-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, C9V/vjNUsIxVd3LKIQcft5UQjizTCBZzxdaJvje5FJxCH4hW3RCiuvFL7OjBfmKg qg88NS4F51Cw+NYeEjMHZA== 0000914260-09-000103.txt : 20090323 0000914260-09-000103.hdr.sgml : 20090323 20090323172023 ACCESSION NUMBER: 0000914260-09-000103 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20090319 ITEM INFORMATION: Other Events FILED AS OF DATE: 20090323 DATE AS OF CHANGE: 20090323 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PATRIOT NATIONAL BANCORP INC CENTRAL INDEX KEY: 0001098146 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 061559137 STATE OF INCORPORATION: CT FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-29599 FILM NUMBER: 09699476 BUSINESS ADDRESS: STREET 1: 900 BEDFORD ST CITY: STAMFORD STATE: CT ZIP: 06901 BUSINESS PHONE: 2033247500 8-K 1 pnbk8k-031909.htm PATRIOT NATIONAL BANCORP, INC. 8-K 03 19 09 pnbk8k-031909.htm
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
 
Date of Report (Date of earliest event reported):  March 19, 2009
 
Patriot National Bancorp, Inc.
(Exact name of registrant as specified in its charter)

Connecticut
000-29599
06-1559137
(State or other jurisdiction of incorporation)
(Commission File Number)
(IRS Employer Identification No.)

900 Bedford Street, Stamford, Connecticut  06901
(Address of principal executive offices)

(203) 324-7500
(Registrant's telephone number, including area code)

N/A
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 

TABLE OF CONTENTS
 
Item 8.01
Other
SIGNATURES
 

 

Item 8.01
Other
   
 
Angelo De Caro, Chairman of Patriot National Bancorp, Inc. ("PNBK") expects that a significant portion of his substantial investment in PNBK may be sold out of pledge at an independent financial institution. Mr. De Caro has pledged shares of PNBK with that other institution in connection with loans taken to support business activity unrelated to PNBK. The sales are being made by the third party institution and Mr. De Caro has no control over that decision, the timing or volume of sales. Mr. De Caro has owned most of his holdings in PNBK for over approximately a decade, and all of his shares were purchased by him in arms length transactions at an average price substantially exceeding current market. No shares have been received from PNBK as restricted shares or via stock options.
 
Mr. De Caro further indicated that his holdings of more than 740,000 shares, or more than 16% of PNBK outstanding shares, represent a significant portion of his total net worth. He intends to maintain his relationship with PNBK and hopes to remain among its largest shareholders; however his ability to do that will depend largely on the stock price of PNBK as the shares are sold out of pledge by the third party institution.


SIGNATURES
   
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
   
 
PATRIOT NATIONAL BANCORP, INC.
 
Registrant
   
   
   
March 23, 2009
By:  /s/ Robert F. O'Connell           _____________________
 
Robert F. O'Connell
 
Senior Executive Vice President
 
and Chief Financial Officer



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