Blue Ridge Bankshares Names New CEO
Ticker: BRBS · Form: 8-K · Filed: Sep 10, 2024 · CIK: 842717
Sentiment: neutral
Topics: executive-appointment, ceo, compensation
Related Tickers: BRBS
TL;DR
BRBS just named W. Mark Nelson as new CEO, effective immediately. He's getting $275k base + bonus.
AI Summary
Blue Ridge Bankshares, Inc. announced on September 4, 2024, the appointment of W. Mark Nelson as Chief Executive Officer, effective immediately. Nelson, who has been with the company since 2017 and previously served as President and Chief Operating Officer, will also join the Board of Directors. He will receive an annual base salary of $275,000, along with other standard executive benefits and potential performance-based incentives.
Why It Matters
The appointment of a new CEO can signal a shift in company strategy and leadership, potentially impacting future performance and investor confidence.
Risk Assessment
Risk Level: low — The filing details a routine executive appointment and compensation, with no immediate negative financial implications.
Key Numbers
- $275,000 — CEO Base Salary (Annual compensation for W. Mark Nelson)
Key Players & Entities
- Blue Ridge Bankshares, Inc. (company) — Registrant
- W. Mark Nelson (person) — Appointed CEO and Director
- $275,000 (dollar_amount) — Annual base salary for new CEO
- September 4, 2024 (date) — Effective date of appointment
FAQ
What was W. Mark Nelson's previous role at Blue Ridge Bankshares, Inc.?
W. Mark Nelson previously served as President and Chief Operating Officer of Blue Ridge Bankshares, Inc.
When did W. Mark Nelson's appointment as CEO become effective?
W. Mark Nelson's appointment as CEO became effective on September 4, 2024.
Will W. Mark Nelson also join the Board of Directors?
Yes, W. Mark Nelson will also join the Board of Directors.
What is the annual base salary for the new CEO?
The annual base salary for W. Mark Nelson is $275,000.
Has W. Mark Nelson held other positions within the company?
Yes, W. Mark Nelson has been with the company since 2017 and has held the roles of President and Chief Operating Officer.
Filing Stats: 461 words · 2 min read · ~2 pages · Grade level 11.7 · Accepted 2024-09-10 16:30:54
Filing Documents
- d879014d8k.htm (8-K) — 24KB
- 0001193125-24-216647.txt ( ) — 147KB
- brbs-20240904.xsd (EX-101.SCH) — 3KB
- brbs-20240904_lab.xml (EX-101.LAB) — 18KB
- brbs-20240904_pre.xml (EX-101.PRE) — 11KB
- d879014d8k_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BLUE RIDGE BANKSHARES, INC. (Registrant) Date: September 10, 2024 By: /s/ Judy C. Gavant Judy C. Gavant Executive Vice President and Chief Financial Officer 3