PNBK PATRIOT NATIONAL BANCORP INC Insider Trading

PNBK Director Tomasi bought 85,000 shares at $0.96; holdings now 187,719 shares (+82.8%); stock down -80.0% from 52-week high, company unprofitable.

Tomasi Mario De, a director of PATRIOT NATIONAL BANCORP, acquired 85,000 shares at $0.96, increasing his position by 82.8% to 187,719 shares total. The purchase occurs amid significant headwinds: PNBK trades at $1.08, down -80.0% from its 52-week high of $5.40, and the company reported a net loss of $-1.8M in its most recent full fiscal year. Directors buying into loss-making companies at depressed valuations merit investor attention, but the circumstances here—steep year-to-date decline, negative profitability, and a 30-day decline of -12.2%—warrant scrutiny into whether this reflects genuine conviction in turnaround prospects or a portfolio action with limited strategic visibility. The filing stands as factual evidence of insider accumulation but does not itself clarify management's forward outlook.

Director Tomasi Mario De bought 87,719 shares of PNBK at $1.15, raising holdings 584.8%, as stock trades -82.7% from 52-week high and company posted $-1.8M net income.

Tomasi Mario De, as Director, purchased 87,719 shares at $1.15 on 2026-05-20, increasing his position from 15,000 shares to 102,719 shares. The acquisition occurred against a backdrop of significant stock deterioration: the current price of $1.07 sits -82.7% from the 52-week high of $6.20, with 30-day and 90-day declines of -18.9% and -15.1% respectively. Concurrently, Patriot National Bancorp reported full-year net income of $-1.8M, indicating the company was unprofitable over its most recent full fiscal year. The transaction represents a substantial concentration increase (584.8% growth in holdings) at a depressed valuation relative to recent trading range, occurring while fundamental performance deteriorated.

Director Magzanyan bought 1,450 shares at $0.00 across 4 transactions; stock down 80.5% from 52-week high amid negative earnings.

Magzanyan Anahit, a Director, executed 4 separate purchases totaling 1,450 shares for $0.00, increasing her holdings by 51.1% from 2,840 to 4,290 shares. The $0.00 transaction prices suggest a non-cash acquisition such as a dividend reinvestment, warrant exercise, or equity compensation vest rather than an open-market buy signal. The timing spans multiple dates from July 2025 through March 2026, indicating routine or scheduled transactions. Notably, the company reported net income of $-2,657,000 for its most recent full fiscal year, and the stock is trading at $1.31, down 80.5% from its 52-week high and down 17.6% over the past 90 days. Without additional context on the mechanism and timing of these zero-dollar acquisitions, the filing does not clearly signal directional conviction about the stock's value at current market prices.

President Steven Sugarman buys 7,019,978 shares at $0.75 in PNBK; stock -69.4% from 52-week high as company posts $-26,954,000 annual loss.

President Steven Sugarman purchased 7,019,978 shares at $0.75 for a total value of $5,264,983.50, establishing his first position in the company. The transaction is notable given the company's severe financial distress: net income was $-26,954,000 for the full fiscal year, the market cap stands at just $4,811,048.33, and the stock trades 69.4% below its 52-week high of $3.96. The purchase occurred as the stock recovered 11.0% over the prior 30 days but remains down 37.6% over 90 days. This insider acquisition of a substantial position at depressed price levels in a loss-making company with deeply challenged fundamentals warrants scrutiny of whether this reflects insider confidence in a turnaround strategy or other considerations.