Form 4: Uwharrie Capital Corp's Chief Risk Officer Reports Changes in Beneficial Ownership

R. David Beaver III, Chief Risk Officer of Uwharrie Capital Corp, reports transactions involving the company's common stock, including acquisitions and disposals, as per SEC Form 4 filing.

Summary

• R. David Beaver III, the 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 transactions occurred on March 15, 2024, and include the acquisition of 2,678 shares at a weighted average price of $7.47 through a stock grant trust.
• Beaver also reported the disposal of 28,864 shares held by Cede & Co. for Pershing LLC Safekeeper, 1,208 shares held jointly with his mother, and 3,772 shares held by Cede & Co. for his IRA.
• A resolution from Uwharrie Capital Corp's Board of Directors designates certain individuals as Reporting Persons for SEC Rule 16a purposes, including Beaver.
• The resolution also outlines responsibilities for complying with the Pre-Clearance Policy for stock transactions and designates Tamara M. Singletary as the company's contact person for stock matters.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. This filing indicates the transactions of a key officer at Uwharrie Capital Corp.

Corporate Governance

Stakeholder Impact

• Shareholders are informed about the stock transactions of a key company officer.
• The filing ensures transparency and compliance with SEC regulations.

Key Dates