Apple REIT Ten
The local REIT continued its buying spree, entering into purchase contracts for the potential purchase of nine hotels in the Southeast for a total price of $103 million. The properties include three hotels in Knoxville, Tenn., three in Florida, two in Alabama, and a SpringHill Suites here in Richmond. The company, as part of the contracts, would also assume $23.12 million in existing loans on three of the hotels.
CarMax
Director Mitchell Steenrod bought 1,250 shares for $32.31 per share, a $40,387 purchase.
Dynex Capital
The local REIT filed an initial prospectus for potential offering that would look to raise up to $500 million. Dynex said the proceeds would be used for general corporate purposes.
Eastern Virginia Bankshares
The parent of EVB released its proxy disclosing the total pay packages given to its top executives in 2010.
President and CEO Joe Shearin received $428,000 in total pay in 2010, up from $383,000 the previous year. His 2010 total included a $297,000 base salary, $20,000 in stock awards and other compensation.
Ronald Blevins, now EVB’s former CFO, received $70,000 in total pay in 2010. Blevins retired from EVB on June 30, 2010 and elected to receive a lump sum distribution of $381,855 from the company’s defined benefit pension plan.
Douglas Haskett II, who joined the company in March 2010 and became CFO last July, received $159,000 in total pay last year. His base salary was $118,000 and he also was given a $38,000 signing bonus.
COO Joseph James Jr. received $197,875 in total pay in 2010, down slightly from the previous year. His 2010 total included a $173,000 base salary and other compensation.
Chief Credit Officer James Thomas received $154,782 in total pay last year. That included a $142,000 base salary was nearly identical to his total pay in 2009.
EVB also said its annual shareholder meeting will be held May 12 at the King William Ruritan Club in King William, Va.
First Capital Bancorp
The holding company for First Capital Bank released its proxy revealing the total pay packages given to its top executives in 2010.
CEO and Managing Director John Presley received $263,241 in total pay in 2010, up $20,000 from the previous year. His 2010 total included a $233,871 base salary, $19,000 in option awards and other compensation.
Bob Watts, president of the holding company and also head of the bank, received $248,439 in total pay, up from $212,788 in 2009. His 2010 pay included a $205,407 base salary, a $30,000 bonus and other compensation.
Gary Armstrong, a senior vice president and commercial banking officer, received $196,388 in total pay in 2010. That’s compared to $44,000 in 2009, though Armstrong joined the company in November 2009. His 2010 pay included a $149,463 base salary and a $45,000 bonus.
First Capital also announced that its annual shareholders meeting will be held May 18 at the Hilton Richmond Hotel & Spa at Short Pump.
Insmed
Insmed released its latest proxy disclosing the total compensation packages paid to its top executives in 2010.
President and CEO Timothy Whitten received $147,917 in total pay in 2010 including a $35,417 base salary and a $112,500 bonus. His base salary only accounted for the month of December, following the company’s merger with a New Jersey-based drug maker.
CFO Kevin Tully received $388,173 in total pay, including a $278,173 base and a $110,000 bonus.
Chief Medical Officer Renu Gupta was paid a total of $141,133 in 2010, including a $33,333 base salary and a $107,800 bonus. Gupta’s base also was only for the month of December.
Chief Scientific Officer Nicholas LaBella Jr. received $401,711 in total pay. That included a $214,711 base salary, a $72,000 bonus and $115,000 in stock awards.
Steve Glover, now the company’s former chief business officer was paid a total of $829,904 in 2010. He received a $294,404 base, $110,250 in bonuses and $425,250 in severance pay upon his termination related to the merger.
Glenn Kelley, now a former vice president, received $459,039 in total pay, including a $252,885 base salary, an $87,500 bonus and $118,000 in severance pay.
Insmed also announced that its annual shareholders’ meeting will be held May 18 at the Sofitel Hotel in Philadelphia.
James River Coal
Eight of the company’s insiders, including executives and directors, were each awarded thousands of shares of restricted stock. Most notably, President, CEO and Chairman Peter Socha received 25,000 shares of the restricted stock. The shares will vest in annual installments beginning next year.
Massey Energy
Massey, along with its pending acquirer Alpha Natural Resources, disclosed that several Massey executives will stay on with the combined company post-merger.
Baxter F. Phillips Jr., Massey’s president and CEO, will stay on after the merger in a senior advisory capacity. Mark Clemens, Massey’s senior vice president of group operations will stay on as a vice president of optimization. Michael Snelling, vice president of Massey’s surface operations, will be a senior vice president for operations of Alpha’s Central Appalachian operations. Shane Harvey, Massey’s general counsel, will stay on as senior vice president of legal. John Poma, Massey chief administrative officer will become a vice president of enterprise risk management for Alpha.
Massey and Alpha also announced that they will each hold special shareholder meetings on June 1 at which stockholders will vote whether to approve the merger. The companies said they expect to close the merger promptly after the meeting that day.
Owens & Minor
E.V. Clarke, an executive vice president in the company’s supply chain, announced on April 15 that he will be leaving O&M effective April 30. The company said Clarke will receive related severance and that his responsibilities will be assumed by other members of the executive management team.
Xenith Bankshares
Xenith said it sold an additional 600,000 shares of its common stock for $4.25 per share to the underwriters of its recent public offering. That amounts to an additional $2.55 million. The underwriters’ shares were part of an over-allotment option granted by Xenith.
