CHAIN BRIDGE BANCORP INC
For the period ended Dec 31, 2024. Filed Mar 21, 2025.
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FY2024 · Filed Mar 21, 2025
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Item 5. Market for Common Stock
The Company’s Class A Common Stock is listed and trades on the New York Stock Exchange under the symbol “CBNA,” with trading having commenced on October 4, 2024. As of March 20, 2025, the latest practicable date prior to the filing of this report, the Company had outstanding 3,119,317 shares of Class A Common Stock and 3,442,500 shares of Class B Common Stock. The Class A Common Stock and Class B Common Stock represent 8.31% and 91.69% of the combined voting power of our common stock, respectively. There is no established public trading market for the Company’s Class B Common Stock; however, each outstanding share of Class B Common Stock remains convertible, at the option of the holder, into one share of Class A Common Stock at any time.
As of March 20, 2025, the Company’s Class A Common Stock was held by 28 stockholders of record, including Cede & Co., which holds our beneficial stockholders whose shares were held in “street name” through a broker or bank. The Company’s Class B Common Stock was held by 184 stockholders of record.
During fiscal year 2024, the Company issued a total of 1,992,897 shares of Class A Common Stock in connection with its initial public offering, including 1,850,000 shares issued at the initial closing on October 7, 2024, and 142,897 shares issued on November 1, 2024, pursuant to the underwriters’ partial exercise of their overallotment option to purchase additional shares, each at a public offering price of $22.00 per share. Additionally, 1,056,550 shares of Class B Common Stock were converted into an equivalent number of shares of Class A Common Stock following the IPO and prior to December 31, 2024, at the option of the holders thereof.
Dividends
The Company did not declare or pay any dividends on its Class A Common Stock or Class B Common Stock in fiscal year 2024. The Company does not currently intend to pay dividends on its common equity in the foreseeable future. Instead, the Company currently intends to retain all available earnings to support its growth strategy and business expansion. The payment of dividends in the future will be at the discretion of the Board and is dependent upon, among other things, the Company’s future income, financial position, and capital requirements.
Unregistered Sales and Issuer Repurchases of Common Stock
There were no unregistered sales of the Company’s equity securities during fiscal years ended December 31, 2024 or 2023.
The Company did not repurchase any of its equity securities during fiscal year 2024, including during the three months ended December 31, 2024.
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