Vallacchi Grace 4

What Happened
Grace Vallacchi, Chief Risk Officer of Blue Ridge Bankshares (BRBS), had several equity movements reported. On 2026-01-23 she had 66,666 shares forfeited/cancelled and 23,308 shares disposed to satisfy tax withholding at $4.33 each (proceeds reported as $100,924). On 2026-03-20 the filing shows a disposition of 120,000 shares to the issuer (at $0.00) and an award/acquisition of 120,000 shares (also at $0.00). The $0.00 dispositions reflect forfeiture/cancellation of performance-based restricted stock rather than open-market cash sales.

Key Details

• Transaction dates and amounts:
  • 2026-01-23: Disposition to issuer 66,666 shares @ $0.00 (forfeiture/cancellation).
  • 2026-01-23: Tax-withholding disposition 23,308 shares @ $4.33 = $100,924 (code F).
  • 2026-03-20: Disposition to issuer 120,000 shares @ $0.00 (forfeiture/cancellation).
  • 2026-03-20: Grant/award (acquisition) 120,000 shares @ $0.00 (performance-based award).
• Shares owned after the transactions: not specified in the filing summary provided.
• Footnotes:
  • F1/F2 indicate forfeiture/cancellation of performance-based restricted shares for failure to meet performance conditions.
  • F3 indicates the new award is performance-based restricted stock subject to company performance metrics and a vesting schedule.
• Timeliness: The Form 4 was filed on 2026-03-24. The January 23 transactions appear to have been reported late; the March 20 transactions were reported on the second business day after that transaction (timely).

Context

• The $0.00 "dispositions to issuer" are forfeitures/cancellations of unvested performance-based restricted stock, not open-market sales, so they do not represent cash proceeds or an active sale signal.
• The 23,308-share disposition at $4.33 was to satisfy tax withholding obligations related to equity compensation.
• The March 20 entry shows a new award of 120,000 performance-based restricted shares (subject to performance and vesting), which is an acquisition on paper but may vest only if future conditions are met.