Patriot National Bancorp appoints Salas CFO, converts $2.8M debt to equity; De Tomasi named director

PATRIOT NATIONAL BANCORP INC

Unity and AmBank converted $2.8M aggregate principal/interest into 3.7M shares at $0.75/share.
Carlos Salas appointed EVP, CFO, director effective 7/30; salary $250k, bonus target 50%, 1M RSUs (3yr vest).
Mario De Tomasi appointed director effective 7/30; co-founded Commerce Home Mortgage, board member of The Change Company.
Regulatory non-objections received from Federal Reserve and OCC for both appointments.

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