Angie Miranda
PATRIOT NATIONAL BANCORPAbout Angie Miranda
Angie Miranda, age 39, was appointed Executive Vice President and Chief Risk Officer of Patriot Bank, N.A. effective May 6, 2025. She previously served as Chief Risk Officer and BSA Officer at The Change Company CDFI LLC since September 2018, and as Chief Risk Officer of Change Lending, LLC (f/k/a Commerce Home Mortgage) through August 2023; prior to that she was a National Bank Examiner (OCC) and a Federal Thrift Regulator (OTS). She holds a B.S. in Business Administration (Corporate Finance & Real Estate Finance) from USC’s Marshall School of Business . Company-level TSR and revenue/EBITDA growth metrics tied specifically to her tenure are not disclosed in filings reviewed; her appointment was part of a broader post-Private Placement leadership restructuring .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| The Change Company CDFI LLC | Chief Risk Officer, BSA Officer | Sep 2018–May 2025 | Led enterprise risk and BSA/AML during growth phase; cross-entity oversight at affiliated businesses . |
| Change Lending, LLC (f/k/a Commerce Home Mortgage) | Chief Risk Officer | Sep 2018–Aug 2023 | Built lending risk framework; de-risked mortgage platform . |
| Office of the Comptroller of the Currency (U.S. Treasury) | National Bank Examiner (Western District) | Jul 2011–Aug 2018 | Ongoing supervision of large community banks in Southern California; regulatory examinations and monitoring . |
| Office of Thrift Supervision (U.S. Treasury) | Federal Thrift Regulator | Jul 2007–Jul 2011 | Safety and soundness oversight; thrift supervision prior to OTS integration into OCC . |
| Patriot National Bancorp, Inc. (pre-appointment) | Consultant/Advisor | Early 2025 | Facilitated closing of Mar 20, 2025 Private Placement and helped remediate Jan 15, 2025 Formal Agreement; basis for employment terms . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| OCC (U.S. Treasury) | National Bank Examiner | Jul 2011–Aug 2018 | Regulatory oversight of community banks (external government role) . |
| OTS (U.S. Treasury) | Federal Thrift Regulator | Jul 2007–Jul 2011 | Regulatory oversight of thrifts (external government role) . |
Fixed Compensation
| Component | Terms |
|---|---|
| Base Salary | $350,000 per year minimum, payable per normal payroll; reviewed annually; not subject to reduction after any increase . |
| Target Annual Bonus | At least 50% of base salary, prorated for partial year; payable in cash or equity under the 2025 Omnibus Equity Incentive Plan . |
| Base Salary Review Factors | Improvements in profitability, regulatory standing, asset size, growth, overall financial/operational performance . |
Performance Compensation
Restricted Stock Units (RSUs) – Initial Equity Award
| Grant Vehicle | Quantity | Vesting | Settlement | Change-of-Control Treatment | Termination Treatment |
|---|---|---|---|---|---|
| RSUs under 2025 Omnibus Equity Incentive Plan | 450,000 RSUs representing the right to receive common shares | Service-based vesting in three equal annual installments beginning Apr 30, 2026 (i.e., Apr 30, 2026; Apr 30, 2027; Apr 30, 2028) | Within 10 business days of vesting/restricted period end: cash equal to 1 share per RSU if plan not approved; or 1 share per RSU if plan approved . | No changes to vesting or restricted period upon Change of Control . | No changes to vesting or restricted period upon termination; company may terminate rights to unvested RSUs if employment/officer/director roles all terminate . |
Vesting Schedule Detail
| Vest Date | RSUs Vesting | Conditions | Settlement Window |
|---|---|---|---|
| Apr 30, 2026 | 150,000 | Continued employment through vest date | No later than 10 business days post-vesting/restricted period end; cash if plan not approved; shares if approved . |
| Apr 30, 2027 | 150,000 | Continued employment through vest date | Same as above . |
| Apr 30, 2028 | 150,000 | Continued employment through vest date | Same as above . |
RSU transfer/pledge restrictions: RSUs may not be sold, assigned, transferred, pledged, attached, or otherwise encumbered (subject to plan exceptions) .
Equity Ownership & Alignment
| Category | Value |
|---|---|
| Beneficial Ownership (Record Date shares outstanding: 76,259,670) | “—” shares; percent of class “*” (<1%) as of record date . |
| Initial Equity Award Alignment | 450,000 service-vest RSUs over 3 years; settlement contingent on plan approval; no CoC acceleration . |
| Pledging | RSUs explicitly non-transferable and non-pledgeable; no pledging of common shares disclosed . |
| Ownership Guidelines | Not disclosed in filings reviewed. |
| Vested vs Unvested | All RSUs unvested until Apr 30, 2026; equal tranches thereafter . |
Employment Terms
| Term | Detail |
|---|---|
| Role & Effective Dates | EVP, Chief Risk Officer of the Bank effective May 6, 2025 . |
| Agreement Date | Employment Agreement dated Apr 30, 2025 . |
| Employment Period | Ends Apr 30, 2028; auto-renews starting Apr 30, 2027 to maintain a 2-year term unless notice of non-renewal is given . |
| Regulatory Non-Objection | Serves in non-policy-making role until OCC and Federal Reserve non-objections; then assumes EVP/CRO responsibilities . |
| Location | Stamford, Connecticut or other mutually agreeable location; office at corporate HQ . |
| Legal Fees Provision | Company agrees to pay reasonable legal fees/expenses as incurred if Executive prevails on at least one material claim in any contest of agreement validity/enforceability/liability . |
Investment Implications
- Retention risk vs alignment: Three-year, service-based RSU schedule with no change-of-control acceleration and termination terms that do not accelerate vesting binds value realization to tenure, supporting retention and alignment with stabilization goals (regulatory remediation, profitability) .
- Near-term selling pressure watchpoints: If the Omnibus Plan is approved, share settlement will occur within 10 business days post-vesting; first vest is Apr 30, 2026. If not approved, cash-settlement is required, which reduces equity overhang but alters cash commitments—both scenarios create timing-linked trading signals around vest dates .
- Pay-for-performance levers: Base salary reviews explicitly tie to improvements in profitability, regulatory standing, and growth—this creates measurable evaluation criteria, though specific annual bonus metrics/weightings are not disclosed; monitor Compensation Committee disclosures for FY25/FY26 to assess payout-quality .
- Skin-in-the-game: As of the 2025 proxy record date, Miranda reported no beneficial ownership; alignment relies primarily on the 450,000 RSU grant over three years, and RSU non-pledgeability mitigates hedging/pledging risk .
- Execution context: The employment agreement highlights her role in facilitating the March 20, 2025 Private Placement and remediation of the Jan 15, 2025 Formal Agreement, indicating mandate focus on regulatory risk reduction—a critical value-creation driver for banking turnaround narratives .