SEC Form 4 · accession 0001437749-18-001934
PATRIOT NATIONAL BANCORP INC · PNBK
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
PNBK Sponsor LLC
10% Owner
Period of report
Jan 4, 2018
Accepted (ET)
Feb 7, 2018 · 4:38 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001098146
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Jan 4, 2018 | J | 840,000 | $0.00 | D | 2,195,000 | I | By PNBK Holdings LLC |
| Common StockF3 | Jan 4, 2018 | J | 815 | $0.00 | A | 815 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On January 4, 2018, PNBK Holdings LLC ("Holdings") conducted an in-kind distribution (the "In-Kind Distribution") of 840,000 shares of restricted common stock of the Issuer to shareholders of Holdings.
- F2PNBK Sponsor LLC ("Sponsor") is the managing member of Holdings; therefore, Sponsor may be deemed to indirectly beneficially own the shares owned by Holdings. The number of shares reported hereunder does not include 325,000 shares owned by Holdings with respect to which Fabrizio Bentivoglio has sole voting and dispositive power.
- F3On January 4, 2018, Sponsor received 815 shares of common stock in the In-Kind Distribution.