Constantino Edward N. 4
4 · PATRIOT NATIONAL BANCORP INC · Filed Jul 2, 2026
Research Summary
AI-generated summary of this filing
PATRIOT NATIONAL (PNBK) Director Edward Constantino Receives 22,222 Shares
What Happened
Edward Constantino, a director of Patriot National Bancorp, reported the vesting/settlement of 22,222 restricted stock units (RSUs) on July 1, 2026. The Form 4 shows a conversion/exercise-type reporting (code M) resulting in the delivery of 22,222 shares at $0.00 consideration — the RSU award was settled in shares with no cash paid by the reporting person.
Key Details
- Transaction date: July 1, 2026 (Form 4 filed July 2, 2026).
- Reported entries: 22,222 shares acquired via conversion/exercise (code M) at $0.00; a corresponding 22,222-derivative disposition was also recorded (reflecting settlement of the RSU).
- Consideration: $0.00 paid by the insider on settlement.
- Footnote: RSUs were granted on July 1, 2025 for 66,667 shares, vesting over three years (22,222; 22,222; 22,223 on July 1 of 2026, 2027, 2028). The first installment vested and was settled on July 1, 2026.
- Shares owned after the transaction: not specified in the provided filing excerpt.
- Filing timing: Form filed the day after the transaction (no late filing flag indicated in the provided details).
Context
This was a standard equity-award vesting and settlement (RSUs converting into common stock), not a market sale. The derivative entries reflect extinguishing the RSU right and issuing common shares; no immediate sale or cashless exercise occurred. For retail investors, awards being vested and retained are generally neutral-to-mildly informative (they increase insider ownership but do not represent insider buying in the open market).
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-07-01+22,222→ 42,542 total - Exercise/Conversion
Restricted Stock Units
[F1]2026-07-01−22,222→ 44,445 totalExercise: $0.00From: 2026-07-01Exp: 2026-07-01→ Common Stock (22,222 underlying)
- 1,000(indirect: By IRA)
Common Stock
Footnotes (1)
- [F1]On July 1, 2025, the Reporting Person was granted Restricted Stock Units ("RSUs") equal to 66,667 shares of Common Stock of the Issuer, which will vest over three years (22,222 shares, 22,222 shares, and 22,223 shares respectively as of July 1, 2026, 2027 and 2028). On July 1, 2026, the first installment of 22,222 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.