Form 4: Blue Ridge Bankshares CEO Acquires 400,000 Shares Through Preferred Stock Conversion

G. William Beale, President & CEO of Blue Ridge Bankshares, acquired 400,000 shares of common stock on June 28, 2024, through the conversion of Series B Preferred Stock.

Summary

• G. William Beale, the President & CEO of Blue Ridge Bankshares, acquired 400,000 shares of common stock on June 28, 2024.
• The acquisition resulted from the conversion of Mandatorily Convertible Cumulative Perpetual Preferred Stock, Series B.
• The Series B Preferred Stock converted into common stock on a 1-for-4,000 basis.
• Following the transaction, Beale directly owns 226,477 shares of common stock and indirectly owns 400,000 shares through the G. William Beale Revocable Living Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document simply reports a transaction. It doesn't inherently indicate positive or negative implications for the company's performance.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests between management and shareholders.

Stakeholder Impact

• The transaction may have a minor impact on shareholders by slightly diluting the existing shares, but the overall impact is likely minimal given the size of the transaction relative to the company's total outstanding shares.

Key Dates