Jeffrey Garten, a director, exercised options for 14,402 shares for a total of $218,000. He then sold the shares at market price at $39.30 per share for a total of $566,000.
The company approved its 2013 Annual Incentive Plan that bases payments to top executives according to a percentage of their base salary and is tied to performance. Chairman, President and CEO Thomas Ferrell for example would receive an incentive equal to 125 percent of his base salary. The minimum percentage target among Dominion’s top five executives is set at 90 percent of their base salary.
NewMarket Corp. (NEV)
The company’s board approved bonus payments for its top five executives based on its 2012 performance.
President and chief executive Thomas Gottwald received a bonus of $725,000.
Warren Huan, who until the end of 2012 was president of the company’s Afton Chemical subsidiary, received a bonus of $625,000.
Steven Edmonds, the company’s general counsel, and Vice President Bruce Hazelgrove III each were awarded a $330,000 bonus.
CFO David Fiorenza’s bonus was set at $210,000.
Universal Corp. (UVV)
CFO David Moore exercised options for 5,000 share at $39.71 per share. He then sold 4,144 shares at $55 per share.
Xenith Bankshares (XBKS)
Three of the Xenith’s top executives were granted 4,000 shares of restricted stock. The executives include CFO Thomas Osgood, executive vice president Ronald Davis and Chief Credit Officer Wellington Cottrell III.