Company: PNBK
Filing Date: 2025-05-27
Form Type: DEF 14A
Source: 0001140361-25-020413
Chunk: 84

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-05-27
Form: DEF 14A
Chunk 84
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 of false statement, that the statements made in the foregoing Certificate of Incorporation are true. Dated at Stamford, Connecticut, thisday of, 2025.

| PATRIOT NATIONAL BANCORP, INC. |
| By:                            |
| Name:                          |
| Title:                         |

B-4

ANNEX A Shares of the Non-Voting Common Stock shall have the powers, preferences and relative, participating, optional or other rights, and the qualifications, limitations and restrictions as set forth below: 1. Definitions. (a) “ Affiliate” means, with respect to any Person, any other Person that, directly or indirectly through one or more intermediaries, Controls, is controlled by or is under common control with such Person, as such terms are used in and construed under Rule 405 under the Securities Act of 1933, as amended. (b) “ Control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise. (c) “ Maximum Voting Securities” mean, in connection with any one or more conversions of Non-Voting Common Stock by any Holder, without prior receipt of Regulatory Approvals to enable the holder of Non-Voting Common Stock to acquire a higher percentage of the Voting Common Stock (or any other class of Voting Securities issued by the Corporation) than such holder or any of the holder’s Affiliates owned of record or beneficially immediately prior to the conversion, not more than 9.99% of the Voting Common Stock (or of any other class of Voting Securities issued by the Corporation), excluding for the purpose of this calculation any reduction in ownership resulting from transfers by such holder of Voting Securities of the Corporation (which, for the avoidance of doubt, does not include Non-Voting Common Stock), provided that any right to convert shall not be available if it would result in such holder being deemed to control, including pursuant to the terms of 12 C.F.R. § 225.9(a)(1) and/or 12 C.F.R. § 225.9 (a)(5), Voting Securities that would result in such holder being deemed to control the Corporation or the Bank for purposes of the BHC Act or the CIBC Act or any implementing regulations thereunder, and provided further that the right to convert Non-Voting Common Stock into Voting Common Stock shall not be available to a transferee of shares of Non-Voting Common Stock with