Apple Hospitality REIT (APLE)
The hotel-focused REIT announced it plans to merge with subsidiary Apple REIT Ten in a cash-and-stock deal valued at $1.3 billion. The merger agreement includes a “go-shop” period in which Apple Ten can solicit alternative proposals through May 28. The deal is otherwise expected to close in the third quarter.
CarMax (KMX)
Several executives were awarded and exercised stock options. CEO Thomas Folliard exercised options for 30,955 shares and sold 12,049 shares at $53.65 per share for a total of $646,428.
Vice president Natalie Wyatt sold 2,362 shares of common stock at $54.15 per share for a total of $127,902.
Genworth Financial (GNW)
The company appointed Matthew D. Farney as vice president and controller. Genworth also said that CFO Kelly Groh will give up the position of principal accounting officer. Farney, 47, has been Genworth’s interim controller since November and prior to that was deputy controller and in other positions dating back to 2001. He was previously with PricewaterhouseCoopers. He received his bachelor’s from Illinois State University. He’ll receive an annual base salary of $265,000.
Village Bank & Trust Financial (VBFC)
The parent of Midlothian-based Village Bank filed its proxy statement disclosing the 2015 compensation packages paid to its top three executives. Among them, CEO Bill Foster received $474,600 in total compensation, up from $397,000 the previous year. His total included a $250,000 base salary, $157,000 in stock awards, $55,000 in deferred compensation, as well as other perks. See the full compensation table for the company’s top executives here.
Village will hold its annual shareholders meeting on May 24 at 10 a.m. at Salisbury Country Club.
Apple Hospitality REIT (APLE)
The hotel-focused REIT announced it plans to merge with subsidiary Apple REIT Ten in a cash-and-stock deal valued at $1.3 billion. The merger agreement includes a “go-shop” period in which Apple Ten can solicit alternative proposals through May 28. The deal is otherwise expected to close in the third quarter.
CarMax (KMX)
Several executives were awarded and exercised stock options. CEO Thomas Folliard exercised options for 30,955 shares and sold 12,049 shares at $53.65 per share for a total of $646,428.
Vice president Natalie Wyatt sold 2,362 shares of common stock at $54.15 per share for a total of $127,902.
Genworth Financial (GNW)
The company appointed Matthew D. Farney as vice president and controller. Genworth also said that CFO Kelly Groh will give up the position of principal accounting officer. Farney, 47, has been Genworth’s interim controller since November and prior to that was deputy controller and in other positions dating back to 2001. He was previously with PricewaterhouseCoopers. He received his bachelor’s from Illinois State University. He’ll receive an annual base salary of $265,000.
Village Bank & Trust Financial (VBFC)
The parent of Midlothian-based Village Bank filed its proxy statement disclosing the 2015 compensation packages paid to its top three executives. Among them, CEO Bill Foster received $474,600 in total compensation, up from $397,000 the previous year. His total included a $250,000 base salary, $157,000 in stock awards, $55,000 in deferred compensation, as well as other perks. See the full compensation table for the company’s top executives here.
Village will hold its annual shareholders meeting on May 24 at 10 a.m. at Salisbury Country Club.