Form 4: Blue Ridge Bankshares EVP Judy Carol Gavant Converts Preferred Stock to Common Stock

Judy Carol Gavant, EVP & Chief Financial Officer of Blue Ridge Bankshares, converted Series B Preferred Stock into 100,000 shares of common stock on June 28, 2024.

Summary

• On June 28, 2024, Judy Carol Gavant, the EVP & Chief Financial Officer of Blue Ridge Bankshares, converted Series B Preferred Stock into common stock.
• The transaction involved the conversion of Mandatorily Convertible Cumulative Perpetual Preferred Stock, Series B, into 100,000 shares of common stock.
• The conversion ratio was 1-for-4,000.
• Following the transaction, Gavant directly owns 216,882 shares of common stock and indirectly owns 33 shares through an ESOP.

Sentiment

Score: 5

Explanation: This is a routine filing related to a stock conversion, and doesn't inherently indicate positive or negative sentiment. It's a neutral event from an investment perspective.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency regarding the transactions of company insiders. This filing indicates a change in Gavant's holdings, specifically a conversion of preferred stock to common stock.

Stakeholder Impact

• The conversion of preferred stock to common stock may have a slight dilutive effect on existing common shareholders.

Key Dates