Company: PNBK
Filing Date: 2025-05-16
Form Type: PRE 14A
Source: 0001140361-25-019517
Chunk: 32

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-05-16
Form: PRE 14A
Chunk 32
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 the Omnibus Equity Incentive Plan, to interpret the terms and provisions of the Omnibus Equity Incentive Plan and any award issued under the Omnibus Equity Incentive Plan (and any agreement relating thereto), to establish any “blackout” period that the Compensation Committee in its sole discretion deems necessary or advisable and to otherwise administer the plan. The Compensation Committee may delegate to not less than two directors of the Company the authority to grant awards to designated classes of eligible individuals, within limits specifically prescribed by the Compensation Committee; provided that no such officer will have the authority to grant awards to himself or herself or to any person then subject to Section 16 of the Exchange Act. Shares Subject to adjustment as provided in the Omnibus Equity Incentive Plan, the maximum number of “shares” (as defined in the Omnibus Equity Incentive Plan) and/or “options” (as defined in the Omnibus Equity Incentive Plan) and/or SARs (as defined herein) that may be granted pursuant to Awards under the Omnibus Equity Incentive Plan shall be twenty percent (20%) of the then outstanding shares (which, for the avoidance of doubt, includes all outstanding shares of common stock, whether voting or non-voting) (the “Share Limit”); provided, that in no event shall the Share Limit be less than 10,000,000. As of the Record Date, there were 76,259,670 shares of common stock issued and outstanding. 15,251,934 shares of common stock represent twenty percent (20%) of the Company’s outstanding shares of common stock as of the Record Date. The maximum number of shares that may be granted pursuant to options intended to be incentive stock options (“ISOs”) shall be equal to the Share Limit. The maximum number of shares that may be issued under the Omnibus Equity Incentive Plan is subject to adjustment, as described below. Shares issued under the Omnibus Equity Incentive Plan may be authorized but unissued shares of common stock. 26

If an award is forfeited, terminates, expires or lapses instead of being exercised, or any award is settled for cash, the shares underlying such forfeited, terminated, expired or lapsed award will return to the pool of shares available for issuance under the Omnibus Equity Incentive Plan. Eligibility Generally, all directors, officers, employees and consultants of the Company and its “subsidiaries” (as defined in the Omnibus Equity Incentive Plan) and