secwatch.observer — SEC 8-K summary
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Issuer:     BLUE RIDGE BANKSHARES, INC. (BRBS)
CIK:        0000842717
Form:       8-K
Filed at:   2025-01-29T23:59:59+00:00
Accession:  0001193125-25-015718
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Blue Ridge Bankshares amends CEO Beale's employment agreement; severance, change-in-control terms revised
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- Effective Jan 1, 2025, Beale's agreement: 2-year term, base salary floor $547,000; annual bonus up to 40% of base.
- Severance period for without-cause termination changed to greater of months remaining or 12 months (from up to 12 months less months since May 2023).
- Change-in-control payout revised to 2 times (base salary + highest bonus in prior 2 years), from months-remaining formula.
- Non-compete covenant extended from 3 months to 12 months; fintech businesses removed from 'competitive business' definition.
- CFO Judy Gavant's agreement amended with only ministerial and administrative changes; no material term alterations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/842717/000119312525015718/0001193125-25-015718-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/842717/000119312525015718/d877980d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-015718

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