Company: PNBK
Filing Date: 2025-05-15
Form Type: S-3
Source: 0001437749-25-016950
Chunk: 21

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-05-15
Form: S-3
Chunk 21
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, other than as a result of the ownership of shares of our Common Stock or Series A Preferred Stock, as applicable.

This description is only a summary and it does not contain all the information that may be important to you. For a complete description of these agreements you should refer to the Employment Agreement and the Registration Rights Agreements, copies or forms of which are included as exhibits to our SEC filings incorporated by reference herein.

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DESCRIPTION OF CAPITAL STOCK</div>

The following description summarizes certain important terms of our capital stock as of the date of this prospectus as specified in our Certificate of Incorporation, as amended by our Certificates of Amendment and corrected, or“Certificate of Incorporation,”and Amended and Restated Bylaws, or“Bylaws.”Because the following description is only a summary, it does not contain all the information that may be important to you. For a complete description of the matters set forth in this section titled“Description of Capital Stock,”you should refer to the Certificate of Incorporation, the Bylaws, the Purchase Agreements and the Registration Rights Agreements, copies or forms of which are included as exhibits to our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filed with the SEC on April 15, 2025 and incorporated by reference herein, and to the applicable provisions of the Connecticut Business Corporation Act, as amended, or the“CBCA,”and Bank Holding Company Act, as amended, or the“BHC Act.”

General

We are authorized to issue 100,000,000 shares of Common Stock and 1,000,000 shares of preferred stock, no par value per share, or “Preferred Stock,” of which 500,000 shares are designated as Series A Non-Cumulative Perpetual Convertible Preferred Stock, no par value per share, or “Series A Preferred Stock.” As of May 14, 2025, 76,259,670 shares of Common Stock and 90,832 shares of Series A Preferred Stock were issued and outstanding. Shares of our Common Stock are listed on Nasdaq under the symbol “PNBK.”

Common Stock

Dividends.Subject to preferences that may apply to shares of Preferred Stock outstanding at the time, the holders of our Common Stock are entitled to receive dividends out of assets legally available at the times and in the amounts as our board of directors may from time to time determine. The ability of our board of directors to declare and pay dividends on our Common