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

Director Robert S. Janney converts Series B Preferred Stock into 40,000 shares of Blue Ridge Bankshares common stock on June 28, 2024.

Summary

• Robert S. Janney, a director of Blue Ridge Bankshares, converted Mandatorily Convertible Cumulative Perpetual Preferred Stock, Series B, into common stock on June 28, 2024.
• The conversion resulted in the acquisition of 40,000 shares of common stock.
• The Series B Preferred Stock converted on a 1-for-4,000 basis.
• Following the transaction, Janney directly owns 83,550 shares of common stock and indirectly owns 77,302 shares through Janney Investments LLC.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a stock conversion, with no inherent positive or negative sentiment.

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 slight dilutive effect on existing shareholders.

Key Dates