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

Director Jones Otis converted Series B Preferred Stock into 8,000 shares of Blue Ridge Bankshares common stock on June 28, 2024.

Summary

• On June 28, 2024, Jones Otis, a director of Blue Ridge Bankshares, Inc., converted Series B Preferred Stock into common stock.
• The conversion resulted in the acquisition of 8,000 shares of common stock.
• Following the transaction, Jones Otis directly owns 12,495 shares of Blue Ridge Bankshares common stock.
• The Series B Preferred Stock converted on a 1-for-4,000 basis.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing a stock conversion, which is neither inherently positive nor negative.

Industry Context

Form 4 filings are standard disclosures required by the SEC to ensure transparency in insider transactions, allowing investors to stay informed about 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