Constantino Edward N. 4

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).