STOCK TITAN
  1. Home
  2. Sec-filings
  3. PNBK
  4. [Form 4] PATRIOT NATIONAL BANCORP INC Insider Trading Activity

Patriot National Bancorp (PNBK) EVP reports 333,333 RSUs vested and tax share withholding

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

PATRIOT NATIONAL BANCORP INC executive William Paul Simmons reported equity compensation-related transactions involving Restricted Stock Units and Common Stock. On April 30, 2026, 333,333 RSUs vested from a 1,000,000-unit award that vests in three equal annual installments, and were settled in shares with no cash paid by Simmons.

The issuer withheld 121,776 shares of Common Stock at $1.23 per share to cover Simmons’ tax obligations upon settlement; these withheld shares were not delivered to him and do not reflect an open-market sale. Following these transactions, Simmons directly holds 211,557 shares of Common Stock.

Positive

  • None.

Negative

  • None.

Insights

Routine RSU vesting with tax withholding; no open-market trading.

EVP & Chief Credit Officer William Paul Simmons had 333,333 RSUs vest from a 1,000,000-unit award, settling into Common Stock without any cash payment by him. This reflects standard equity compensation rather than discretionary stock buying.

The company withheld 121,776 shares at $1.23 per share to satisfy tax obligations, a non-market disposition under code F. After these events, Simmons directly holds 211,557 Common shares. With no open-market purchases or sales reported, the filing mainly updates his compensation and ownership position.

Insider Simmons William Paul
Role EVP & Chief Credit Officer
Type Security Shares Price Value
Exercise Restricted Stock Units 333,333 $0.00 --
Exercise Common Stock 333,333 $0.00 --
Tax Withholding Common Stock 121,776 $1.23 $150K
Holdings After Transaction: Restricted Stock Units — 666,667 shares (Direct, null); Common Stock — 333,333 shares (Direct, null)
Footnotes (1)
  1. On August 13, 2025, pursuant to an award agreement effective as of April 30, 2025, the Reporting Person was granted Restricted Stock Units ("RSUs") equal to 1,000,000 shares of Common Stock, which will vest in three equal installments on each of the first three anniversaries of the award date. On April 30, 2026, the first installment of 333,333 RSUs vested and settled and the Issuer delivered shares of Common Stock in settlement thereof. No consideration was paid by the Reporting Person in connection with the settlement. Represents 121,776 shares of Common Stock withheld by the Issuer upon settlement of the RSUs to satisfy the Reporting Person's applicable tax withholding obligations. The shares were withheld at a price of $1.23 per share, representing the closing price of the Issuer's Common Stock on April 30, 2026. The withheld shares were not delivered to the Reporting Person.
RSUs granted 1,000,000 units Award effective April 30, 2025, vesting over three years
RSUs vested 333,333 units First installment vested on April 30, 2026
Shares withheld for taxes 121,776 shares Withheld upon RSU settlement on April 30, 2026
Withholding price $1.23 per share Closing price of Common Stock on April 30, 2026
Common shares held after transaction 211,557 shares Direct ownership after April 30, 2026 events
RSUs remaining unvested 666,667 units Unvested portion of 1,000,000-unit award after first vesting
Restricted Stock Units financial
"the Reporting Person was granted Restricted Stock Units ("RSUs") equal to 1,000,000 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.
tax withholding obligations financial
"withheld by the Issuer upon settlement of the RSUs to satisfy the Reporting Person's applicable tax withholding obligations"
Exercise or conversion of derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security""
Payment of exercise price or tax liability by delivering securities financial
"transaction_code_description": "Payment of exercise price or tax liability by delivering securities""
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Simmons William Paul
(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)
Director10% Owner
XOfficer (give title below)Other (specify below)
EVP & Chief Credit Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/30/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock04/30/2026M(1)333,333A$0(1)333,333D
Common Stock04/30/2026F(2)121,776D$1.23(2)211,557D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Units$004/30/2026M(1)333,33304/30/202604/30/2026Common Stock333,333$0666,667D
Explanation of Responses:
1. On August 13, 2025, pursuant to an award agreement effective as of April 30, 2025, the Reporting Person was granted Restricted Stock Units ("RSUs") equal to 1,000,000 shares of Common Stock, which will vest in three equal installments on each of the first three anniversaries of the award date. On April 30, 2026, the first installment of 333,333 RSUs vested and settled and the Issuer delivered shares of Common Stock in settlement thereof. No consideration was paid by the Reporting Person in connection with the settlement.
2. Represents 121,776 shares of Common Stock withheld by the Issuer upon settlement of the RSUs to satisfy the Reporting Person's applicable tax withholding obligations. The shares were withheld at a price of $1.23 per share, representing the closing price of the Issuer's Common Stock on April 30, 2026. The withheld shares were not delivered to the Reporting Person.
/s/ William Paul Simmons05/04/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider activity did PNBK executive William Paul Simmons report on April 30, 2026?

William Paul Simmons reported RSU vesting and related share withholding, not open-market trading. 333,333 Restricted Stock Units vested and settled into Common Stock, while 121,776 shares were withheld by the company to cover his tax obligations tied to this settlement.

How many Patriot National Bancorp (PNBK) RSUs were originally granted to William Paul Simmons?

Simmons was granted Restricted Stock Units equal to 1,000,000 shares of PNBK Common Stock. The award vests in three equal installments on each of the first three anniversaries of the April 30, 2025 award date, with shares delivered upon each vesting event.

How many Patriot National Bancorp (PNBK) RSUs vested for William Paul Simmons in 2026?

On April 30, 2026, the first installment of 333,333 RSUs vested for William Paul Simmons. These RSUs came from a 1,000,000-unit grant and were settled in shares of Common Stock without any cash consideration paid by Simmons to receive the shares.

Why were 121,776 Patriot National Bancorp (PNBK) shares withheld from William Paul Simmons?

121,776 PNBK shares were withheld to satisfy Simmons’ tax withholding obligations on the RSU settlement. The issuer withheld these shares at $1.23 per share, the closing price on April 30, 2026, and the withheld shares were not delivered to Simmons as part of his holdings.

How many Patriot National Bancorp (PNBK) common shares does William Paul Simmons hold after these transactions?

After the April 30, 2026 transactions, William Paul Simmons directly holds 211,557 shares of PNBK Common Stock. This figure reflects his position following RSU vesting and the company’s withholding of shares to cover associated tax obligations on the equity award settlement.

Did William Paul Simmons buy or sell Patriot National Bancorp (PNBK) shares on the open market?

The filing does not show any open-market purchases or sales by Simmons. Reported events are RSU vesting (code M) and tax-withholding disposition (code F), where shares were withheld by the issuer to cover taxes rather than being traded in the market.