Form 4: Patriot National Bancorp Executive Acquires Shares as Part of Compensation Plan

Frederick Staudmyer, Secretary and Chief HR Officer of Patriot National Bancorp, acquired 3,958 shares of common stock on March 18, 2024, as part of a vesting schedule.

Summary

• On March 18, 2024, Frederick Staudmyer, Secretary and Chief HR Officer of Patriot National Bancorp, acquired 3,958 shares of the company's common stock.
• These shares vest annually in equal installments over three years: 1,319 shares on December 31, 2024, 1,319 shares on December 31, 2025, and 1,320 shares on December 31, 2026.
• Following the transaction, Staudmyer directly owns 7,161 shares of Patriot National Bancorp.
• The acquisition was reported on April 19, 2024, via a Form 4 filing with the SEC.

Sentiment

Score: 6

Explanation: The document reflects a routine transaction related to executive compensation, which is generally neutral. The acquisition of shares by an executive can be seen as a slightly positive signal.

Positives

• The acquisition of shares by a company executive can be seen as a positive sign, indicating confidence in the company's future performance.

Industry Context

Executive stock ownership is a common practice in the banking industry to align management's interests with those of shareholders.

Stakeholder Impact

• The transaction could have a minor positive impact on shareholder sentiment due to the executive's increased stake in the company.

Key Dates

Keywords

Patriot National Bancorp, PNBK, Frederick Staudmyer, SEC Form 4, Beneficial Ownership, Stock Acquisition, Vesting Shares, Executive Compensation