On April 2, 2024, Patriot National Bancorp, Inc. received a notice of retirement from Joseph Perillo, Chief Financial Officer of the Company and its subsidiary Patriot Bank, N.A. (the Bank), announcing his retirement and intention to continue on his current position to assist the Company during the transition period to appoint a new Chief Financial Officer, with a targeted end day of July 31, 2024. The Company has developed a plan to allow a seamless transition and potential extension of Mr. Perillo?s employment after July 31, 2024, until the Company and the Bank appoint a new Chief Financial Officer, pursuant to a previously disclosed Retention and Severance Agreement entered into on August 8, 2023, by and between the Company and Mr. Perillo. Mr. Perillo?s retirement is for personal reasons and not the result of any disagreement with the Company on any matter relating to the operations, policies, or practices of the Company and the Bank.