Salas Carlos P 4

What Happened

• Carlos P. Salas, CFO of Patriot National Bancorp (PNBK), was granted 74,983 restricted stock units (RSUs) on May 20, 2026. The Form 4 reports an acquisition at $0.00 per share (this is a compensation grant, not a cash purchase or sale).
• The RSUs vest in three equal annual installments: 24,994 shares on May 20, 2027; 24,994 on May 20, 2028; and 24,995 on May 20, 2029. The grant was made pursuant to Salas’s employment agreement dated April 30, 2025.

Key Details

• Transaction date: May 20, 2026; Report filed: May 27, 2026 (Form 4). The filing appears to be late — Form 4s are normally due within two business days of the transaction.
• Transaction type/code: A (award/grant); reported price: $0.00 (derivative/RSU grant).
• Shares granted: 74,983 RSUs (vesting 24,994 / 24,994 / 24,995 over 2027–2029).
• Shares owned after transaction: not specified in the filing.
• Footnotes: Grant made under the reporting person’s employment agreement (dated April 30, 2025). No tax-withholding or share-forfeiture details were provided.

Context

• RSU grants are a form of compensation and do not involve an immediate cash outlay or open-market purchase; they convert to common shares only as they vest. Such grants are common for executives and are not direct buy/sell signals about near-term stock sentiment.