Patriot National Bancorp Appoints New Directors, Adjusts Executive Pay
Ticker: PNBK · Form: 8-K · Filed: May 1, 2025 · CIK: 1098146
| Field | Detail |
|---|---|
| Company | Patriot National Bancorp Inc (PNBK) |
| Form Type | 8-K |
| Filed Date | May 1, 2025 |
| Risk Level | medium |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
Related Tickers: PNBC
TL;DR
PNBC adds 2 directors, inks new exec pay deals for CEO & CFO.
AI Summary
On April 30, 2025, Patriot National Bancorp, Inc. announced changes in its board of directors and executive compensation. Specifically, the company elected two new directors, John A. Carrafiell and Michael J. McEvoy, to its Board of Directors, effective immediately. Additionally, the company entered into new employment agreements with its Chief Executive Officer, Michael J. Carrafiell, and Chief Financial Officer, Robert J. Mangiaracina, detailing their compensation and terms of employment.
Why It Matters
The appointment of new directors and changes to executive compensation can signal shifts in company strategy, governance, and future performance expectations.
Risk Assessment
Risk Level: medium — Changes in board composition and executive compensation can indicate internal shifts that may impact future business operations and financial performance.
Key Players & Entities
- Patriot National Bancorp, Inc. (company) — Registrant
- John A. Carrafiell (person) — Newly Elected Director
- Michael J. McEvoy (person) — Newly Elected Director
- Michael J. Carrafiell (person) — CEO
- Robert J. Mangiaracina (person) — CFO
- April 30, 2025 (date) — Date of earliest event reported
FAQ
Who were the new directors elected to the Board of Directors?
John A. Carrafiell and Michael J. McEvoy were elected as new directors.
When were the new directors elected?
The new directors were elected effective April 30, 2025.
What positions do Michael J. Carrafiell and Robert J. Mangiaracina hold?
Michael J. Carrafiell is the Chief Executive Officer and Robert J. Mangiaracina is the Chief Financial Officer.
What is the company's state of incorporation?
The company is incorporated in Connecticut.
What is the principal executive office address?
The principal executive office is located at 900 Bedford Street, Stamford, Connecticut 06901.
Filing Details
This Form 8-K (Form 8-K) was filed with the SEC on May 1, 2025 by John A. Carrafiell regarding PATRIOT NATIONAL BANCORP INC (PNBK).