Patriot National Bancorp (PNBK) CFO receives 74,983 RSU grant with 3-year vesting

Rhea-AI Filing Summary

Salas Carlos P reported acquisition or exercise transactions in this Form 4 filing.

Patriot National Bancorp executive vice president and chief financial officer Carlos P. Salas received a compensation grant of Restricted Stock Units equal to 74,983 shares of common stock. These RSUs were granted under his employment agreement and vest in three annual installments starting on May 20, 2027.

Each vesting date will deliver 24,994 shares on the first and second anniversaries and 24,995 shares on the third anniversary. Following this award, Salas has 741,650 shares represented by derivative securities reported in this filing, reflecting a sizable ongoing equity stake aligned with the company’s stock performance.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Salas Carlos P

Role EVP & Chief Financial Officer

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	74,983	$0.00	--

Holdings After Transaction: Restricted Stock Units — 741,650 shares (Direct, null)

Footnotes (1)

1. On May 20, 2026, pursuant to the Reporting Person's employment agreement with the Issuer dated April 30, 2025, the Reporting Person was granted Restricted Stock Units ("RSUs") equal to 74,983 shares of Common Stock, which will vest in three equal installments on each of the first three anniversaries of the award date (24,994 shares, 24,994 shares, and 24,995 shares respectively as of May 20, 2027, 2028 and 2029). N/A

Key Figures

RSUs granted: 74,983 units Vesting installment 1: 24,994 shares Vesting installment 2: 24,994 shares +2 more

5 metrics

RSUs granted 74,983 units Restricted Stock Units awarded on May 20, 2026

Vesting installment 1 24,994 shares First anniversary vesting on May 20, 2027

Vesting installment 2 24,994 shares Second anniversary vesting on May 20, 2028

Vesting installment 3 24,995 shares Third anniversary vesting on May 20, 2029

Holdings after transaction 741,650 shares Total shares represented by derivative securities after grant

Key Terms

Restricted Stock Units, employment agreement, vest, Common Stock

4 terms

Restricted Stock Units financial

"the Reporting Person was granted Restricted Stock Units ("RSUs") equal to 74,983 shares"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

employment agreement financial

"pursuant to the Reporting Person's employment agreement with the Issuer dated April 30, 2025"

vest financial

"which will vest in three equal installments on each of the first three anniversaries"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

Common Stock financial

"RSUs equal to 74,983 shares of Common Stock"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Salas Carlos P

(Last) (First) (Middle)

C/O PATRIOT NATIONAL BANCORP, INC.

900 BEDFORD STREET

(Street)

STAMFORD CONNECTICUT 06901

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
PATRIOT NATIONAL BANCORP INC [ PNBK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP & Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(2)	05/20/2026		A(1)		74,983		05/20/2027	05/20/2029	Common Stock	74,983	$0	741,650	D

Explanation of Responses:

1. On May 20, 2026, pursuant to the Reporting Person's employment agreement with the Issuer dated April 30, 2025, the Reporting Person was granted Restricted Stock Units ("RSUs") equal to 74,983 shares of Common Stock, which will vest in three equal installments on each of the first three anniversaries of the award date (24,994 shares, 24,994 shares, and 24,995 shares respectively as of May 20, 2027, 2028 and 2029).

2. N/A

	/s/ Carlos P. Salas	05/27/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did PNBK report for Carlos P. Salas?

Patriot National Bancorp reported that EVP and CFO Carlos P. Salas received a grant of 74,983 Restricted Stock Units. The award is part of his employment agreement and represents equity-based compensation rather than an open-market stock purchase or sale.

How many PNBK Restricted Stock Units were granted to the CFO?

Carlos P. Salas was granted 74,983 Restricted Stock Units linked to Patriot National Bancorp common stock. These units convert into the same number of shares as they vest, giving him additional long-term equity exposure tied directly to the company’s share performance over time.

What is the vesting schedule for the PNBK RSUs granted to Carlos P. Salas?

The 74,983 RSUs vest in three equal annual installments beginning May 20, 2027. The first two vestings cover 24,994 shares each, and the final installment covers 24,995 shares, fully vesting the award by May 20, 2029 if employment conditions are met.

Is the PNBK CFO’s RSU grant an open-market stock purchase?

No, the RSU grant is a compensation award, not an open-market purchase. The Form 4 labels the transaction as a grant or award acquisition with a zero exercise price, meaning the shares are earned through vesting rather than being bought for cash.

How many PNBK-related shares does Carlos P. Salas hold after this RSU grant?

After the grant, the Form 4 reports that Carlos P. Salas has 741,650 shares represented by derivative securities. This figure includes the newly granted RSUs and indicates a substantial ongoing equity position aligned with Patriot National Bancorp shareholders.