Unity Bancorp Enhances Severance Terms for Executive
Company Announcements

Unity Bancorp Enhances Severance Terms for Executive

The latest update is out from Unity Bancorp (UNTY).

Unity Bank has updated its agreement with James Donovan, their Chief Lending Officer, guaranteeing him severance benefits if he’s terminated within a year of a company takeover or a significant acquisition. The severance includes a year’s salary, the previous year’s bonus, and continued health benefits, with provisions for stock option vesting. These payouts are capped to avoid excessive golden parachute payments as per tax regulations.

For an in-depth examination of UNTY stock, go to TipRanks’ Stock Analysis page.

Related Articles
TheFlyUnity Bancorp price target raised to $44 from $40 at Piper Sandler
TheFlyUnity Bancorp price target raised to $43 from $39 at Keefe Bruyette
TheFlyUnity Bancorp reports Q3 EPS $1.07, consensus 95c
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App