BLUE RIDGE BANKSHARES, INC.
For the period ended Mar 31, 2026. Filed May 5, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 5, 2026
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Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
On August 25, 2025, the Company announced the adoption of a share repurchase program (the "Repurchase Program") pursuant to which the Company may purchase up to $15 million of the Company’s issued and outstanding shares of common stock. The Repurchase Program may be modified, suspended, or terminated at any time without notice, at the Company’s discretion, based upon a number of factors, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, the need for capital in the Company’s operations, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The Repurchase Program does not obligate the Company to repurchase any shares.
When incentive stock awards vest, employees and directors may elect to have the Company withhold shares of the Company’s common stock as payment for income and payroll taxes, as applicable.
The following table provides information regarding repurchases or withholdings of common stock for the three months ended March 31, 2026.
| Shares Purchased or Withheld (1) | Average Price Paid per Share | Shares Purchased as Part of a Publicly Announced Program | Approximate Value of Shares that May Yet Be Purchased Under the Program | |
|---|---|---|---|---|
| January 1, 2026 through January 31, 2026 | 113,429 | $4.33 | — | 5,493,962 |
| February 1, 2026 through February 28, 2026 | — | — | — | 5,493,962 |
| March 1, 2026 through March 31, 2026 | 26,717 | 4.05 | — | 5,493,962 |
| Total | 140,146 | $4.28 | — | |
| (1) The total number of shares for each period includes shares withheld from employees upon the vesting of restricted stock awards in satisfaction of applicable tax withholding obligations. | ||||
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