Director Robert E. R. Huntley told the company he intends to retire from the board following Altria’s 2011 annual meeting. Huntley is the former president and CEO of Best Products Co. and retired as counsel to Hunton & Williams in 1995. He served on the Altria board for nearly 34 years. He was also a law professor at Washington and Lee School of Law and president of Washington and Lee University.
Altria’s Chairman and CEO Michael Szymanczyk gave away 20,100 shares of his company stock as a gift. He still owns more than 1.2 million shares.
The company’s top executives each received shares of deferred stock units. Chairman, President and CEO Michael Dan received 1,221 deferred stock units valued at $23.61 each or $28,827. CFO Joseph Dziedzic, Chief Administration Officer Frank Lennon, General Counsel McAllister Marshall, Controller Matthew Schumacher also received such shares which convert into Brinks common stock upon termination from the company
Chief Information Officer Richard Smith exercised options to buy 40,000 shares for $17 per share or $680,000. He then sold the shares at market price for $1.27 million
Keith Browning, an executive vice president, exercised options to buy 80,000 shares for $17.20 per share or $1.37 million. He then sold them for $31.77 each or $2.54 million.
Thomas Stemberg, a director, used options to acquire 3,598 shares for $15.72 per share or $56,560. He then sold them for $30.01 or $107,975.
Director Ronald Blaylock exercised options for the purchase of nearly 8,600 shares for around $126,000. He then sold nearly 9,000 shares for more than $267,700.
The company announced that its general counsel and senior vice president James Stutts, will retire effective January 1, 2011. The company plans to replace Stutts by appointing Robert Blue to serve as senior vice president of law, public policy and environment, and Carter Reid as general counsel.
Directors Robert Spilman Jr., Frank Royal and Mark Kington each bought less than 100 shares for $43.46 per share.
Dynex said it increased the size of its board from four to five and elected Michael Hughes as the newest directors. Hughes will receive the standard $36,000 annual directors fee, plus $1,000 for each meeting he attends, $750 for each committee meeting attended, and an annual grant of 2,500 shares of restricted common stock. Hughes is a former portfolio manager at Osterweis Capital Management and former vice president of Merrill Lynch Financial Institutions Research. He is a limited partner in the Talkot Fund L.P. of which Thomas Akin, the company’s chairman and CEO, is the managing general partner.
Genworth said it has repaid $250 million of outstanding debt on a credit line. It still has $480 million in additional debt in those credit lines which expire in 2012.
James River Coal
Chief Operating Officer Koy Lane Jr. sold 5,280 shares for $94,000 to pay for the tax liability from previously issued restricted stock. Chief Commercial Officer Michael Weber sold $28,905 worth of shares for the same reason.
JRC’s Leeco Inc. subsidiary received an imminent danger order from federal Mine Safety and Health Administration after one of its miners was found not wearing a safety belt. The order was resolved.
Massey’s Performance Coal Co. subsidiary, which operates the infamous Upper Big Branch Mine, received an imminent danger order after low oxygen and high methane levels were found in the mine. No injuries resulted and the gas levels were returned to their proper state.
Senior vice president Bruce Thomas bought 150 shares for $26.46 per share.
About a dozen of the company’s executives received various amounts of shares as part of a deferred compensation program.
Coleman Wortham, a director, sold 7,500 shares for $39,440. He still owns 57,000 shares.
Institutional investor GAMCO Investors increased its ownership in Media General by about 400,000 shares since the first quarter. Various entities within GAMCO now own a total of 6.8 million MG shares.
Owens & Minor
Director Peter Redding exercised options to buy 15,000 shares for $268,275. He then sold those shares $432,000.
The company entered into an agreement by which certain accredited investors including some of its executive officers and directors purchased 7.61 million shares of Star Scientific’s common stock at $1.80 per share and warrants for an additional an aggregate of 7.61 million shares at the same price. The company received $14 million gross.
Paul Perito, president and COO, purchased 50,000 shares for $96,000. He owns 1.8 million shares.
CEO Jonnie Williams acquired 717,220 shares for $1.37 million. He owns more than 14 million shares.
Director Burton Haynes purchased 10,000 shares for $19,200.
Tradewinds Master Fund Ltd., an entity in the Virgin Islands bought 1.66 million shares for $2.98 million. It owns more than 15.36 million shares of Star Scientific’s stock.
Union First Market Bankshares
Union declared a quarterly dividend of $0.07 per share after announcing its third quarter profit of $7.5 million, up from $1.9 million in the third quarter last year.
The company elected L. Bradford “Brad” Armstrong as a member of its board of directors. Armstrong is a partner at the Martin Agency and is the former president and CEO of the Virginia Performing Arts Foundation. He received his undergraduate and graduate degrees at UVA.
Douglas Caton, a director, sold 21,204 shares for a total of $268,900.
Universal declared quarterly dividend of $0.48 per share of common stock payable Feb. 14, 2011 to shareholders of record at the close of business Jan. 10, 2011. It also declared a $16.87 per share dividend on its series B preferred stock payable Dec. 15 to shareholders of record as of 5 p.m. Dec. 1.
State Street Corp., a Massachusetts-based institutional investor increased its stake in Universal to 2.6 million shares or 10.96 percent of its outstanding shares. It owned 1.3 million at the end of 2009.
Michael Schwartz is a BizSense reporter. Please send news tips to [email protected]