Form 4: Kenneth Lehman Reports Conversion of Preferred Stock to Common Stock in Blue Ridge Bankshares

Kenneth Lehman, a director and 10% owner of Blue Ridge Bankshares, reported the conversion of Series B Preferred Stock into 18,812,000 shares of common stock on June 28, 2024.

Summary

• On June 28, 2024, Kenneth Lehman, a director and 10% owner of Blue Ridge Bankshares, converted Series B Preferred Stock into common stock.
• The conversion resulted in Mr. Lehman acquiring 18,812,000 shares of common stock.
• Following the transaction, Mr. Lehman beneficially owns 19,998,257 shares of common stock.
• The Series B Preferred Stock converted on a 1-for-4,000 basis.

Sentiment

Score: 5

Explanation: This is a neutral event; a standard conversion of preferred stock to common stock. It doesn't inherently signal positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company insiders.

Stakeholder Impact

• The conversion of preferred stock to common stock may slightly dilute existing shareholders' equity.

Key Dates