Unity Bancorp Updates Deferred Compensation Plan With Variable Interest Rate

Reuters05:07

<a href="https://laohu8.com/S/UNTY">Unity Bancorp</a> Updates Deferred Compensation Plan With Variable Interest Rate

Unity Bancorp Inc. has announced an amendment to its Deferred Compensation Plan for employees. Under the revised terms, when a participant chooses to receive benefits in equal annual installments over ten years instead of a lump sum, interest will now be credited at a variable annual rate. This rate is set at the Prime Rate from the previous anniversary date plus 1.0%, with a minimum rate of 4.0% and a maximum of 10.0%. Previously, the interest rate was fixed at the termination of service. Each annual installment will comprise one-tenth of the deferral account balance as of the participant’s termination, along with accrued and unpaid interest. All other aspects of the original plan remain unchanged.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Unity Bancorp Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000920427-25-000085), on December 18, 2025, and is solely responsible for the information contained therein.

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