Apple REIT Ten
The local REIT continued its buying spree, entering into purchase contracts for the potential purchase of nine hotels in the Southeast for a total price of $103 million. The properties include three hotels in Knoxville, Tenn., three in Florida, two in Alabama, and a SpringHill Suites here in Richmond. The company, as part of the contracts, would also assume $23.12 million in existing loans on three of the hotels.
CarMax
Director Mitchell Steenrod bought 1,250 shares for $32.31 per share, a $40,387 purchase.
Dynex Capital
The local REIT filed an initial prospectus for potential offering that would look to raise up to $500 million. Dynex said the proceeds would be used for general corporate purposes.
Eastern Virginia Bankshares
The parent of EVB released its proxy disclosing the total pay packages given to its top executives in 2010.
President and CEO Joe Shearin received $428,000 in total pay in 2010, up from $383,000 the previous year. His 2010 total included a $297,000 base salary, $20,000 in stock awards and other compensation.
Ronald Blevins, now EVB’s former CFO, received $70,000 in total pay in 2010. Blevins retired from EVB on June 30, 2010 and elected to receive a lump sum distribution of $381,855 from the company’s defined benefit pension plan.
Douglas Haskett II, who joined the company in March 2010 and became CFO last July, received $159,000 in total pay last year. His base salary was $118,000 and he also was given a $38,000 signing bonus.
COO Joseph James Jr. received $197,875 in total pay in 2010, down slightly from the previous year. His 2010 total included a $173,000 base salary and other compensation.
Chief Credit Officer James Thomas received $154,782 in total pay last year. That included a $142,000 base salary was nearly identical to his total pay in 2009.
EVB also said its annual shareholder meeting will be held May 12 at the King William Ruritan Club in King William, Va.
First Capital Bancorp
The holding company for First Capital Bank released its proxy revealing the total pay packages given to its top executives in 2010.
CEO and Managing Director John Presley received $263,241 in total pay in 2010, up $20,000 from the previous year. His 2010 total included a $233,871 base salary, $19,000 in option awards and other compensation.
Bob Watts, president of the holding company and also head of the bank, received $248,439 in total pay, up from $212,788 in 2009. His 2010 pay included a $205,407 base salary, a $30,000 bonus and other compensation.
Gary Armstrong, a senior vice president and commercial banking officer, received $196,388 in total pay in 2010. That’s compared to $44,000 in 2009, though Armstrong joined the company in November 2009. His 2010 pay included a $149,463 base salary and a $45,000 bonus.
First Capital also announced that its annual shareholders meeting will be held May 18 at the Hilton Richmond Hotel & Spa at Short Pump.
Insmed
Insmed released its latest proxy disclosing the total compensation packages paid to its top executives in 2010.
President and CEO Timothy Whitten received $147,917 in total pay in 2010 including a $35,417 base salary and a $112,500 bonus. His base salary only accounted for the month of December, following the company’s merger with a New Jersey-based drug maker.
CFO Kevin Tully received $388,173 in total pay, including a $278,173 base and a $110,000 bonus.
Chief Medical Officer Renu Gupta was paid a total of $141,133 in 2010, including a $33,333 base salary and a $107,800 bonus. Gupta’s base also was only for the month of December.
Chief Scientific Officer Nicholas LaBella Jr. received $401,711 in total pay. That included a $214,711 base salary, a $72,000 bonus and $115,000 in stock awards.
Steve Glover, now the company’s former chief business officer was paid a total of $829,904 in 2010. He received a $294,404 base, $110,250 in bonuses and $425,250 in severance pay upon his termination related to the merger.
Glenn Kelley, now a former vice president, received $459,039 in total pay, including a $252,885 base salary, an $87,500 bonus and $118,000 in severance pay.
Insmed also announced that its annual shareholders’ meeting will be held May 18 at the Sofitel Hotel in Philadelphia.
James River Coal
Eight of the company’s insiders, including executives and directors, were each awarded thousands of shares of restricted stock. Most notably, President, CEO and Chairman Peter Socha received 25,000 shares of the restricted stock. The shares will vest in annual installments beginning next year.
Massey Energy
Massey, along with its pending acquirer Alpha Natural Resources, disclosed that several Massey executives will stay on with the combined company post-merger.
Baxter F. Phillips Jr., Massey’s president and CEO, will stay on after the merger in a senior advisory capacity. Mark Clemens, Massey’s senior vice president of group operations will stay on as a vice president of optimization. Michael Snelling, vice president of Massey’s surface operations, will be a senior vice president for operations of Alpha’s Central Appalachian operations. Shane Harvey, Massey’s general counsel, will stay on as senior vice president of legal. John Poma, Massey chief administrative officer will become a vice president of enterprise risk management for Alpha.
Massey and Alpha also announced that they will each hold special shareholder meetings on June 1 at which stockholders will vote whether to approve the merger. The companies said they expect to close the merger promptly after the meeting that day.
Owens & Minor
E.V. Clarke, an executive vice president in the company’s supply chain, announced on April 15 that he will be leaving O&M effective April 30. The company said Clarke will receive related severance and that his responsibilities will be assumed by other members of the executive management team.
Xenith Bankshares
Xenith said it sold an additional 600,000 shares of its common stock for $4.25 per share to the underwriters of its recent public offering. That amounts to an additional $2.55 million. The underwriters’ shares were part of an over-allotment option granted by Xenith.