PATRIOT NATIONAL BANCORP INC — joint beneficial ownership filing. The filing reports that the group led by Alon Abady beneficially owns 19,700,000 shares of Common Stock, equal to 9.99% of the class. Applicable percentage is based on 117,085,713 shares outstanding as of April 7, 2026. The filing is a joint statement covering four reporting persons (the Individual, Moniqua 30 LLC, Horizon Trust FBO Alon Abady IRA, and the Abady Family Trust) and discloses holdings and voting/dispositive powers, including 11,100,000 warrants held by the Abady Family Trust that may convert into non-voting common stock subject to specified "Non-Control Conditions."
Positive
None.
Negative
None.
Insights
Joint Schedule 13G reports a near-10% beneficial stake with ownership caps and conversion conditions.
The filing lists 19,700,000 shares beneficially owned by the Reporting Persons, representing 9.99% of the class based on April 7, 2026. It notes a contractual limitation that no holder may exceed 9.99% of voting securities.
Conversion mechanics are contractually limited: the Abady Family Trust holds 11,100,000 three-year warrants exercisable into Non-Voting Common Stock and exchangeable for Voting Common Stock only upon satisfaction of the filing's Non-Control Conditions. Future disclosures may clarify timing and any conversions.
Key Figures
Beneficial ownership:19,700,000 sharesPercent of class:9.99%Shares outstanding:117,085,713 shares+3 more
6 metrics
Beneficial ownership19,700,000 sharesAggregate beneficially owned by Reporting Persons
Percent of class9.99%Percentage of common stock represented by 19,700,000 shares
Shares outstanding117,085,713 sharesShares outstanding as of <date>April 7, 2026</date>
Moniqua 30 LLC holdings5,800,000 sharesMoniqua 30 LLC sole voting/dispositive power
Horizon Trust holdings2,800,000 sharesHorizon Trust FBO Alon Abady IRA sole voting/dispositive power
Abady Family Trust warrants11,100,000 warrantsThree-year warrants exercisable into Non-Voting Common Stock
Key Terms
Non-Voting Common Stock, Non-Control Conditions, warrants, beneficially owned
4 terms
Non-Voting Common Stockmarket
"convert into 1,933,280 shares of non-voting common stock pursuant"
A non-voting common stock is an ownership share in a company that gives holders the same economic rights as regular shares—such as claiming a portion of profits and benefiting from price gains—but does not give the holder the right to vote on corporate decisions. Think of it like owning a seat on a train that shares the ride’s benefits but not the ability to steer the engine; investors care because it affects their influence over management, potential control disputes, and sometimes the stock’s price or attractiveness.
Non-Control Conditionsregulatory
"may be exchanged for Voting Common Stock upon such purchasers meeting the Non-Control Conditions"
warrantsmarket
"acquired 11,100,000 three-year warrants entitling purchaser to purchase"
Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.
beneficially ownedregulatory
"aggregate number and percentage of shares of Common Stock beneficially owned"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
The filing states the Reporting Persons beneficially own 19,700,000 shares, equal to 9.99% of the class. This percentage is calculated from 117,085,713 shares outstanding as of April 7, 2026 per the preliminary proxy statement.
How much of PNBK does Moniqua 30 LLC hold?
Moniqua 30 LLC is reported to hold 5,800,000 shares, representing 4.95% of the class. These shares include conversions from Series A Preferred into non-voting common stock pursuant to the company’s charter terms.
What are the Abady Family Trust’s rights disclosed in the filing?
The Abady Family Trust holds 11,100,000 three-year warrants exercisable into Non-Voting Common Stock, which may be exchanged for Voting Common Stock only if specified Non-Control Conditions are met under the warrant purchase agreement.
Does the filing show who has voting power over the shares?
Yes. The joint filing attributes 19,700,000 shared voting and dispositive power across the Reporting Persons, while individual entries show Sole Voting/Dispositive Power where applicable (for example, Moniqua 30 LLC: 5,800,000 sole voting).
On what record date are outstanding shares calculated?
The filing uses 117,085,713 shares outstanding as of April 7, 2026 to compute percentage ownership; that figure appears in the company’s preliminary proxy statement filed April 17, 2026.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
PATRIOT NATIONAL BANCORP INC
(Name of Issuer)
Common Stock, par value $0.01
(Title of Class of Securities)
70336F203
(CUSIP Number)
03/20/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
70336F203
1
Names of Reporting Persons
Alon Abady
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
19,700,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
19,700,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
19,700,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.99 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: This Schedule 13G is filed jointly by: (i) Alon Abady ("Individual"); (ii) Moniqua 30 LLC (the "LLC"); (iii) Alon Abady, as trustee of Horizon Trust FBO Alon Abady IRA ("Trust 1"); and (iv) Alon Abady, as trustee of Abady Family Trust ("Trust 2," and together with Trust 1, the "Trusts," and collectively with the Individual and the LLC, the "Reporting Persons").
The aggregate number and percentage of shares of Common Stock beneficially owned by each Reporting Person is set forth on such Reporting Person's cover page.
The Individual, as the sole member and manager of the LLC, may be deemed to beneficially own the shares held by the LLC. The Individual, as trustee of each of the Trusts, may be deemed to beneficially own the shares held by each such Trust.
The Individual disclaims beneficial ownership of the shares held by the LLC and the Trusts, except to the extent of his pecuniary interest therein, if any.
Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or his pecuniary interest therein.
