Form 4: Patriot National Bancorp Director Receives Stock Units

Anahit Magzanyan, a Director at Patriot National Bancorp Inc., received 22,222 Restricted Stock Units that vested and settled on July 1, 2026.

Summary

• Anahit Magzanyan, a Director of Patriot National Bancorp Inc., was granted Restricted Stock Units (RSUs) on July 1, 2025.
• The RSUs, totaling 66,667 shares of Common Stock, vest over three years.
• On July 1, 2026, the first installment of 22,222 RSUs vested and settled.
• The company delivered shares of Common Stock in settlement, with no consideration paid by Magzanyan.
• Following this transaction, Magzanyan beneficially owns 26,512 shares of Common Stock directly.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it reports on standard equity compensation for a director rather than significant financial performance or strategic shifts.

Positives

• Director Anahit Magzanyan received a grant of 66,667 Restricted Stock Units, indicating a form of equity-based compensation.
• The first tranche of 22,222 RSUs vested and settled on July 1, 2026, representing a tangible benefit to the director.
• The settlement of RSUs involved the delivery of Common Stock, which can be viewed positively for shareholder alignment.

Negatives

• The filing details a transaction where a director received equity, which is standard but does not represent new positive financial performance for the company itself.

Risks

• The vesting schedule of the RSUs over three years means that the full benefit is realized over time, with potential for forfeiture if conditions are not met.
• While not explicitly stated as a risk in this filing, the value of the vested shares is subject to market fluctuations of Patriot National Bancorp's stock price.

Future Outlook

The filing indicates a three-year vesting schedule for the granted RSUs, with subsequent installments expected to vest on July 1, 2027 (22,222 shares) and July 1, 2028 (22,223 shares).

Industry Context

StockSavvy.ai notes that the issuance of Restricted Stock Units to directors is a common practice in the financial services industry to align executive interests with shareholder value and incentivize long-term performance.

Related Party Transactions

• Grant and settlement of Restricted Stock Units to Director Anahit Magzanyan.

Stakeholder Impact

• Shareholders: The issuance of stock to management can dilute existing ownership, but also aligns management's interests with long-term shareholder value.
• Employees: This filing does not directly impact general employees, but reflects compensation practices for senior leadership.
• Management: Director Anahit Magzanyan benefits from the vesting of equity awards.

Next Steps

• Vesting of the second installment of 22,222 RSUs on July 1, 2027.
• Vesting of the third installment of 22,223 RSUs on July 1, 2028.

Key Dates

Keywords

Patriot National Bancorp, PNBK, Form 4, SEC Filing, Restricted Stock Units, RSUs, Director Compensation, Equity Grant, Beneficial Ownership, Stock Vesting