Blue Ridge Bankshares eliminates classified board, phases in annual director elections over three years

On May 21, 2025, the Company’s Board of Directors adopted amendments to the Company’s Bylaws, effective upon the effective date of the Amendment (May 21, 2025), as follows: (i) revisions to Article 3, Section 6 to reflect that the Company’s Chief Executive Officer and not the President shall serve as chairman of shareholder meetings and that the Company’s President and not any Vice President shall preside over shareholder meetings if the Chief Executive Officer is not present at a shareholders meeting; (ii) revisions to Article 4, Section 4, Paragraph 6 to remove references to classes of directors; (iii) revisions to Article 4, Section 4, Paragraph 8 to remove a provision relating to the ability of the Board of Directors to remove a director; (iv) revisions to Article 4, Section 5 to replace provisions relating to the Company having a classified Board of Directors with staggered three-year board terms with provisions relating to the Company having a nonclassified Board of Directors wit

On May 21, 2025, Article VI of the Articles of Incorporation of Blue Ridge Bankshares, Inc. (the “Company”) was amended to eliminate the classified structure of the Company’s Board of Directors and provide for the annual election of directors (the “Amendment”).