and Chief Executive Officer | ||||||||
| George Boyan | 550,000 | 2,000 | 389,215 | 0 | 336,875 | 0 | 121,714 | 1,399,804 |
| Executive Vice President and Chief Financial Officer | ||||||||
| Vincent Geraci | 491,890 | 107,854 | 144,120 | 0 | 0 | 0 | 44,397 | 788,261 |
| First Senior Vice President and Director of Mortgage Lending | ||||||||
| James Donovan | 342,027 | 62,000 | 76,864 | 0 | 0 | 0 | 43,216 | 524,107 |
| First Senior Vice President and Chief Lending Officer | ||||||||
| Daniel Sharabba | 296,370 | 52,000 | 84,070 | 0 | 0 | 0 | 39,464 | 471,905 |
| Senior Vice President and Chief Retail Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| James Hughes | $2,703,888 | — | $2,360,462 | — |
| George Boyan | 1,399,804 | 1,185,212 | 934,171 | +214,592 |
| Vincent Geraci | 788,261 | 625,769 | 599,188 | +162,492 |
| James Donovan | 524,107 | 496,541 | 374,968 | +27,566 |
| Daniel Sharabba | 471,905 | 409,844 | 168,910 | +62,061 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| James Hughes | RSA | 2025-03-11 | — | — | 14,000 | — | $573,580 |
| George Boyan | RSA | 2025-03-11 | — | — | 9,500 | — | 389,215 |
Grant-level vehicle detail not disclosed.
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| James Donovan | PSU | 500 | — | $25,860 |
| George Boyan | PSU | 9,500 | — | 491,340 |
| George Boyan | PSU | 9,000 | — | 465,480 |
| James Hughes | PSU | 4,500 | — | 232,740 |
| James Hughes | PSU | 14,000 | — | 724,080 |
| James Donovan | PSU | 1,600 | — | 82,752 |
| Vincent Geraci | PSU | 750 | — | 38,790 |
| Vincent Geraci | PSU | 3,000 | — | 155,160 |
| James Hughes | PSU | 9,000 | — | 465,480 |
| James Hughes | PSU | 13,500 | — | 698,220 |
| George Boyan | PSU | 5,500 | — | 284,460 |
| George Boyan | PSU | 3,000 | — | 155,160 |
| Daniel Sharabba | PSU | 1,500 | — | 77,580 |
| James Donovan | PSU | 1,875 | — | 96,975 |
| Daniel Sharabba | PSU | 1,750 | — | 90,510 |
| Daniel Sharabba | PSU | 500 | — | 25,860 |
| James Donovan | PSU | 250 | — | 12,930 |
The HR/Compensation Committee, the Company, and senior management are committed to a pay-for-performance philosophy. Compensation is designed to align executive interests with shareholders by ensuring NEOs maintain significant equity interest through restricted stock grants, creating balanced incentives that do not encourage excessive risk-taking, providing market-competitive packages to attract and retain qualified executives, and rewarding individuals of greatest responsibility and achievement within an internally equitable framework.
| CEO STI target (% of salary) | 70% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | not disclosed |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | false |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2024 | 2024-04-25 | 7,348,406 | 317,636 | 255,240 | 95.86% | Passed |
| 2021 | 2021-05-13 | 6,427,488 | 1,490,610 | 228,271 | 81.17% | Passed |
| 2018 | 2018-04-26 | 7,367,345 | 646,238 | 221,218 | 91.94% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2024 | 2024-04-25 | 95.86%a |
| 2021 | 2021-05-13 | 81.17%b |
| 2018 | 2018-04-26 | 91.94%c |
a. Approved under the standard stated in the filing — “However, any shares not voted as a result of a marked abstention or a broker non-vote will not be counted as votes for or against a particular matter.”.
b. Approved under the standard stated in the filing — “However, any shares not voted as a result of a marked abstention or a broker non-vote will not be counted as votes for or against a particular matter.”.
