Company: PNBK
Filing Date: 2025-05-16
Form Type: PRE 14A
Source: 0001140361-25-019517
Chunk: 75

Company: PATRIOT NATIONAL BANCORP INC
Filing Date: 2025-05-16
Form: PRE 14A
Chunk 75
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.01 per share (“Common Stock”), of which (i) 1,800,000,000 shares of Common Stock shall be designated as voting Common Stock (“Voting Common Stock”) and 200,000,000 shares shall be designated as non-voting Common Stock (“Non-Voting Common Stock” and together with the Voting Common Stock, “Common Stock”), and (ii) 200,000,000 shares shall be designated as preferred stock, without par value (“Preferred Stock”). (b) Voting Common Stock. Subject to all of the rights of the Preferred Stock, if any, and except as provided by law or in this Article II (or in any certificate of amendment related to any series of Preferred Stock): (i) the holders of the Voting Common Stock shall have the exclusive right to vote for the election of directors and on all other matters requiring shareholder action; (ii) in all elections of directors, the number of votes each holder of Voting Common Stock may cast will be determined by multiplying the number of shares he, she or it owns by the number of directors to be elected, and those votes may be cumulated and cast for a single candidate or may be distributed among two or more candidates in the manner selected by such holder of Voting Common Stock; (iii) in all matters (other than the election of directors), each holder of a share of Voting Common Stock shall be entitled to one vote for each share held by such holder; (iv) dividends may be declared and paid or set apart for payment upon the Voting Common Stock out of any assets or funds of the Corporation legally available for the payment of dividends, but only when and as declared by the Board of Directors (the “Board”); (v) upon the voluntary or involuntary liquidation, dissolution or winding up of the Corporation, the net assets of the Corporation shall be distributed pro rata to the holders of the Voting Common Stock in accordance with their respective rights and interests; and (vi) the Corporation will not be prohibited from repurchasing or otherwise acquiring shares of Voting Common Stock in voluntary transactions with the holders thereof, subject to compliance with any applicable legal or regulatory requirements, including applicable regulatory capital requirements. Any shares of Voting Common Stock repurchased or otherwise acquired may be reissued as additional shares of Voting Common Stock. B-1 (c) Non-Voting Common Stock. Each share of Non-Voting Common Stock shall have the designations, preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends, qualifications, or terms or