Form 4: Blue Ridge Bankshares Director Converts Preferred Stock to Common Stock

Carolyn J. Woodruff, a director of Blue Ridge Bankshares, converted Series B Preferred Stock into 60,000 shares of common stock on June 28, 2024.

Summary

• On June 28, 2024, Carolyn J. Woodruff, a director at Blue Ridge Bankshares, converted 15 shares of Series B Mandatorily Convertible Cumulative Perpetual Preferred Stock into 60,000 shares of common stock.
• The conversion ratio was 1-for-4,000.
• Following the transaction, Woodruff directly owns 143,407.5013 shares of common stock and indirectly owns 3,387.46 shares through the Woodruff Ensley Foundation, Inc.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a stock conversion, which is a neutral event.

Industry Context

Form 4 filings are standard practice for corporate insiders to report changes in their beneficial ownership of company securities, providing transparency to the market.

Stakeholder Impact

• The conversion of preferred stock to common stock may slightly dilute existing shareholders' equity.

Key Dates