Form 4: Uwharrie Capital Corp Director Receives Stock
Statement of Changes in Beneficial Ownership
Uwharrie Capital Corp Director Vernon A. Russell acquired company common stock as part of his annual retainer, with 132 shares valued at $11.293 each.
Summary
- Vernon A. Russell, a Director of Uwharrie Capital Corp, received 132 shares of common stock on June 17, 2026.
- This acquisition was part of his annual retainer for serving as a Director.
- The shares were acquired at a weighted average price of $11.293 per share.
- Following this transaction, Mr. Russell beneficially owns 2,989 shares directly.
- Additionally, he has indirect beneficial ownership of 6,422 shares held in an IRA for his spouse, Edith Bridges Russell, and 442 shares held by Pershing LLC as a safekeeper for his spouse.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral filing, as it represents a routine disclosure of director compensation in the form of stock, with no significant positive or negative implications for the company's financial health or strategic direction.
Positives
- Director compensation includes equity, aligning management interests with shareholders.
- The company is transparently reporting these transactions as required by SEC regulations.
Future Outlook
This filing does not contain forward-looking statements or guidance.
Industry Context
StockSavvy.ai notes that the issuance of stock as part of director compensation is a common practice across the financial services industry, aimed at aligning executive and director interests with those of shareholders.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Reporting Person Designation | The Board of Directors designated specific individuals, including directors and officers, as Reporting Persons for SEC Rule 16a compliance. | 2026-01-20 | Ensures compliance with SEC reporting requirements for insider transactions. |
| Stock Transaction Policy | Established a Pre-Clearance Policy for Uwharrie Capital Corp Stock Transactions, requiring notification to the designated contact person prior to any transaction. | 2026-01-20 | Aims to prevent violations of Rule 16a and 16b by providing oversight on insider trading activities. |
| Signature Authorization | Authorized specific individuals (Roger L. Dick, R. David Beaver, III, Heather H. Almond, or Tamara M. Singletary) to sign and file SEC Forms 3, 4, and 5 on behalf of reporting persons. | 2026-01-20 | Streamlines the filing process for SEC reporting requirements. |
Related Party Transactions
- Vernon A. Russell, a Director, received common stock as part of his annual retainer, which is a related party transaction between the company and its director.
Stakeholder Impact
- Shareholders: The issuance of stock as compensation aligns director interests with shareholders, potentially leading to better corporate governance and decision-making.
Key Dates
| Date | Description |
|---|---|
| 01/20/2026 | Date of Uwharrie Capital Corp Board of Directors meeting where resolutions were passed regarding reporting persons and stock transaction policies. |
| 03/14/2023 | Date of Trust Document (TOD) related to a safekeeper account for Edith B. Russell. |
| 06/17/2026 | Transaction date for the acquisition of common stock by Vernon A. Russell. |
| 06/18/2026 | Date of signature for the Form 4 filing. |
Keywords
Form 4, SEC Filing, Insider Transaction, Director Compensation, Uwharrie Capital Corp, UWHR, Common Stock, Beneficial Ownership
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