Blue Ridge Bankshares CFO Judy Gavant Forfeits Shares, Receives Award

What Happened Judy Carol Gavant, Chief Financial Officer of Blue Ridge Bankshares (BRBS), had a mix of forfeitures/cancellations and a new award reported. The filing shows dispositions to the issuer (forfeitures/cancellations) of 73,333 shares on 2026-01-23 and 160,000 shares on 2026-03-20 (both at $0.00, total reported value $0), and a grant/award of 160,000 performance-based restricted shares on 2026-03-20 (also $0.00). These transactions reflect forfeiture/cancellation for unmet performance conditions and a new performance-based award subject to vesting — not open-market selling or purchases.

Key Details

• Transaction dates and reported prices:
  • 2026-01-23: Disposition to issuer — 73,333 shares @ $0.00 (F1)
  • 2026-03-20: Disposition to issuer — 160,000 shares @ $0.00 (F2)
  • 2026-03-20: Grant/Award — 160,000 shares @ $0.00 (F3)
• Net reported movement: 233,333 shares forfeited/cancelled and 160,000 shares awarded (net decrease of 73,333 shares held, per reported transactions).
• Shares owned after the transactions: not specified in the provided filing.
• Footnotes:
  • F1: Forfeiture of performance-based restricted shares for failure to meet performance conditions.
  • F2: Cancellation of performance-based stock.
  • F3: Award of performance-based restricted stock subject to company performance achievements and a vesting schedule.
  • F4: 33 shares previously reported by ESOP were transferred into the reporting person's 401(k).
• Timeliness: Filing date 2026-03-24; the 2026-01-23 transaction and the 2026-03-20 entries were reported after the typical 2-business-day Form 4 window (i.e., reported late).

Context

• These are not purchases or open-market sales — the "D" (Disposition to issuer) entries indicate forfeiture/cancellation back to the company, and "A" indicates an award of restricted stock. No cash proceeds or market trades were reported (all values show $0).
• Performance-based awards and forfeitures reflect vesting and performance conditions, so they are administrative/compensation actions rather than direct signals of immediate insider buying or selling.