Form 4: Blue Ridge Bankshares Director Bost Acquires 100,000 Shares Following Preferred Stock Conversion

Director Hunter H. Bost reports acquiring 100,000 shares of Blue Ridge Bankshares common stock on June 28, 2024, following the conversion of Series B Preferred Stock.

Summary

• On June 28, 2024, Hunter H. Bost, a director of Blue Ridge Bankshares, acquired 100,000 shares of common stock.
• This acquisition resulted from the conversion of Mandatorily Convertible Cumulative Perpetual Preferred Stock, Series B, at a ratio of 1-for-4,000.
• Following the transaction, Bost directly owns 152,916.0349 shares of common stock.
• Bost also indirectly owns 18,321 shares through a parent as POA and 9,750 shares through the William S. Bost, Jr. Trust.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing detailing a stock transaction. It doesn't inherently convey positive or negative sentiment, but the conversion of preferred stock to common stock is generally viewed as neutral to slightly positive.

Positives

• The conversion of preferred stock to common stock can simplify the capital structure of Blue Ridge Bankshares.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The conversion of preferred stock to common stock may have a minor impact on shareholders due to the increased number of outstanding common shares.

Key Dates