c. Approved under the standard stated in the filing — “However, any shares not voted as a result of a marked abstention or a broker non-vote will not be counted as votes for or against a particular matter.”.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Ratio (CEO : median employee) | 37 : 1 |
|---|---|
| CEO total compensation | $2,703,888 |
| Median employee compensation | $73,228 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Donald E. Souders JrNot independent · Departed during FY | $900 | — | $0 | — | $278,190 | $279,090 |
| Donald E. Souders, JrNot independent · Departed during FY | 900 | — | — | 0 | 278,190 | 279,090 |
| David D. DallasIndependent · Board Chair · Audit & Risk · Executive Loan · ALCO | 24,000 | 76,864 | 0 | — | 40,000 | 140,864 |
| Wayne CourtrightIndependent · Audit & Risk · Executive Loan · ALCO | 26,200 | 76,864 | 0 | — | 37,000 | 140,064 |
| Peter E. MaricondoIndependent · Audit & Risk (Chair) · Human Resource/Compensation · ALCO | 19,300 | 76,864 | 0 | — | 37,000 | 133,164 |
| Mark S. BrodyIndependent · Audit & Risk · Human Resource/Compensation (Chair) · ALCO | 18,300 | 76,864 | 0 | — | 37,000 | 132,164 |
| Raj PatelIndependent · Corporate Governance and Nominating · Human Resource/Compensation · Executive Loan · ALCO | 22,300 | 76,864 | 0 | — | 32,000 | 131,164 |
| Robert H. Dallas IIIndependent · Corporate Governance and Nominating · Executive Loan · ALCO | 21,800 | 76,864 | 0 | — | 32,000 | 130,664 |
| Robert H. Dallas, IIIndependent · Corporate Governance & Nominating · Executive Loan · ALCO | 21,800 | 76,864 | — | 0 | 32,000 | 130,664 |
| Mary E. GrossIndependent · Audit & Risk · Corporate Governance and Nominating · Human Resource/Compensation · ALCO | 16,700 | 76,864 | 0 | — | 37,000 | 130,564 |
| Aaron TuckerIndependent · Corporate Governance and Nominating (Chair) · Executive Loan · ALCO | 21,300 | 76,864 | 0 | — | 32,000 | 130,164 |
| George BoyanEmployee director · Executive Loan · ALCO · Partial-year service · Newly elected | 0 | 0 | 0 | — | 0 | 0 |
| James A. HughesEmployee director · Executive Loan · ALCO | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $38,000 |
|---|---|
| Annual equity retainer | $76,864 |
| Per board meeting fee | $900 |
| Committee chair fees (audit / comp / nom-gov) | 12,000 / 12,000 / 12,000 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $193,500 |
| Equity awards (grant-date value) | $691,776 |
| All other compensation | $872,380 |
| Total cost of the board | $1,757,656 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies Unity Bancorp Inc names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.
Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Unity Bancorp Inc.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Metropolitan Commercial Bank | 2025 | Mark DeFazio | $1,000,000 | $2,549,972 | $0 | $1,200,000 | $4,784,685 |
| 2 | ConnectOne Bank | 2025 | Frank Sorrentino III | 992,000 | 1,674,001 | 0 | 1,272,240 | 4,399,936 |
| 3 | Peapack Private Bank & Trust | 2025 | Douglas Kennedy | 936,000 | 863,540 | 0 | 1,205,341 | 3,479,531 |
| 4 | OceanFirst Bank | 2025 | Christopher Maher | 995,000 | 1,036,159 | 0 | 890,746 | 3,124,340 |
| 5 | Unity Bancorp Inc | 2025 | James Hughes | 825,000 | 573,580 | 0 | 707,438 | 2,703,888 |
| 6 | Univest Bank and Trust Co. | 2025 | Jeffrey Schweitzer | 830,000 | 539,533 | 0 | 663,234 | 2,097,674 |
| 7 | NorthEast Community Bank | 2025 | Kenneth Martinek | 670,000 | 0 | 0 | 463,213 | 1,259,679 |
| 8 | QNB Bank | 2025 | David Freeman | 675,000 | 0 | 0 | 162,000 | 925,072 |
| 9 | BCB Community Bank | 2025 | Michael Shriner | 675,000 | 0 | 50,625 | 0 | 772,063 |
| — | First Keystone Community Bank | — | — | — | — | — | — | not in coverage universe |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Unity Bancorp Inc | 122.5% | Restricted Stock 100 | not disclosed | not disclosed |
