Form 4: Uwharrie Capital Corp Director Acquires Shares as Part of Annual Retainer

Vernon A. Russell, a director at Uwharrie Capital Corp, acquired 193 shares of common stock as part of his annual retainer.

Summary

• On June 21, 2024, Vernon A. Russell, a director of Uwharrie Capital Corp, acquired 193 shares of common stock.
• The acquisition was part of his annual retainer for serving as a director.
• The shares were acquired at a price of $7.75 per share.
• Following the transaction, Russell directly owns 2,254 shares of common stock.
• Russell also indirectly owns shares through Pershing LLC Safekeeper for Edith B. Russell (Spouse of Reporting Person) TOD Dtd 03/14/2023 (229 shares) and IRA FBO Edith Bridges Russell (Spouse of Reporting Person) Pershing LLC As Custodian (2,112 shares).
• A resolution from the Uwharrie Capital Corp Board of Directors meeting on January 16, 2024, designates reporting persons for SEC Rule 16a and outlines responsibilities for stock transaction compliance.
• Tamara M. Singletary is designated as the company's contact person for stock matters and will assist with reporting forms.
• Roger L. Dick, R. David Beaver, III, Heather H. Almond, or Tamara M. Singletary are authorized to sign and file SEC Forms 3, 4, and 5 on behalf of the reporting persons.

Sentiment

Score: 7

Explanation: The document indicates a routine transaction (director's compensation) and adherence to regulatory requirements, suggesting a neutral to slightly positive sentiment.

Positives

• The acquisition of shares by a director demonstrates confidence in the company.
• The company has a clear policy and designated personnel for handling stock transactions and SEC reporting.

Industry Context

Directors receiving stock as part of their compensation is a common practice in the financial industry, aligning their interests with those of the shareholders.

Stakeholder Impact

• The stock acquisition by a director could have a slightly positive impact on shareholder confidence.

Key Dates