secwatch.observer — SEC 8-K summary
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Issuer:     PATRIOT NATIONAL BANCORP INC (PNBK)
CIK:        0001098146
Form:       8-K
Filed at:   2025-08-26T23:59:59+00:00
Accession:  0001628280-25-041173
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 4.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1098146/000162828025041173/0001628280-25-041173-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1098146/000162828025041173/pnbk-20250820.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-041173

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer