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

Director Trevor Montano reports the conversion of Series B Preferred Stock and related warrants into common stock of Blue Ridge Bankshares, Inc.

Summary

• Trevor Montano, a director of Blue Ridge Bankshares, Inc., filed a Form 4 detailing changes in his beneficial ownership.
• On June 28, 2024, Montano converted Series B Preferred Stock into 227,369.24 shares of common stock directly and 244,630.76 shares indirectly through a managed account.
• Additionally, warrants related to the Series B Preferred Stock were converted, resulting in Montano holding 121,392 warrants directly and 130,607 warrants indirectly, exercisable for common stock.
• The conversion of the Series B Preferred Stock was on a 1-for-4,000 basis.
• The Series B Warrant became exercisable to purchase shares of Common Stock (reflecting a conversion on a 1-for-4,000 basis) at a price of $2.50 per share, subject to certain adjustments.

Sentiment

Score: 5

Explanation: This is a neutral filing, simply reporting a conversion of securities. It doesn't inherently indicate positive or negative sentiment.

Industry Context

Form 4 filings are routine disclosures required by the SEC to ensure transparency in insider trading activities. This filing indicates a change in the holdings of a key insider at Blue Ridge Bankshares.

Key Dates