UNITY BANCORP INC /NJ/ 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities: (a) Market Information The Company’s Common Stock is quoted on the NASDAQ Global Market under the symbol “UNTY.” The Company declared cash dividends of $0.13 per share in each of the first, second, third and fourth quarters of 2024. The declaration and payment of future dividends to holders of the Company’s common stock is at the discretion of our Board and 24 Table of Contents depends upon many factors, including our financial condition, earnings, capital requirements, legal requirements, regulatory constraints and other factors that our Board deems relevant. ​ (b) Repurchase Plan On August 1, 2024 the Board authorized a repurchase plan permitting the repurchase of up to 500 thousand shares, or approximately 5.0% of the Company’s outstanding common stock, in addition to the previously approved repurchase plan authorizing the repurchase of up to 500 thousand shares of common stock. A total of 229 thousand shares were repurchased at an average price of $27.05 during 2024, all of which were repurchased under the prior repurchase plan, leaving 685 thousand shares available for repurchase as of December 31, 2024. A total of 656 thousand shares were repurchased at an average price of $23.69 during 2023, leaving 414 thousand shares available for repurchase as of December 31, 2023. The timing and amount of additional purchases, if any, will depend upon several factors including the Company’s capital needs, the Company’s liquidity position, the performance of its loan portfolio, the need for additional provisions for credit losses and the market price of the Company’s stock. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Maximum ​ ​ ​ ​ ​ ​ ​ Total Number of ​ Number of ​ ​ Total ​ ​ ​ ​ Shares Purchased ​ Shares that May ​ ​ Number of ​ ​ Weighted ​ as Part of Publicly ​ Yet be Purchased ​ ​ Shares ​ Average Price ​ Announced Plans ​ Under the Plans Period ​ Purchased ​ Paid per Share ​ or Programs ​ or Programs January 1, 2024 through January 31, 2024 ​ - ​ $ - ​ - ​ 413,747 February 1, 2024 through February 29, 2024 ​ 28,709 ​ ​ 26.91 ​ 28,709 ​ 385,038 March 1, 2024 through March 31, 2024 ​ 121,288 ​ ​ 27.23 ​ 121,288 ​ 263,750 April 1, 2024 through April 30, 2024 ​ 4,190 ​ ​ 26.73 ​ 4,190 ​ 259,560 May 1, 2024 through May 31, 2024 ​ 35,100 ​ ​ 26.99 ​ 35,100 ​ 224,460 June 1, 2024 through June 30, 2024 ​ 29,481 ​ ​ 26.51 ​ 29,481 ​ 194,979 July 1, 2024 through July 31, 2024 ​ 10,334 ​ ​ 27.27 ​ 10,334 ​ 184,645 August 1, 2024 through August 31, 2024 ​ - ​ ​ - ​ - ​ 684,645 September 1, 2024 through September 30, 2024 ​ - ​ ​ - ​ - ​ 684,645 October 1, 2024 through October 31, 2024 ​ - ​ ​ - ​ - ​ 684,645 November 1, 2024 through November 30, 2024 ​ - ​ ​ - ​ - ​ 684,645 December 1, 2024 through December 31, 2024 ​ - ​ ​ - ​ - ​ 684,645 ​ ​ ​ ​ ​ ​ The above table excludes stock repurchase excise taxes accrued or paid. ​ Item 6. Reserved: N/A