Form 4: Blue Ridge Bankshares Director Patterson Acquires 40,000 Shares Through Preferred Stock Conversion

Director Julien G. Patterson acquired 40,000 shares of Blue Ridge Bankshares common stock through the conversion of Series B Preferred Stock.

Summary

• On June 28, 2024, Julien G. Patterson, a director of Blue Ridge Bankshares, Inc., acquired 40,000 shares of common stock.
• This acquisition resulted from the conversion of Mandatorily Convertible Cumulative Perpetual Preferred Stock, Series B.
• The Series B Preferred Stock converted into common stock on a 1-for-4,000 basis.
• Following the transaction, Patterson directly owns 294,088.9177 shares of common stock.
• Patterson also indirectly owns 40,000 shares through the Julien G. Patterson, Revocable Trust, dated 2/14/2023.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing a stock transaction. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in the financial industry. It provides transparency into the trading activities of company insiders.

Stakeholder Impact

• The transaction may have a minor impact on shareholders due to the increase in the number of outstanding common shares.

Key Dates