Form 4: Patriot National Bancorp Insider Awarded RSUs

Steven Sugarman, President and CEO of Patriot National Bancorp, Inc., received significant Restricted Stock Unit grants on May 20, 2026, as part of his employment agreement.

Summary

• Steven Sugarman, President and CEO and Director of Patriot National Bancorp, Inc., was granted Restricted Stock Units (RSUs) on May 20, 2026.
• The grants include 575 shares for a Q4 2025 quarterly equity award and 104,452 shares for a Q1 2026 quarterly equity award.
• These RSUs are subject to a one-year restricted period, vesting in twelve equal monthly installments starting May 20, 2026, and will be settled on May 20, 2027.
• Following these grants, Sugarman beneficially owns 1,700,533 shares of common stock directly.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive filing, reflecting standard executive compensation practices and continued executive commitment, but without immediate financial performance indicators.

Positives

• Significant equity awards granted to key executive (President and CEO) and director, indicating continued investment in leadership.
• The grants are tied to quarterly equity awards, suggesting a structured compensation plan.
• The RSUs are directly held, indicating direct beneficial ownership by the reporting person.

Risks

• The RSUs are subject to a one-year restricted period, meaning the executive cannot freely trade these shares until May 20, 2027.
• Vesting is contingent on continued employment and adherence to the terms of the employment agreement.

Future Outlook

The future outlook for these specific RSUs is tied to the vesting schedule and the executive's continued employment, with settlement expected on May 20, 2027.

Industry Context

StockSavvy.ai notes that the granting of Restricted Stock Units (RSUs) to senior executives like Steven Sugarman is a common practice in the banking and financial services industry to align executive interests with shareholder value and to retain key talent.

Stakeholder Impact

• Shareholders: The granting of RSUs can be viewed positively as it aligns executive compensation with long-term company performance and retention.
• Employees: May indicate a stable leadership structure and continued focus on executive incentives.
• Management: Reinforces the compensation structure for the President and CEO.

Next Steps

• Monthly vesting of RSUs commencing May 20, 2026.
• Settlement of RSUs on May 20, 2027, subject to the terms of the employment agreement.

Key Dates

Keywords

Restricted Stock Units, RSU Grants, Equity Award, Insider Transaction, Patriot National Bancorp, PNBK, Steven Sugarman, Executive Compensation, Beneficial Ownership