Brink’s entered into a $54 million agreement for standby letters of credit with the Bank of Tokyo-Mitsubishi. The agreement is good until 2014 and contains various restrictions on how Brink’s can use the money. The company will pay the bank an annual fee for any of the unused portions of the credit line during the life of the agreement.
Director Robert Spilman Jr. bought 470 shares for $41.82 per share. Plus big-time insider trades at Markel and MeadWestvaco.
Dynex released a prospectus announcing the sale of up to 6 million shares for $10.22 per share, in hopes of raising as much as $61.2 million. The local REIT says it will use the cash to acquire additional investment properties, repayment of debt and working capital.
Steven Glover, Insmed’s chief business officer resigned Dec. 1 as part of the company’s acquisition of a New Jersey-based biopharmaceutical firm. Glover isn’t leaving empty handed. As part of his severance agreement, Glover will received a lump sum payment of $425,250, health coverage and other benefits for 18 months, and up to $10,000 for outplacement services.
Vice Chairman Anthony Markel continued his month-long selling spree, this time parting with 8,618 shares in several transactions valued at more than $3.12 million. Since November, he has sold more than 21,000 shares of his Markel stock for $10.6 million. He also gave away an additional 15,000 shares as gifts during that period.
Steven Markel, also vice chairman, disposed of 3,800 shares as gifts last week.
Robert Feeser, a senior vice president, exercised options to acquire 32,000 shares for $9.08 per share or $290,560. He then sold the same number of shares at market price for approximately $825,000.
Owens & Minor
Director Richard Fogg received 140 shares of phantom stock valued at $28.67 per share. Director Alfred Broaddus received 133 share of phantom stock at the same price. Those shares will eventually convert into cash or common stock.
Union First Market Bankshares
Douglas Caton, a director, bought 2,420 for $13.43 per share or $32,500. He owns more than 400,000 shares.
Director James Ukrop acquired 2,327 shares for $13.43 per share, a purchase worth $31,251. Ukrop owns more than 344,000 shares of Union stock.
Michael Schwartz is a BizSense reporter. Please send news tips to [email protected]