Blue Ridge Bankshares (BRBS) director receives 10,460-share stock grant
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Patterson Julien G reported acquisition or exercise transactions in this Form 4 filing.
BLUE RIDGE BANKSHARES, INC. director Julien G. Patterson received a grant of 10,460 shares of common stock at $3.59 per share as compensation. Footnotes state the stock was received in lieu of cash compensation and is restricted stock subject to a vesting schedule.
Following this grant, Patterson directly holds 319,723.9178 common shares and indirectly holds 40,000 common shares through the Julien G. Patterson Revocable Trust dated February 14, 2023.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Patterson Julien G
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 10,460 | $3.59 | $38K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 319,723.918 shares (Direct, null);
Common Stock — 40,000 shares (Indirect, Julien G. Patterson, Revocable Trust, dated 2/14/2023)
Footnotes (1)
- Stock received in lieu of cash compensation Restricted stock subject to a vesting schedule
Key Figures
Stock grant size: 10,460 shares
Grant valuation price: $3.59 per share
Direct holdings after grant: 319,723.9178 shares
+1 more
4 metrics
Stock grant size
10,460 shares
Common stock grant to director at $3.59 per share
Grant valuation price
$3.59 per share
Valuation used for 10,460-share compensation grant
Direct holdings after grant
319,723.9178 shares
Director’s directly owned BRBS common stock after transaction
Indirect holdings via trust
40,000 shares
Common stock held through revocable trust
Key Terms
Restricted stock, vesting schedule, Revocable Trust, grant/award acquisition
4 terms
Restricted stock financial
"Restricted stock subject to a vesting schedule"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
vesting schedule financial
"Restricted stock subject to a vesting schedule"
A vesting schedule is a timeline that determines when someone gains full ownership of certain benefits, such as company stock or retirement contributions. Think of it like earning the right to own a gift gradually over time, rather than receiving it all at once. It matters to investors because it affects when they can fully access or sell these benefits, influencing their financial planning and decision-making.
Revocable Trust financial
"Julien G. Patterson, Revocable Trust, dated 2/14/2023"
A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.
grant/award acquisition financial
"transaction_action": "grant/award acquisition""
FAQ
What insider transaction did BRBS director Julien G. Patterson report?
Julien G. Patterson reported receiving 10,460 shares of Blue Ridge Bankshares common stock. The shares were granted as compensation, not purchased on the open market, and are classified as restricted stock subject to a vesting schedule.
At what price was the BRBS stock grant to Julien G. Patterson valued?
The stock grant to Julien G. Patterson was valued at $3.59 per share. This valuation applies to the 10,460 common shares he received as compensation rather than cash, according to the Form 4 transaction details and related footnotes.
Is the BRBS stock granted to Julien G. Patterson immediately unrestricted?
No, the granted BRBS stock is not immediately unrestricted. Footnotes state the 10,460 shares are restricted stock subject to a vesting schedule, meaning full ownership rights will transfer over time as vesting conditions are met.
Was the BRBS stock grant to Julien G. Patterson a market purchase or compensation?
The BRBS stock grant was compensation, not a market purchase. A footnote explains the 10,460 common shares were received in lieu of cash compensation, and they are structured as restricted stock that vests over time.