Form 4: Blue Ridge Bankshares Director Converts Preferred Stock to Common Stock
SEC Form 4 Filing
Director Mensel D. Dean converts Series B Preferred Stock into 100,000 shares of common stock in Blue Ridge Bankshares.
Summary
- Mensel D. Dean, a director of Blue Ridge Bankshares, converted Series B Preferred Stock into common stock on June 28, 2024.
- The conversion resulted in the acquisition of 100,000 shares of common stock.
- Following the transaction, Dean directly owns 13,510 shares and indirectly owns 199,848 shares through the Mensel D. Dean, Jr. Revocable Trust and 2,500 shares through the Linda T. Dean Revocable Trust.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing a stock conversion, with no inherent positive or negative sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC to ensure transparency in insider trading activities, providing investors with insights into the actions of company directors and officers.
Stakeholder Impact
- The conversion of preferred stock to common stock may slightly dilute existing shareholders' equity.
Key Dates
| Date | Description |
|---|---|
| 06/28/2024 | Date of transaction: conversion of Series B Preferred Stock to Common Stock |
| 07/02/2024 | Date of signature by Attorney-in-Fact |
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