| BCB Community Bank | not disclosed | Options 100 | not disclosed | Meridian Compensation Partners |
| ConnectOne Bank | 135% | PSU 55 · RSU 45 | No | Meridian Compensation Partners, LLC |
| First Keystone Community Bank | not disclosed | not disclosed | not disclosed | not disclosed |
| Metropolitan Commercial Bank | not disclosed | not disclosed | No | Frederic W. Cook & Co., Inc. |
| NorthEast Community Bank | not disclosed | not disclosed | not disclosed | not disclosed |
| OceanFirst Bank | 115% | RSU 50 · PSU 50 | Yes — Relative 3-year Total Shareholder Return (TSR) | Meridian Compensation Partners, LLC |
| Peapack Private Bank & Trust | 120% | RSU 100 | Yes — TSR | Aon |
| QNB Bank | not disclosed | Option 100 | not disclosed | not disclosed |
| Univest Bank and Trust Co. | 122.9% | PSU 70 · RSU 30 | No | Aon plc |
Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, James Hughes | DEF 14A | — | — | Section “Executive Compensation”. As printed: 2,703,888. |
| 2 | Section 01, George Boyan | DEF 14A | — | — | Section “Executive Compensation”. As printed: 1,399,804. |
| 3 | Section 01, Vincent Geraci | DEF 14A | — | — | Section “Executive Compensation”. As printed: 788,261. |
| 4 | Section 01, James Donovan | DEF 14A | — | — | Section “Executive Compensation”. As printed: 524,107. |
| 5 | Section 01, Daniel Sharabba | DEF 14A | — | — | Section “Executive Compensation”. As printed: 471,905. |
| 6 | Section 03, James Hughes RSA | DEF 14A | 2026-03-06 | 0000920427-26-000020 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t116 · r9 · c9 · span 790076–790083 |
| 7 | Section 03, George Boyan RSA | DEF 14A | 2026-03-06 | 0000920427-26-000020 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t116 · r11 · c9 · span 796182–796189 |
| 8 | Section 07, pay ratio | DEF 14A | 2026-03-06 | 0000920427-26-000020 | Section “CEO Pay Ratio”. As printed: 37 : 1. Filing ↗machine: span 1056664–1056673 |
| 9 | Section 08, Donald E. Souders Jr | DEF 14A | 2026-03-06 | 0000920427-26-000020 | Section “Director Compensation”. As printed: 279,090. Filing ↗machine: t140 · r10 · c4 · span 1164725–1164732 |
| 10 | Section 08, Donald E. Souders, Jr | DEF 14A | 2026-03-06 | 0000920427-26-000020 | Section “Director Compensation”. As printed: 279,090. Filing ↗machine: t140 · r10 · c4 · span 1164725–1164732 |
| 11 | Section 08, David D. Dallas | DEF 14A | 2026-03-06 | 0000920427-26-000020 | Section “Director Compensation”. As printed: 140,864. Filing ↗machine: t140 · r5 · c4 · span 1157190–1157197 |
| 12 | Section 08, Wayne Courtright | DEF 14A | 2026-03-06 | 0000920427-26-000020 | Section “Director Compensation”. As printed: 140,064. Filing ↗machine: t140 · r4 · c4 · span 1155766–1155773 |
| 13 | Section 08, Peter E. Maricondo | DEF 14A | 2026-03-06 | 0000920427-26-000020 | Section “Director Compensation”. As printed: 133,164. Filing ↗machine: t140 · r8 · c4 · span 1161658–1161665 |
| 14 | Section 08, Mark S. Brody | DEF 14A | 2026-03-06 | 0000920427-26-000020 | Section “Director Compensation”. As printed: 132,164. Filing ↗machine: t140 · r3 · c4 · span 1154246–1154253 |
| 15 | Section 08, Raj Patel | DEF 14A | 2026-03-06 | 0000920427-26-000020 | Section “Director Compensation”. As printed: 131,164. Filing ↗machine: t140 · r9 · c4 · span 1163076–1163083 |
| 16 | Section 08, Robert H. Dallas II | DEF 14A | 2026-03-06 | 0000920427-26-000020 | Section “Director Compensation”. As printed: 130,664. Filing ↗machine: t140 · r6 · c4 · span 1158714–1158721 |
| 17 | Section 08, Robert H. Dallas, II | DEF 14A | 2026-03-06 | 0000920427-26-000020 | Section “Director Compensation”. As printed: 130,664. Filing ↗machine: t140 · r6 · c4 · span 1158714–1158721 |
| 18 | Section 08, Mary E. Gross | DEF 14A | 2026-03-06 | 0000920427-26-000020 | Section “Director Compensation”. As printed: 130,564. Filing ↗machine: t140 · r7 · c4 · span 1160136–1160143 |
