Form 4: Patriot National Bancorp Executive Reports Stock Transactions

Angie Miranda, EVP & Chief Risk Officer of Patriot National Bancorp Inc., reported transactions involving restricted stock units and common stock.

Summary

• Angie Miranda, EVP & Chief Risk Officer, reported the vesting and settlement of 150,000 Restricted Stock Units (RSUs) on April 30, 2026.
• These RSUs were granted on April 30, 2025, with vesting in three equal annual installments.
• The settlement of these RSUs resulted in the delivery of 150,000 shares of Common Stock.
• Additionally, 56,718 shares of Common Stock were withheld by the issuer to cover tax obligations, valued at $1.23 per share on April 30, 2026.

Sentiment

Score: 5

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

Positives

• Vesting of 150,000 RSUs indicates continued employee engagement and potential for future value realization.
• The company is meeting its obligations related to employee compensation plans.

Negatives

• Withholding of 56,718 shares for tax purposes represents a dilution of the reporting person's direct ownership and a cash outflow for tax liabilities.
• The transaction price of $1.23 per share for tax withholding suggests a relatively low stock valuation at the time of settlement.

Risks

• Potential for future tax liabilities for executives related to stock-based compensation.
• Market price fluctuations of the company's common stock could impact the net value of vested RSUs and the cost of tax withholding.

Future Outlook

The filing details a past transaction and does not contain forward-looking statements or guidance.

Industry Context

StockSavvy.ai notes that the reporting of stock transactions via Form 4 is standard practice for publicly traded companies and provides transparency into insider activity. The details of RSU vesting and tax withholding are common components of executive compensation packages in the financial services industry.

Stakeholder Impact

• Shareholders: The transaction itself does not directly impact share price, but it reflects the company's compensation structure. The withholding of shares for taxes represents a minor dilution.

Next Steps

• The remaining two installments of RSUs are scheduled to vest on the first two anniversaries of the award date (April 30, 2027, and April 30, 2028), subject to continued employment.

Key Dates

Keywords

Form 4, SEC Filing, Patriot National Bancorp, PNBK, Angie Miranda, Restricted Stock Units, RSUs, Stock Vesting, Insider Trading, Executive Compensation, Tax Withholding