Altria
The tobacco king filed its proxy statement disclosing the total compensation packages paid to its top executives in 2010.
Altria’s Chairman and CEO Michael Szymanczyk received $24.04 million in total compensation during 2010, nearly double that of what he was paid in 2009. His 2010 pay package included a $1.3 million base salary, $4.97 million in stock awards, and $14 million in incentive pay. He also received $495,000 in other compensation that included $300,000 for personal use of the company aircraft. Altria requires Szymanczyk to use the company aircraft for all air travel.
Altria’s other top four executives received the following total pay packages: $9.84 million for CFO David Beran; $9.17 million for Chief Compliance Officer Martin Barrington; $9.07 million for Denise Keane, the company’s general counsel; and $8.54 million for executive vice president Craig Johnson.
The proxy also announced that Altria’s annual shareholders meeting will be held May 19 at the Greater Richmond Convention Center.
Apple REIT Ten
A subsidiary of Apple REIT 10 entered into purchase contracts for the potential purchase of four hotels for a total of $49 million. The potential purchases include a Hampton Inn & Suites in Davenport, Iowa and Cedar Rapids, Iowa, a Homewood Suits in Cedar Rapids, and a Hilton Garden Inn in Hoffman Estates, Ill.
Bank of Virginia
The bank said its Chief Credit Officer Bruce Brockwell resigned effective immediately on April 1.
The bank also said it added two new members to its board of directors: Hunter Hollar and David Bushnell. Hollar, 62, Hollar is the former CEO of Sandy Spring Bancorp and a former director of the Federal Reserve Bank of Richmond. Bushnell, 56, is the former chief administrative officer and senior risk officer of Citigroup.
Nancy Corsiglia, was appointed the bank’s new CFO. Corsiglia, 55, had previously assumed the position of interim CFO during the fourth quarter of 2010. She will receive an initial base salary of $180,000 and an allowance for housing and travel expenses of $20,000 a year. She previously worked for the Federal Agricultural Mortgage Corporation.
CarMax
Several directors each exercised options for 5,750 shares at $14.19 per share. The directors then sold those shares at market price for $32.49 or $186,817.
The company’s top executives also each received thousands of shares of stock appreciation rights with an exercise price of $32.49 per share. Those rights will be paid out in cash once exercised. Most notably, President and CEO Thomas Folliard received 209,951 of the rights.
Central Virginia Bankshares
Ralph Larry Lyons, CVB’s former longtime CEO, notified the company that he will not stand for re-election to the company’s board of directors at the 2011 annual shareholders meeting.
CVB’s new CFO Robert Eastep received 10,000 shares at no cost.
President and CEO Herb Marth, who replaced Lyons beginning last year, acquired 18,539 shares at no cost.
Genworth Financial
Leon Roday, the company’s general counsel, sold 2,500 shares for $12.95 per share, as part of a pre-determined trading plan. He still owns more than 21,000 shares of Genworth stock.
Insmed
Director Melvin Sharoky bought 24,618 shares for $7.63 each or a total of $187,835.
Owens & Minor
President and CEO Craig Smith exercised options for 18,000 shares at $19.72 per share or $354,960. He then sold those shares at market price for $32.98 each for a total of $593,640.
Tredegar Corp.
Tredegar released its proxy statement disclosing the total pay packages given to its top six executives. President and CEO Nancy Taylor received $2.82 million in total compensation in 2010, up about $1.5 million from the previous year. Her 2010 total included a $675,000 base salary, more than $1 million in stock and option awards, $957,000 in incentive pay and other compensation.
The 2010 total pay packages of Tredegar’s other top execs were as follows: $51,000 to former president and CEO John Gottwald, $853,000 to CFO Kevin O’Leary, $899,000 to Monica Moretti, head of the company’s film products division, $825,000 to general counsel Brent King, and $777,000 to Duncan Crowdis, head of Tredegar’s aluminum extrusions division.
The company’s proxy also announced that it annual shareholders meeting will be held May 24 at the Jepson Alumni Center at the University of Richmond.
Xenith Bankshares
About a dozen Xenith insiders including directors and executives, each acquired thousands of shares for $4.25 per share. Most notably, President and CEO Gaylon Layfield bought 20,000 shares for $4.25 each or a total of $85,000.
Michael Schwartz is a BizSense reporter. Please send news tips to [email protected].
