RAJ PATEL - Corporate Board Profile

UNITY BANCORP INC /NJ/

Filing Date	Source Excerpt
2011-03-18	Raj Patel, 55 Director President/CEO of Raja Group; CEO of Millennium Hospitality; Founder and Board Member of Rainbow Investment Group, and Founder Rainbow Distribution Group. 2007 2012 Director compensation table shows Raj Patel received total $26,160.
2012-03-27	Raj Patel, 57 Director President/CEO of Raja Group, a distributor for convenience stores; CEO of Millennium Hospitality; Founder and Board Member of Rainbow Investment Group, and Founder Rainbow Distribution Group. 2007 2015...DIRECTOR COMPENSATION Name Fees Earned or Paid in Cash ($) Stock Awards ($) Option Awards ($) All Other Compensation ($) Total ($) Raj Patel (8) 16,200 12,800 - 5,000 34,000
2013-03-25	Raj Patel, 58 President/CEO of Raja Group, a distributor for convenience stores; Director since 2007; Term expires 2015; Director; Director compensation total $34,680.
2015-03-17	Raj Patel has been a Director of the Company since 2008 and a Director of the Bank since 2007. Mr. Patel is currently serving as the President and CEO of the Raja Group, a real estate holding company and CEO of Millennium Hospitality. Director compensation table shows Raj Patel total compensation as $45,668.
2016-03-04	Raj Patel, 61 President/CEO of Raja Group; Director; Audit Committee member; Director compensation total $47,368.
2018-03-12	Raj Patel: Raj Patel has been a Director of the Company since 2008 and a Director of the Bank since 2007. Mr. Patel is currently serving as the President and CEO of the Raja Group, a real estate holding company and CEO of Millennium Hospitality. The following table shows Raj Patel's director compensation: Fees Earned or Paid in Cash ($) 17,900; Stock Awards ($) 18,840; Option Awards ($) 6,796; All Other Compensation ($) 12,000; Total ($) 55,536.
2019-03-13	Raj Patel, 64 CEO of Millennium Hotel Group Director Since 2007 Term Expires 2021 Director Raj Patel is member of Audit and Human Resources/Compensation committees. Director Compensation table shows Raj Patel total compensation as $79,795.
2021-03-30	Raj Patel has been a Director of the Company since 2008 and a Director of the Bank since 2007. Mr. Patel is currently serving as CEO of Millennium Hotel Group (Hotel), CEO of 2602 Deerfield LLC (Real Estate), and partial owner of the Bergen County Medical Adult Day Care Center (Healthcare). Mr. Patel holds a Bachelor’s degree in Engineering from SP University in India. Mr. Patel is a licensed NJ Realtor and prominent businessman in NJ and has many contacts to generate new business for the Company. Directors of the Company do not receive per meeting fees for their service on the Company’s Board of Directors. Compensation for service on the Bank’s Board of Directors for 2020 was in the form of cash compensation consisting of an annual retainer, meeting and committee fees; as well as, equity compensation in the form of restricted stock and stock option awards. Members of the Bank’s Board of Directors received an $18,000 retainer for service on the Board of Directors in 2020 which was paid in 2021. The Chairman of each Board Committee received an additional $3,000 retainer, while the Chairman of the Board received an additional $6,000. Directors also receive $700 for attendance at each Bank Board of Directors’ meeting, and between $300 and $700 for attendance at each Bank Committee meeting. The Chairman of the Board and the Chairman of each individual Committee receive an additional $200 per meeting. The Directors are eligible to participate in the Company’s stock bonus and stock option plans. On January 2, 2020, the Company’s non-employee Directors were each granted nonqualified stock options at a Black-Scholes fair value of $6.40, which vests in 33% increments over three (3) years commencing January 2, 2021. Raj Patel received $19,700 in cash fees, $42,256 in option awards, and $16,000 in other compensation totaling $77,956.
2022-03-15	Raj Patel, 67Director CEO of Millennium Hotel Group (Hotel);CEO of 2602 Deerfield LLC (Real Estate) 2007 2024...The following table represents the membership on each committee as of the date of this Proxy statement:...Raj Patel Member Audit Committee...Member Compensation Committee...Member Nominating Committee...Director Compensation...Raj Patel $18,400 Paid in Cash, $17,550 Stock Awards, $26,978 Option Awards, $18,000 All Other Compensation, Total $80,928.
2023-03-14	Raj Patel has been a Director of the Company since 2008 and a Director of the Bank since 2007. Mr. Patel is currently serving as CEO of Millennium Hotel Group (Hotel), CEO of 2602 Deerfield LLC (Real Estate), and partial owner of the Bergen County Medical Adult Day Care Center (Healthcare). Mr. Patel holds a Bachelor’s degree in Engineering from SP University in India. Mr. Patel is a licensed NJ Realtor and prominent businessman in NJ and has many contacts to generate new business for the Company. Members of the Bank’s Board of Directors received a $22,000 retainer for service on the Board of Directors in 2022 which was paid in 2023. The Chairman of each Board Committee received an additional $3,000 retainer, while the Chairman of the Board received an additional $6,000. Directors also receive $900 for attendance at each Bank Board of Directors’ meeting, and between $500 and $900 for attendance at each Bank Committee meeting. The Chairman of the Board and the Chairman of each individual Committee receive an additional $200 per meeting. Raj Patel received $20,400 in fees earned or paid in cash and $52,500 in stock awards for 2022.
2024-03-11	Raj Patel, 69 Director CEO of Millennium Hotel Group (Hotel); CEO of 2602 Deerfield LLC (Real Estate) 2007 2027; Committees: Human Resources/Compensation (Member), Executive Loan (Member), Risk Management (Member); Director Compensation: Fees Earned or Paid in Cash $21,700, Stock Awards Compensation $54,660, All Other Compensation $22,000, Total $98,360.
2025-03-10	Raj Patel, 70 Director CEO of Millennium Hotel Group (Hotel); CEO of 2602 Deerfield LLC (Real Estate) 2007 2027 ... Raj Patel 18,900 65,098 27,000 110,998 ... The HR/Compensation Committee consisted of Chairman Dr. Mark S. Brody and Directors Peter E. Maricondo, Raj Patel, and Donald E. Souders, Jr. during the fiscal year ended December 31, 2024. ... The Board of Directors has the following five (5) standing committees: Audit & Risk, Human Resources (HR)/Compensation, Executive Loan, Corporate Governance and Nominating, and Asset Liability Committee (ALCO). ... The following table represents the membership on each committee as of the date of this Proxy statement: ... Human Resources/Compensation: Raj Patel ... Asset Liability Committee (ALCO): Raj Patel