---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-038629"
form_type: "8-K"
ticker: "PNBK"
cik: "0001098146"
company_name: "PATRIOT NATIONAL BANCORP INC"
filed_at: "2024-12-31T23:59:59+00:00"
generated_at: "2026-05-28T21:27:06.372155+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Patriot National Bancorp appoints Steven Sugarman as President and director to lead strategic restructuring

## Summary
- Steven Sugarman appointed President and board member effective December 30, 2024.
- Annual base salary of $120,000 until successful capital raise; discretionary bonus after offering.
- Company exploring capital raise, strategic partnerships, sale, or M&A to maximize shareholder value.
- Sugarman founded Banc of California, Inc. and has experience in regulatory compliance and capital markets.
- Appointment aims to address capital, operational, and regulatory deficiencies identified by regulators.

## SEC filing metadata
- accession: 0001437749-24-038629
- form_type: 8-K
- ticker: PNBK
- cik: 0001098146
- company_name: PATRIOT NATIONAL BANCORP INC
- filed_at: 2024-12-31T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1098146/000143774924038629/0001437749-24-038629-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1098146/000143774924038629/pnbk20241231_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-038629
- JSON: https://secwatch.observer/filing/0001437749-24-038629.json
- Plain text: https://secwatch.observer/filing/0001437749-24-038629.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.