Altria
The tobacco king filed its proxy statement disclosing the total compensation packages paid to its top executives in 2010.
Altria’s Chairman and CEO Michael Szymanczyk received $24.04 million in total compensation during 2010, nearly double that of what he was paid in 2009. His 2010 pay package included a $1.3 million base salary, $4.97 million in stock awards, and $14 million in incentive pay. He also received $495,000 in other compensation that included $300,000 for personal use of the company aircraft. Altria requires Szymanczyk to use the company aircraft for all air travel.
Altria’s other top four executives received the following total pay packages: $9.84 million for CFO David Beran; $9.17 million for Chief Compliance Officer Martin Barrington; $9.07 million for Denise Keane, the company’s general counsel; and $8.54 million for executive vice president Craig Johnson.
The proxy also announced that Altria’s annual shareholders meeting will be held May 19 at the Greater Richmond Convention Center.
Apple REIT Ten
A subsidiary of Apple REIT 10 entered into purchase contracts for the potential purchase of four hotels for a total of $49 million. The potential purchases include a Hampton Inn & Suites in Davenport, Iowa and Cedar Rapids, Iowa, a Homewood Suits in Cedar Rapids, and a Hilton Garden Inn in Hoffman Estates, Ill.
Bank of Virginia
The bank said its Chief Credit Officer Bruce Brockwell resigned effective immediately on April 1.
The bank also said it added two new members to its board of directors: Hunter Hollar and David Bushnell. Hollar, 62, Hollar is the former CEO of Sandy Spring Bancorp and a former director of the Federal Reserve Bank of Richmond. Bushnell, 56, is the former chief administrative officer and senior risk officer of Citigroup.
Nancy Corsiglia, was appointed the bank’s new CFO. Corsiglia, 55, had previously assumed the position of interim CFO during the fourth quarter of 2010. She will receive an initial base salary of $180,000 and an allowance for housing and travel expenses of $20,000 a year. She previously worked for the Federal Agricultural Mortgage Corporation.
CarMax
Several directors each exercised options for 5,750 shares at $14.19 per share. The directors then sold those shares at market price for $32.49 or $186,817.
The company’s top executives also each received thousands of shares of stock appreciation rights with an exercise price of $32.49 per share. Those rights will be paid out in cash once exercised. Most notably, President and CEO Thomas Folliard received 209,951 of the rights.
Central Virginia Bankshares
Ralph Larry Lyons, CVB’s former longtime CEO, notified the company that he will not stand for re-election to the company’s board of directors at the 2011 annual shareholders meeting.
CVB’s new CFO Robert Eastep received 10,000 shares at no cost.
President and CEO Herb Marth, who replaced Lyons beginning last year, acquired 18,539 shares at no cost.
Genworth Financial
Leon Roday, the company’s general counsel, sold 2,500 shares for $12.95 per share, as part of a pre-determined trading plan. He still owns more than 21,000 shares of Genworth stock.
Insmed
Director Melvin Sharoky bought 24,618 shares for $7.63 each or a total of $187,835.
Owens & Minor
President and CEO Craig Smith exercised options for 18,000 shares at $19.72 per share or $354,960. He then sold those shares at market price for $32.98 each for a total of $593,640.
Tredegar Corp.
Tredegar released its proxy statement disclosing the total pay packages given to its top six executives. President and CEO Nancy Taylor received $2.82 million in total compensation in 2010, up about $1.5 million from the previous year. Her 2010 total included a $675,000 base salary, more than $1 million in stock and option awards, $957,000 in incentive pay and other compensation.
The 2010 total pay packages of Tredegar’s other top execs were as follows: $51,000 to former president and CEO John Gottwald, $853,000 to CFO Kevin O’Leary, $899,000 to Monica Moretti, head of the company’s film products division, $825,000 to general counsel Brent King, and $777,000 to Duncan Crowdis, head of Tredegar’s aluminum extrusions division.
The company’s proxy also announced that it annual shareholders meeting will be held May 24 at the Jepson Alumni Center at the University of Richmond.
Xenith Bankshares
About a dozen Xenith insiders including directors and executives, each acquired thousands of shares for $4.25 per share. Most notably, President and CEO Gaylon Layfield bought 20,000 shares for $4.25 each or a total of $85,000.
Michael Schwartz is a BizSense reporter. Please send news tips to [email protected].