Leon Roday, Genworth’s general counsel, sold 2,500 shares for $12.77 per share or $31,925. He still owns more than 24,000 shares.
The local drug maker said it lost $5.8 million in the fourth quarter on $1.3 million in revenue. That compares with its profit of $2.3 million for the fourth quarter 2009 and revenue of $2.5 million. For all of 2010, Insmed said it lost $6.4 million compared with a $118.4 million in profit in 2009, the year it closed on a sale of some of its assets to pharmaceutical giant Merck. This year’s losses were a result of a $5.5 million increase in expenses related to Insmed’s recent merger with a New Jersey-based peer and R&D expenses tied to its latest drug.
Filings last week showed the ownership stakes of various institutional investors in Insmed. Philadelphia-based Quaker BioVentures Capital owns 8 percent of Insmed’s stock. TVM Capital GmbH, based in Munich, owns 7.1 percent. Boston-based FMR LLC now owns 6.9 percent of Insmed’s stock. Prospect Venture Partners of Palo Alto, Calif., owns 7 percent of the Richmond drug maker’s stock.
The company released its latest proxy, disclosing details of the total compensation packages paid to its top executives in 2010, all of whom saw their base salaries and total pay packages increase from 2009. President and CEO Marshall Morton received $1.98 million in total compensation, including a $938,700 base salary and $764,000 in stock awards and options. Morton’s total pay package was up from $1.35 million in 2009, but down from $3.67 million in 2008.
COO Reid Ashe received $1.48 million in total compensation, including a $561,700 salary and almost $600,000 in deferred compensation related mostly to a supplemental retirement plan.
Morton and Ashe received “other compensation” of $64,740 and $82,363, respectively. That compensation consisted of life insurance payments, furlough repayment, club dues, personal use of company owned vehicles, tax preparation and financial planning services. Morton and Ashe were also reimbursed for spousal travel costs on business trips. Ashe was reimbursed $40,553 for the use of his aircraft for business purposes, and the company paid for his annual physical examination.
The company paid for Morton and Mahoney’s home security services, and their perks included use of company-leased stadium box seats and related refreshments.
Media General, according to the proxy, did away with its executive automobile program during 2010.
CFO John Schauss received $998,728 in total pay in 2010, up from $782,910 in 2009 and down from $1.05 million in 2008. His 2010 base salary was $416,700.
George Mahoney, the company’s general counsel, received $1.21 million in total compensation in 2010, including a $516,700 base salary. His total pay was up from $864,986 in 2009 and down from $1.24 million in 2008
Chief Accounting Officer Steven Dickinson was paid $540,042 in total compensation during 2010, including a $334,000 base salary. That’s up from his total pay of $392,193 in 2009 and down from $859,036 in 2008.
Owens & Minor
The company released a summary of total compensation paid to its top executives, each of whom saw his base salary increase from 2009 to 2010.
President and CEO Craig Smith received $3.95 million in total compensation during 2010, down from $4.04 million in 2009. His base salary for the year was $829,339, up about $19,000 from 2009. He also received $1 million in stock awards and $1.7 million in increased pension value and deferred compensation.
CFO James Bierman received $1.7 million in total pay in 2010, including a $518,336 base salary. His total pay was down from $2.1 million in 2009.
COO Charles Colpo received $1.55 million in total pay, up from $1.43 million in 2009. He brought home a base salary of $482,600, an increase of more than $75,000 from the previous year.
Mark Van Sumeren, a senior vice president, was paid a total of $1.39 million in 2010, down from $1.45 million in 2009. He received an almost $11,000 bump in his base salary to $461,319 in 2010.
Executive Vice President E.V. Clarke received. $1.18 million in total compensation, down from $1.35 million. Clarke’s base salary was $368,000, up about $19,000.
Each of these executives also received a car allowance, paid annual physicals and other perks.
Virgin Islands-based Tradewinds Master Fund bought 1.08 million shares of Star Scientific stock for $1.84 per share or approximately a total of $1.98 million.
Michael Schwartz is a BizSense reporter. Please send news tips to [email protected]