Steven Sugarman - 03 Jul 2025 Form 4/A - Amendment Insider Report for PATRIOT NATIONAL BANCORP INC (PNBK)

Reporting relationship: President, Director
Issuer ticker: PNBK
Reported as of: 03 Jul 2025
Net transaction value: $0
SEC form: 4/A - Amendment
Accepted by SEC: 14 Aug 2025, 16:21:13 UTC
Original report date: 08 Jul 2025
Prior SEC filing: 01 Apr 2025
Next SEC filing: 14 Aug 2025
Source filing: View source filing
Reporting owner signature: Steven Sugarman

Key filing fact

Steven Sugarman filed Form 4/A - Amendment for PATRIOT NATIONAL BANCORP INC (PNBK) on 14 Aug 2025.

Key facts

This page summarizes Steven Sugarman's Form 4/A - Amendment filing for PATRIOT NATIONAL BANCORP INC (PNBK).
4 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 14 Aug 2025, 16:21.

Change

Previous filing in this sequence was filed on 01 Apr 2025.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4/A - Amendment disclosures.

View source filing

Reporting Owners (1)

CIK 0001504590 Primary reporting owner

Sugarman Steven

Relationship: President, Director
Address: C/O PATRIOT NATIONAL BANCORP, INC., 900 BEDFORD STREET, STAMFORD
Signature: Steven Sugarman
Signature date: 14 Aug 2025

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

PNBK transaction

Non-Voting Common Stock

Options Exercise

Transaction value
Shares: +1,533,333
Change %
Price
Shares after: 1,533,333
Date: 03 Jul 2025
Ownership: By Steven and Ainslie Sugarman Living Trust
Footnotes: F1, F2, F3

PNBK transaction

Non-Voting Common Stock

Options Exercise

Transaction value
Shares: +466,667
Change %: +30%
Price
Shares after: 2,000,000
Date: 03 Jul 2025
Ownership: By Steven and Ainslie Sugarman Living Trust
Footnotes: F2, F3, F4

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

PNBK transaction Derivative

Series A Preferred Stock

Conversion of derivative security

Transaction value
Shares: -19,167
Change %: -77%
Price
Shares after: 5,833
Date: 03 Jul 2025
Ownership: By Steven and Ainslie Sugarman Living Trust
Underlying class: Non-Voting Common Stock
Underlying amount: 1,533,333
Exercise price
Footnotes: F1, F2, F3

PNBK transaction Derivative

Series A Preferred Stock

Conversion of derivative security

Transaction value
Shares: -5,833
Change %: -100%
Price
Shares after: 0
Date: 03 Jul 2025
Ownership: By Steven and Ainslie Sugarman Living Trust
Underlying class: Non-Voting Common Stock
Underlying amount: 466,667
Exercise price
Footnotes: F2, F3, F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 4 footnotes

Footnote F1

On March 20, 2025, Patriot National Bancorp, Inc. (the Issuer) completed its private placement of: (i) shares of Common Stock, par value $0.01 per share of the Issuer (the Voting Common Stock) at a purchase price of $0.75 per share, and (ii) shares of a new series of the Issuer's preferred stock, no par value per share (the Series A Preferred Stock), with a liquidation preference of $60 per share (the Private Placement). Steven and Ainslie Sugarman Living Trust (the Trust) purchased, as part of the Private Placement, 19,167 shares of Series A Preferred Stock, convertible into 1,533,333 shares of Voting Common Stock, subject to the limitation that no investor in the Private Placement has the right to become the beneficial owner (as determined under Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the Exchange Act)) of more than 9.99% of the issued and outstanding voting securities of the Issuer.

Footnote F2

On July 3, 2025, all issued and outstanding shares of Series A Preferred Stock automatically converted into shares of non-voting common stock, par value $0.01 per share ("Non-Voting Common Stock"), of the Issuer, pursuant to the terms of the Amended and Restated Certificate of Incorporation of the Issuer. Series A Preferred Stock had no expiration date. Each share of Non-Voting Common Stock is convertible into one share of Voting Common Stock, subject to the terms of the Amended and Restated Certificate of Incorporation of the Issuer, including the limitation that no holder of Non-Voting Common Stock has the right to become the beneficial owner (as determined under Rule 13d-3 under the Exchange Act) of more than 9.99% of the issued and outstanding voting securities of the Issuer. Voting Common Stock has no expiration date.

Footnote F3

The Trust is a revocable living trust for the benefit of the Reporting Person and his spouse. The Reporting Person and his spouse are the trustees of the Trust.

Footnote F4

The Trust was also issued 5,833 shares of Series A Preferred Stock, convertible into 466,667 shares of Common Stock, as a reimbursement of the Reporting Person's legal fees and expenses relating to the Private Placement, subject to the limitation that the Reporting Person does not have the right to become, directly or indirectly, the beneficial owner of more than 9.99% of the issued and outstanding voting securities of the Issuer.