Form 4: Uwharrie Capital Corp Officer R. David Beaver III Reports Changes in Beneficial Ownership
SEC Form 4 Filing
R. David Beaver III, Chief Risk Officer of Uwharrie Capital Corp, reports transactions involving the company's common stock, including acquisitions and disposals.
Summary
- R. David Beaver III, Chief Risk Officer of Uwharrie Capital Corp, filed a Form 4 with the SEC detailing changes in his beneficial ownership of the company's common stock.
- The reported transactions include the acquisition of 2,267 shares at a weighted average price of $8.82 on March 11, 2025, related to a stock grant.
- Beaver also reported the disposal of 4,998 shares held jointly with his spouse, 29,441 shares held by Cede & Co. for Pershing LLC, 3,847 shares held by Cede & Co. for his IRA, and 1,232 shares held jointly with his mother.
- The filing also includes a resolution from Uwharrie Capital Corp's Board of Directors designating reporting persons for SEC Rule 16a purposes and outlining responsibilities for pre-clearance of stock transactions.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports transactions and board resolutions.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company officers and directors. This filing indicates the transactions of a key officer at Uwharrie Capital Corp.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Designation of Reporting Persons | The Board of Directors designated individuals as Reporting Persons for SEC Rule 16a purposes. | January 21, 2025 | Ensures compliance with SEC regulations regarding insider trading reporting. |
Stakeholder Impact
- Shareholders are informed about the stock transactions of a key officer, providing transparency into insider activity.
- Employees may be impacted by the pre-clearance policy for stock transactions.
Key Dates
| Date | Description |
|---|---|
| January 21, 2025 | Date of Uwharrie Capital Corp Board of Directors meeting where the resolution regarding reporting persons was adopted. |
| March 11, 2025 | Date of the reported stock transactions (acquisition and disposals). |
| March 12, 2025 | Date of signature on the Form 4 filing. |
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