Anahit Magzanyan
PATRIOT NATIONAL BANCORPAbout Anahit Magzanyan
Anahit Magzanyan (age 50) was elected to the Board of Patriot National Bancorp, Inc. (PNBK) on June 26, 2025 and appointed Lead Independent Director effective October 1, 2025. She holds a BA from California State University, Northridge and an MBA from University of La Verne, with a background in media, operations, revenue strategy, and financial oversight .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Los Angeles Times Studios | President | Sep 2024 – Present | Leads audio/video/streaming content, business operations, revenue strategy, and financial oversight |
| Los Angeles Times | Chief of Staff to Executive Chairman; Chief Strategy & Revenue Officer | Mar 2020 – Present | Oversees strategy and revenue across businesses and affiliates |
| Los Angeles Business Journal | President & CEO | Jan 2017 – Jan 2020 | Oversaw CFO and finance department; led award-winning business publication |
External Roles
- The proxy biography lists executive roles in media; no other public company directorships are disclosed for Ms. Magzanyan .
Board Governance
| Item | Detail | Citation |
|---|---|---|
| Board election | Elected at Annual Meeting on June 26, 2025 | |
| Independence | Qualifies as independent under Nasdaq if elected; subsequently serves as Independent Director | |
| Lead Independent Director | Appointed Lead Independent Director effective Oct 1, 2025 | |
| Committee assignments | Not disclosed for Ms. Magzanyan as of available filings; 2024 committees were Constantino/Van den Bol/Weinbaum (Audit, Compensation, Nominating) | |
| Shareholder vote (2025 election) | For: 72,930,258; Withheld: 35,897; Broker non-votes: 1,144,547 | |
| Board/committee activity (context) | Audit Committee met 10 times in 2024; Compensation 4; Nominating 2 | |
| Attendance | 2023 attendance ≥75% for incumbents; not applicable to Ms. Magzanyan (joined 2025) |
Fixed Compensation
| Component | 2024 Structure (legacy) | 2025 Update (effective Jul 1, 2025) |
|---|---|---|
| Board cash retainer | $19,100 annual retainer; $1,150 per Board meeting; $375–$750 per committee meeting; Chair add’l $3,000–$9,200; Board fees suspended Nov 2024 | |
| Company independent director cash | — | $50,000 annual cash compensation |
| Bank independent director cash | — | $20,000 annual cash compensation (if serving on Bank Board) |
| Committee chair cash (add’l) | $3,000–$9,200 per year (legacy) | Audit $15,000; Compensation/Nominating/Governance $5,000; Strategic & Executive $5,000; Enterprise Risk & Compliance $10,000; Credit Subcommittee $10,000; Community Development $5,000 |
Performance Compensation
| Equity Instrument | Grant Date | Grant Value | Vesting Terms | Notes |
|---|---|---|---|---|
| 2024 Director Restricted Stock (legacy) | 2024 | ~$14,346 grant-date fair value per non-employee director | Vests in four equal annual installments starting 1st anniversary | |
| 2025 Company Independent Director RSUs | Jul 1, 2025 (initial grant date) | $75,000 grant-date value annually | Vesting schedule for director RSUs not disclosed in 8-K; RSUs issued under 2025 Plan | |
| 2025 Bank Independent Director RSUs | Jul 1, 2025 (initial grant date) | $25,000 grant-date value annually | Vesting schedule not disclosed in 8-K; RSUs issued under 2025 Plan |
No performance metrics (TSR, revenue, ESG) are disclosed for director equity awards; the 2025 Omnibus Equity Incentive Plan permits performance units broadly but filings specify RSUs for independent directors without metrics .
Other Directorships & Interlocks
- No current public company board roles for Ms. Magzanyan are disclosed in the proxy; external roles are executive positions in media organizations (Los Angeles Times ecosystem) .
- No disclosed interlocks or transactions involving Ms. Magzanyan with PNBK customers/suppliers. Related-party designations in 2025 nominations reflect investor-designated director Abady; not applicable to Ms. Magzanyan .
Expertise & Qualifications
- Education: BA (California State University, Northridge); MBA (University of La Verne) .
- Core qualifications: General business leadership; revenue strategy; operational oversight; financial oversight responsibilities in media organizations .
- Board notes: Company cites her “extensive experience in general business matters” as rationale for nomination .
Equity Ownership
| Metric | As of Record Date (May 16, 2025) |
|---|---|
| Beneficial ownership (shares) | 0; less than 1% of class |
| Ownership % | <1% |
Shareholder voting power at election indicates strong support: 72,930,258 votes “For” her election, 35,897 “Withheld,” 1,144,547 broker non-votes .
Governance Assessment
- Independence and leadership: Confirmed independent under Nasdaq and appointed Lead Independent Director effective Oct 1, 2025—positive for board oversight and investor confidence .
- Compensation mix shift: 2025 changes materially increase director pay and tilt to equity ($75k RSUs vs prior ~$14k restricted stock and meeting-based cash), indicating stronger equity alignment but notable pay escalation; fees were suspended in Nov 2024 and then reset mid-2025 .
- Committee roles: No committee assignments for Ms. Magzanyan disclosed to date; board’s key committees (Audit/Comp/Nominating) were chaired by other independent directors in 2024—monitor future committee placement for oversight influence .
- Ownership alignment: As of May 2025, she held no shares; annual RSU grants from Jul 1, 2025 should begin building alignment. No pledging/hedging specifics disclosed for directors; Company lacks a formal anti-hedging policy, which is a governance gap to monitor (RED FLAG potential) .
- Shareholder support: Strong vote in favor at 2025 Annual Meeting supports legitimacy of appointment (confidence signal) .
- Conflicts/related-party exposure: None disclosed for Ms. Magzanyan; her external roles are in media, with no reported transactions with PNBK (clean on related-party risk in filings) .
Policies and controls: Clawback policy applies to executive officers (not directors); Audit Committee reported robust activity (10 meetings in 2024), and independence across key committees is maintained—overall governance framework remains intact .