Magzanyan Anahit 4

What Happened

• Magzanyan Anahit, a director of Patriot National Bancorp, had the first tranche of previously granted Restricted Stock Units (RSUs) vest and settle on July 1, 2026. She received 22,222 shares of common stock. The transaction is recorded as an exercise/conversion of a derivative (code M) with an effective price of $0.00, meaning no cash was paid by the reporting person.

Key Details

• Transaction date: July 1, 2026; Form 4 filed July 2, 2026 (reporting period 2026-07-01).
• Transaction entries: acquisition of 22,222 shares (M) at $0.00; corresponding disposition/conversion entry of 22,222 derivative units at $0.00 (reflecting settlement of the RSUs).
• Total cash paid: $0 (settlement in shares).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnote: On July 1, 2025 the director was granted 66,667 RSUs vesting over three years — 22,222 shares vested and settled on 7/1/2026, with remaining tranches of 22,222 and 22,223 shares scheduled for 7/1/2027 and 7/1/2028.
• No 10b5-1 plan, tax-withholding, or sale of the newly issued shares reported in this filing.

Context

• This was a scheduled RSU vesting/settlement (award conversion), not an open-market purchase or sale. Such awards are routine compensation; they do not by themselves indicate a change in the insider’s market view. The filing appears timely (filed the day after the vesting date).