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CURRENT REPORT PURSUANT
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SECURITIES EXCHANGE ACT OF 1934
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Item 5.07 Submission of Matters to a Vote of Security Holders
Clinton, NJ – Unity Bancorp, Inc. (NASDAQ: UNTY), parent company of Unity Bank, held its Annual Meeting of Shareholders on April 25, 2024. A total of 8,897,830 of the Company’s shares were present or represented by proxy at the meeting. The Company’s shareholders took the following actions:
Proposal 1: Election of Directors
The following three directors were nominated to serve for the terms set forth in the Company’s Proxy statement. Results of the election are as follows:
Number of Votes | ||||||
Name | For | Withheld | Non-vote | |||
Dr. Mark S. Brody | 7,249,496 | 671,787 | 976,547 | |||
Raj Patel | 7,826,377 | 94,906 | 976,547 | |||
Donald E. Souders, Jr | 6,906,625 | 1,014,658 | 976,547 | |||
Proposal 2: The Ratification of the selection of Wolf & Company P.C. as the Company’s Independent External Auditors for the year ending December 31, 2024
The Audit Committee has appointed the firm Wolf & Company P.C., to act as our independent registered public accounting firm and to audit our consolidated financial statements for the fiscal year ending December 31, 2024. This appointment will continue at the pleasure of the Audit Committee and was presented to the stockholders for ratification as a matter of good governance. Results of the election are as follows:
Number of Votes | ||||||
For | Against | Abstain | Non-vote | |||
8,865,915 | 30,913 | 1,002 | 976,547 | |||
Proposal 3: The Approval of the Executive Compensation
Under Section 951 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, companies with securities registered with the Securities and Exchange Commission are required to provide shareholders the opportunity to vote on a non-binding advisory proposal, commonly known as Say-on-Pay, to approve the compensation of executives. The Company has decided to implement this requirement by providing shareholders a simple vote that indicated their position with respect to our executive compensation. Results of the election are as follows:
Number of Votes | ||||||
For | Against | Abstain | Non-vote | |||
7,348,406 | 317,636 | 255,240 | 976,547 | |||
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: April 25, 2024 | ||
By: | /s/ George Boyan | |
George Boyan | ||
Executive Vice President and Chief Financial Officer | ||