Form 4: Patriot National Bancorp Director Van den Bol Receives Stock Grant

Director Emile Van den Bol of Patriot National Bancorp received a grant of 3,846 shares of common stock on May 6, 2024, vesting annually over four years.

Summary

• Emile Van den Bol, a director of Patriot National Bancorp, received a grant of 3,846 shares of common stock on May 6, 2024.
• The shares were granted under the Issuer's 2020 Stock Plan.
• The shares will vest annually in equal installments over four years.
• Specifically, 961 shares will vest on December 31, 2024, 961 shares on December 31, 2025, 962 shares on December 31, 2026, and 962 shares on December 31, 2027.
• Following the transaction, Van den Bol beneficially owns 68,933 shares of Patriot National Bancorp.

Sentiment

Score: 7

Explanation: The document reflects a routine stock grant to a director, which is generally viewed as a neutral to slightly positive event as it aligns management interests with shareholders.

Positives

• The stock grant aligns the director's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the director.

Future Outlook

The document does not contain any specific forward-looking statements or guidance.

Industry Context

Stock grants to directors are a common practice in the banking industry to incentivize performance and align management's interests with shareholders.

Comparison to Industry Standards

• Stock grants to directors are a common practice across the financial industry.
• Comparable companies such as Bankwell Financial Group and Salisbury Bancorp also utilize stock grants as part of their director compensation packages.
• The size and vesting schedule of the grant are generally in line with industry standards for companies of similar size and market capitalization.

Stakeholder Impact

• The stock grant could have a minor positive impact on shareholder sentiment.
• The vesting schedule incentivizes the director to contribute to the long-term success of the company.

Key Dates

Keywords

Patriot National Bancorp, Van den Bol, stock grant, director, PNBK, beneficial ownership, vesting