| 19 | Section 08, Aaron Tucker | DEF 14A | 2026-03-06 | 0000920427-26-000020 | Section “Director Compensation”. As printed: 130,164. Filing ↗machine: t140 · r11 · c4 · span 1166146–1166153 |
| 20 | Section 08, George Boyan | DEF 14A | 2026-03-06 | 0000920427-26-000020 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 21 | Section 08, James A. Hughes | DEF 14A | 2026-03-06 | 0000920427-26-000020 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 22 | Section 06, 2024 vote | Form 8-K | 2024-04-25 | 0000920427-24-000034 | Item 5.07 · say-on-pay result. As reported: 95.86% (votes for as printed: 7,348,406). Filing ↗ |
| 23 | Section 06, 2021 vote | Form 8-K | 2021-05-13 | 0000920427-21-000027 | Item 5.07 · say-on-pay result. As reported: 81.17%. Filing ↗ |
| 24 | Section 06, 2018 vote | Form 8-K | 2018-04-26 | 0000920427-18-000064 | Item 5.07 · say-on-pay result. As reported: 91.94%. Filing ↗ |
| 25 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 26 | Section 09b board cost (computed) | Computed | — | computed | Cash 193,500 + equity 691,776 + all other 872,380 = 1,757,656, summed across the director compensation table rows.machine: formula: Σ = 1,757,656 |
| 27 | Metropolitan Commercial Bank, Section 10b CEO total | DEF 14A | 2026-03-20 | 0001104659-26-032365 | CEO total compensation as printed in Metropolitan Commercial Bank's own proxy. As printed: 4,784,685. Filing ↗machine: r1 · c36 · span 1579768–1579777 |
| 28 | ConnectOne Bank, Section 10b CEO total | DEF 14A | 2026-04-09 | 0001437749-26-011892 | CEO total compensation as printed in ConnectOne Bank's own proxy. As printed: 4,399,936. Filing ↗ |
| 29 | Peapack Private Bank & Trust, Section 10b CEO total | DEF 14A | 2026-03-16 | 0001193125-26-108191 | CEO total compensation as printed in Peapack Private Bank & Trust's own proxy. As printed: 3,479,531. Filing ↗machine: span 1034121–1034130 |
| 30 | OceanFirst Bank, Section 10b CEO total | DEF 14A | 2026-04-27 | 0001308179-26-000348 | CEO total compensation as printed in OceanFirst Bank's own proxy. As printed: 3,124,340. Filing ↗machine: t92 · r2 · c16 · span 561664–561673 |
| 31 | Unity Bancorp Inc (subject), Section 10b CEO total | DEF 14A | — | — | CEO total compensation as printed in Unity Bancorp Inc's own proxy. As printed: 2,703,888. |
| 32 | Univest Bank and Trust Co., Section 10b CEO total | DEF 14A | 2026-03-13 | 0000102212-26-000015 | CEO total compensation as printed in Univest Bank and Trust Co.'s own proxy. As printed: 2,097,674. Filing ↗machine: r2 · c51 · span 398636–398645 |
| 33 | NorthEast Community Bank, Section 10b CEO total | DEF 14A | 2026-04-10 | 0001104659-26-041983 | CEO total compensation as printed in NorthEast Community Bank's own proxy. As printed: 1,259,679. Filing ↗machine: r1 · c30 · span 210214–210223 |
| 34 | QNB Bank, Section 10b CEO total | DEF 14A | 2026-04-30 | 0001193125-26-194037 | CEO total compensation as printed in QNB Bank's own proxy. As printed: 925,072. Filing ↗machine: r4 · c33 · span 615678–615685 |
| 35 | BCB Community Bank, Section 10b CEO total | DEF 14A | 2026-03-24 | 0001174947-26-000413 | CEO total compensation as printed in BCB Community Bank's own proxy. As printed: 772,063. Filing ↗machine: t128 · r1 · c7 · span 422363–422370 |
| 36 | Section 10a, Peapack Private Bank & Trust reciprocity | DEF 14A | — | 0001193125-26-108191 | Peapack Private Bank & Trust's most recent proxy was read; its disclosed peer group does not include Unity Bancorp Inc. Filing ↗ |
| 37 | Section 10a, Metropolitan Commercial Bank reciprocity | DEF 14A | — | 0001104659-26-032365 | Metropolitan Commercial Bank's most recent proxy was read; its disclosed peer group does not include Unity Bancorp Inc. Filing ↗ |
| 38 | Section 10a, QNB Bank reciprocity | DEF 14A | — | 0001193125-26-194037 | QNB Bank names Unity Bancorp Inc in its own disclosed peer group (read from its most recent proxy). Filing ↗ |