Blaine Scott White, a director of New Peoples Bankshares Inc., lowered his stake in the Honaker, Va.-based company.
White, as sole trustee of the B. Scott White Trust, sold 56,200 shares of the company's common stock at $1.75 per share on Dec. 18, 2017.
Including all interests in the company's securities, White, in the aggregate, beneficially owns 4,672,853 common shares, or approximately 19.54% of the outstanding shares of the class, as of Dec. 18, 2017, according to a Feb. 14, 2018, ownership filing.
This is compared to White's previously reported beneficial ownership of 4,729,053 common shares, or approximately 19.80% of the outstanding shares of the class, as of Nov. 10, 2017, according to a previous ownership filing, also filed Feb. 14. That filing also disclosed White's Nov. 10, 2017, exercise of 11,646 common stock warrants at an exercise price of $1.75 per warrant.
In the preceding amended Schedule 13D, filed in February 2016, White reported the same beneficial ownership — 4,729,053 shares of New Peoples Bankshares common stock — but that share count represented a stake of approximately 20.24% in the banking company at the time.