Form 4: Uwharrie Capital Corp Director Vernon A. Russell Reports Share Transfers

Director Vernon A. Russell of Uwharrie Capital Corp reported the transfer of 100 common shares from a brokerage IRA to a brokerage Safekeeper account, with no monetary exchange.

Summary

• Vernon A. Russell, a director at Uwharrie Capital Corp, reported a transaction involving the transfer of 100 common shares.
• The shares were moved from a brokerage IRA to a brokerage Safekeeper account.
• No money was exchanged in this transaction, as it was a transfer between accounts.
• Following the transaction, Mr. Russell indirectly owns 2,054 shares through an IRA and 333 shares through a Safekeeper account held by his spouse, Edith Bridges Russell.
• Mr. Russell also directly owns 6,235 shares and 2,299 shares.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing a share transfer, which is neither positive nor negative for the company's performance.

Industry Context

This is a routine filing related to changes in beneficial ownership by a company director, which is a common practice in publicly traded companies.

Comparison to Industry Standards

• Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, such as directors and officers, in accordance with SEC regulations.
• The transfer of shares between accounts without monetary exchange is a common type of transaction reported in Form 4 filings.
• Similar filings are made by directors and officers of all publicly traded companies in the US.

Stakeholder Impact

• The share transfer has no direct impact on shareholders, employees, customers, suppliers, or creditors as it is an internal transfer of shares.

Key Dates

Keywords

Uwharrie Capital Corp, Vernon A. Russell, share transfer, beneficial ownership, director, common stock, IRA, Safekeeper account