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

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-05-15
Form: S-3
Chunk 15
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positive power over the shares held by Atlantic States Insurance Company.
(11) Scott Adelson, John Mavredakis, and Michael Kramer serve as managers of Bluewater Communications, LLC (“Bluewater Communications”). Under the so-called “rule of three,” if voting and dispositive decisions regarding an entity’s securities are made by two or more individuals, and a voting and dispositive decision requires the approval of a majority of those individuals, then none of the individuals is deemed a beneficial owner of the entity’s securities. This is the situation with regard to Bluewater Communications. Based upon the foregoing analysis, no individual manager of Bluewater Communications exercises voting or dispositive control over any of the securities held by Bluewater Communications. Accordingly, none of the managers is deemed to have or share beneficial ownership of such securities. The business address of Bluewater Communications is 10250 Constellation Blvd., 5 Floor, Los Angeles, CA 90067.

(12) Bob Safai, as the sole trustee of the Bob Safai Revocable Trust, has sole voting and dispositive power of the shares held by the Bob Safai Revocable Trust. The business address of the Bob Safai Revocable Trust is 11777 San Vincente Blvd., #500, Los Angeles, CA 90049.

(13) Scott Z. Adler and Rachelle Adler, as trustees of The Scott Z. and Rachelle Adler Family Trust, share voting and dispositive power of the securities held by The Scott Z. and Rachelle Adler Family Trust. The business address of The Scott Z. and Rachelle Adler Family Trust is 13351 Riverside Dr., #438, Sherman Oaks, CA 91423.
(14) Jeff Singer, as the sole trustee of Singer Family Trust, has sole voting and dispositive power of the shares held by Singer Family Trust.
(15) Carlos P. Salas, as managing member of HECA Management LLC (“HECA Management”), has sole voting and dispositive power over the shares held by HECA Management.
(16) Julian Maimin and Stacey Maimin, as trustees of the Julian and Stacey Maimin 2010 Revocable Trust, share voting and dispositive power over the shares held by the Julian and Stacey Maimin 2010 Revocable Trust.

(17) Standard Nevada LLC, as manager of JNS Holdings LLC (“JNS Holdings”), has voting and dispositive power over the shares held by JNS Holdings. Standard Nevada LLC is wholly owned