Patriot National Bancorp dismisses RSM, taps Baker Tilly as auditor; CEO Sugarman to become Chairman

PATRIOT NATIONAL BANCORP INC

RSM US LLP dismissed as auditor on Aug 22, 2025; Baker Tilly appointed for fiscal 2025. No disagreements or reportable events.
Independent directors of company receive $50K cash + $75K RSU annually; bank directors get $20K cash + $25K RSU.
Committee chair cash awards set: Audit $15K, Risk/Compliance $10K, Credit Sub $10K, others $5K each.
CEO Steven Sugarman appointed Chairman of the Board effective Oct 1, 2025; Michael Carrazza steps down as Chairman, remains director.
Anahit Magzanyan appointed Lead Independent Director effective Oct 1, 2025.

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