Applicable percentage ownership is based on 117,085,713 shares of common stock outstanding as of the Company's Record Date, April 7, 2026, as set forth in the Company's preliminary proxy statement filed with the Commission on April 17, 2026; provided, however, that Alon Abady's shares are subject to the limitation that no holder has the right to become, directly or indirectly, the beneficial owner of more than 9.99% of the issued and outstanding voting securities of the Company.
SCHEDULE 13G
CUSIP Number(s):
70336F203
1
Names of Reporting Persons
Moniqua 30 LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
5,800,000.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
5,800,000.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,800,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.95 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: Moniqua 30 LLC is a Delaware limited liability company that acquired 3,866,720 shares of common stock and 24,166, Series A Preferred Stock pursuant to a securities purchase agreement by and among Issuer, Moniqua 30 LLC, and other investors, dated as of March 20, 2025. On July 3, 2025, 24,166 shares of Series A Preferred Stock previously issued to Moniqua 30 LLC automatically converted into 1,933,280 shares of non-voting common stock pursuant to the terms of the Company's Amended and Restated Certificate of Incorporation. Alon Abady is the sole member and manager of Moniqua 30, LLC. The business address of Moniqua 30, LLC is 501 S. Beverly Drive, Suite 220, Beverly Hills, CA 90212. Applicable percentage ownership is based on 117,085,713 shares of common stock outstanding as of the Company's Record Date, April 7, 2026, as set forth in the Company's preliminary proxy statement filed with the Commission on April 17, 2026; provided, however, that Alon Abady's shares are subject to the limitation that no holder has the right to become, directly or indirectly, the beneficial owner of more than 9.99% of the issued and outstanding voting securities of the Company.
SCHEDULE 13G
CUSIP Number(s):
70336F203
1
Names of Reporting Persons
Alon Abady, as trustee of Horizon Trust FBO Alon Abady IRA
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
NEW MEXICO
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
2,800,000.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
2,800,000.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,800,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.39 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: Horizon Trust FBO Alon Abady IRA acquired 2,800,000 shares of common stock pursuant to a securities purchase agreement by and among Issuer, Horizon Trust FBO Alon Abady IRA, and other investors, dated as of March 20, 2025. As trustee, Alon Abady has sole voting and dispositive power over the shares held by Horizon Trust FBO Alon Abady IRA. The business address of Horizon Trust FBO Alon Abady IRA is 6301 Indian School Road NE, Suite 810, Albuquerque, NM 87110.
Applicable percentage ownership is based on 117,085,713 shares of common stock outstanding as of the Company's Record Date, April 7, 2026, as set forth in the Company's preliminary proxy statement on Schedule 14A filed with the Commission on April 17, 2026; provided, however, that Alon Abady's shares are subject to the limitation that no holder has the right to become, directly or indirectly, the beneficial owner of more than 9.99% of the issued and outstanding voting securities of the Company.
SCHEDULE 13G
CUSIP Number(s):
70336F203
1
Names of Reporting Persons
Alon Abady, as trustee of the Abady Family Trust
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CALIFORNIA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
11,100,000.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
11,100,000.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
11,100,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
9.48 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: On August 29, 2025, pursuant to a warrant purchase agreement, Mr. Abady, through the Abady Family Trust, acquired 11,100,000 three-year warrants entitling purchaser to purchase, after six months following closing, shares of Non-Voting Common Stock which, may be exchanged for shares of Voting Common Stock upon such purchasers meeting the Non-Control Conditions. The "Non-Control Conditions" in the warrant purchase agreement require that no beneficial owner is entitled to purchase Voting Common Stock or convert any Non-Voting Common Stock, preferred stock or warrant that would cause such beneficial owner (including its affiliates or any other persons with which such purchaser is acting in concert or whose holdings would otherwise be required to be aggregated for purposes of the Bank Holding Company Act of 1956 (the "BHC Act") or the Change in Bank Control Act of 1978 (the CIBC Act), to acquire, or to obtain the right to acquire, more than 9.99% of the outstanding Securities or the voting securities of the Company. Alon Abady has sole voting and dispositive power over the warrants held by the Abady Family Trust. The business address of the Abady Family Trust is 269 S. Beverly Drive, Suite 1681, Beverly Hills, CA 90212.
Applicable percentage ownership is based on 117,085,713 shares of common stock outstanding as of the Company's Record Date, April 7, 2026, as set forth in the Company's preliminary proxy statement on Schedule 14A filed with the Commission on April 17, 2026; provided, however, that Alon Abady's shares are subject to the limitation that no holder has the right to become, directly or indirectly, the beneficial owner of more than 9.99% of the issued and outstanding voting securities of the Company.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
PATRIOT NATIONAL BANCORP INC
(b)
Address of issuer's principal executive offices:
900 Bedford Street, Stamford, CT, 06901
Item 2.
(a)
Name of person filing:
Alon Abady
(b)
Address or principal business office or, if none, residence:
269 S. Beverly Drive, Suite 1681, Beverly Hills, CA 90212
(c)
Citizenship:
United States
(d)
Title of class of securities:
Common Stock, par value $0.01
(e)
CUSIP Number(s):
70336F203
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
19,700,000
(b)
Percent of class:
9.99 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0.00
(ii) Shared power to vote or to direct the vote:
19,700,000
(iii) Sole power to dispose or to direct the disposition of:
0.00
(iv) Shared power to dispose or to direct the disposition of:
19,700,000
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Alon Abady
Signature:
/s/ Alon Abady
Name/Title:
Alon Abady
Date:
06/02/2026
Moniqua 30 LLC
Signature:
/s/ Alon Abady
Name/Title:
Alon Abady, Sole Member
Date:
06/02/2026
Alon Abady, as trustee of Horizon Trust FBO Alon Abady IRA
