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Patriot National Bancorp Executive Compensation (FY25)

PNBK · Executive and director compensation, fiscal 2024 to 2025
Data as of September 7, 2026Latest filing (DEF 14A): April 27, 2026
102 figures on this page: 100 cited to the filing that reported them, 2 calculated from figures it prints. See the citations
For fiscal 2023, shareholders backed the say-on-pay proposal with 94.4% of votes cast for or against in favor at the meeting held December 18, 2024, and for fiscal 2025, the company reported 4 named executive officers. Figures cover fiscal 2024 through fiscal 2025.
Latest say-on-pay support
=
December 18, 2024
This company is not required to report a chief executive pay ratio.
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive of record: David Lowery → Steven Sugarman

Frequently asked questions

Answers drawn from the data on this page.
What was Patriot National Bancorp's say-on-pay result?
For fiscal 2023, shareholders backed the say-on-pay proposal with 94.4% of votes cast for or against in favor at the meeting held December 18, 2024.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Joseph Perillo
Former Chief Financial Officer
Departed during or after this year
◇◇————◇◇
Alfred Botta
Executive Vice President and Chief Payments Officer of the Bank
◇◇————◇◇
David Lowery
Former Chief Executive Officer of the Company and former President and Chief Executive Officer of the Bank
Departed during or after this year
◇—◇———◇◇
Thomas Slater
Former Executive Vice President and Chief Credit Officer of the Bank
Departed during or after this year
◇◇◇———◇◇
Steven Grunblatt
Executive Vice President and Chief Information Officer of the Bank
◇—◇———◇◇
David Finn
Former Chief Financial Officer
Departed during or after this year
◇——————◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Steven Sugarman
President and Chief Executive Officer of the Company; President and Chief Executive Officer of the Bank
◇◇◇———◇◇
William Simmons
Executive Vice President and Chief Credit Officer of the Bank
◇◇◇———◇◇
Carlos Salas
Chief Financial Officer of the Company; Chief Financial Officer of the Bank
◇◇◇———◇◇
David Lowery
Former Chief Executive Officer of the Company; former President and Chief Executive Officer of the Bank
Departed during or after this year
◇—————◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Carlos P. SalasRSU———◇——◇
Steven A. SugarmanRSU◇——◇——◇
Steven A. SugarmanRSU◇——◇——◇
Steven A. SugarmanRSU◇——◇——◇
Steven A. SugarmanRSU◇——◇——◇
William Paul SimmonsRSU——————◇
Fiscal 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Steven SugarmanRSU◇◇——
Carlos SalasRSU◇◇——
William SimmonsRSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Jeffrey Seabold
◇◇◇——◇◇
Mario De Tomasi
◇◇————◇
Michael A. Carrazza
◇◇————◇
Edward N. Constantino
◇◇————◇
Anahit Magzanyan
Lead independent director
◇◇————◇
Emile Van den Bol
◇◇————◇
Jonathan Roth
◇◇————◇
Ida Liu
◇◇————◇
Carlos P. Salas and Steven A. Sugarman served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2023December 18, 2024=◇◇◇
2020December 22, 2021=◇◇◇
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What this page does not include

Everything above is a fact Patriot National Bancorp disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
102 figures on this page: 100 cited to the filing that reported them, 2 calculated from figures it prints.
100 cited to the filing
2 calculated from the filing

Documents cited

  1. 0001140361-26-017156
    DIRECTOR COMPENSATION · Director Compensation · EXECUTIVE COMPENSATION · Outstanding Equity Awards at Fiscal Year End · and 1 more section
  2. 0001140361-25-020413
    Summary Compensation Table
  3. 0001437749-24-038280
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001437749-21-029108
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Patriot National Bancorp executive compensation, FY2024–FY2025.” https://intel.velarion.ai/comp/PNBK (accessed 2026).
Short form: data: Velarion
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The headline figures, each with its citation.
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Banking rankings

Chief executive pay — BankingCEO pay ratio — BankingSay-on-pay support — Banking

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
For informational purposes only. Not investment, legal, or compensation advice.  The Pay Desk · Methodology · Terms · Privacy