# EDGAR Filing Document

**Accession Number:** 0001504590
**File Stem:** 0001437749-25-022374
**Filing Date:** 2025-7
**Character Count:** 8787
**Document Hash:** 0926aa92dbb100d236c73940638a37c6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-25-022374.hdr.sgml**: 20250708

**ACCESSION NUMBER**: 0001437749-25-022374

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250703

**FILED AS OF DATE**: 20250708

**DATE AS OF CHANGE**: 20250708

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Sugarman Steven
- **CENTRAL INDEX KEY:** 0001504590

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-29599
- **FILM NUMBER:** 251112176

**MAIL ADDRESS:**
- **STREET 1:** C/O FIRST PACTRUST BANCORP INC
- **STREET 2:** 610 BAY BOULEVARD
- **CITY:** CHULA VISTA
- **STATE:** CA
- **ZIP:** 91910
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PATRIOT NATIONAL BANCORP INC
- **CENTRAL INDEX KEY:** 0001098146
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 061559137
- **STATE OF INCORPORATION:** CT
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 900 BEDFORD ST
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06901
- **BUSINESS PHONE:** 2033247500

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Sugarman Steven<br><sub>(Last) (First) (Middle)</sub><br>C/O PATRIOT NATIONAL BANCORP, INC.<br>900 BEDFORD STREET<br><sub>(Street)</sub><br>STAMFORD, CT 06901<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-07-03 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_President and CEO_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>PATRIOT NATIONAL BANCORP INC [ PNBK ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Series A Preferred Stock | <sup>(1)(3)</sup> | 2025-07-03 |  | C<sup>(1)(3)</sup> |  |  | 19167 | <sup>(1)(3)</sup> | <sup>(1)(3)</sup> | Non-Voting Common Stock | 1533333 | <sup>(1)(3)</sup> | 0 | I | By Steven and Ainslie Sugarman Living Trust<sup>(4)</sup> |
| Non-Voting Common Stock | <sup>(1)(3)</sup> | 2025-07-03 |  | C<sup>(1)(3)</sup> |  | 1533333 |  | <sup>(1)(3)</sup> | <sup>(1)(3)</sup> | Voting Common Stock | 1533333 | <sup>(1)(3)</sup> | 1533333 | I | By Steven and Ainslie Sugarman Living Trust<sup>(4)</sup> |
| Series A Preferred Stock | <sup>(2)(3)</sup> | 2025-07-03 |  | C<sup>(2)(3)</sup> |  |  | 5833 | <sup>(2)(3)</sup> | <sup>(2)(3)</sup> | Non-Voting Common Stock | 466667 | <sup>(2)(3)</sup> | 0 | I | By Steven and Ainslie Sugarman Living Trust<sup>(4)</sup> |
| Non-Voting Common Stock | <sup>(2)(3)</sup> | 2025-07-03 |  | C<sup>(2)(3)</sup> |  | 466667 |  | <sup>(2)(3)</sup> | <sup>(2)(3)</sup> | Voting Common Stock | 466667 | <sup>(2)(3)</sup> | 466667 | I | By Steven and Ainslie Sugarman Living Trust<sup>(4)</sup> |

---

### Footnotes:

(1) On March 20, 2025, Patriot National Bancorp, Inc. (the "Issuer") completed its private placement of: (i) shares of the Issuer's voting common stock, par value $0.01 per share ("Voting Common Stock"), at a purchase price of $0.75 per share, and (ii) shares of a new series of the Issuer's preferred stock, no par value per share (the "Series A Preferred Stock"), with a liquidation preference of $60 per share (the "Private Placement"). Steven and Ainslie Sugarman Living Trust (the "Trust") purchased, as part of the Private Placement, 19,167 shares of Series A Preferred Stock, convertible into 1,533,333 shares of Voting Common Stock, subject to the limitation that no investor in the Private Placement has the right to become the beneficial owner (as determined under Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act")) of more than 9.99% of the issued and outstanding voting securities of the Issuer.

(2) The Trust was also issued 5,833 shares of Series A Preferred Stock, convertible into 466,667 shares of Voting Common Stock, as a reimbursement of the Reporting Person's legal fees and expenses relating to the Private Placement, subject to the limitation that the Reporting Person does not have the right to become, directly or indirectly, the beneficial owner of more than 9.99% of the issued and outstanding voting securities of the Issuer.

(3) On July 3, 2025, all issued and outstanding shares of Series A Preferred Stock automatically converted into shares of non-voting common stock, par value $0.01 per share ("Non-Voting Common Stock"), of the Issuer, pursuant to the terms of the Amended and Restated Certificate of Incorporation of the Issuer.  Series A Preferred Stock had no expiration date.  Each share of Non-Voting Common Stock is convertible into one share of Voting Common Stock, subject to the terms of the Amended and Restated Certificate of Incorporation of the Issuer, including the limitation that no holder of Non-Voting Common Stock has the right to become the beneficial owner (as determined under Rule 13d-3 under the Exchange Act) of more than 9.99% of the issued and outstanding voting securities of the Issuer. Voting Common Stock has no expiration date.

(4) The Trust is a revocable living trust for the benefit of the Reporting Person and his spouse. The Reporting Person and his spouse are the trustees of the Trust.

**Signature:** /s/ Steven Sugarman  
**Date:** 2025-07-08

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**