Linda M. Warren, Altria’s controller, announced she will retire effective Feb. 24. The company said Assistant Controller Ivan Feldman will take over Warren’s position upon her retirement. With his new role, Feldman will receive a $270,000 base salary and various other incentives and perks.
Apple REIT Ten
The REIT closed on the purchase of a 225-room Hampton Inn & Suites in Skokie, Ill., for $32 million. It will assume an existing $19.1 million loan secured by the hotel.
President and chief executive Larry Dillon sold 535 shares for $23.61 each or approximately $12,600. He still owns more than 45,000 shares.
The company released its latest quarterly earnings, reporting $82.8 million in net income. That’s up slightly from $82.4 million a year earlier. CarMax’s net sales and revenue for the quarter were $2.26 billion, up from $2.11 billion. The company sold 90,975 used cars during the quarter, down from 91,854 a year earlier. It said it plans to open 10 stores in fiscal 2013 in Colorado, Tennessee, California, Florida, Iowa and Pennsylvania. The company is also looking to open 10 to 15 stores each year over the next three years.
President and chief executive Thomas Ferrell received 1,009 restricted shares at no cost. He owns more than 876,000 shares of Dominion stock.
CFO and COO Stephen Benedetti exercised options for 60,000 shares for $7.81 per share or $468,000. He then sold those shares for $9.34 each or $560,000.
President and co-COO Michael Crowley sold 190 shares for $405.81 each or a total of approximately $77,000.
Chief executive Jonnie Williams was awarded stock options for the right to 3.18 million shares to be exercised at $2.95 each. The options expire in March of 2021.
President and COO Paul Perito was awarded options for 2.6 million shares with an exercise price of $2.95 each. Perito’s options also expire in 2021.
Union First Market Bankshares
Director Tayloe Murphy Jr. sold 933 shares for $12.92 each or a total of about $12,000.
Executive Vice President John Neal sold 3,148 for $13.17 each. He then bought 3,750 shares for $10.67 each. He owns more than 34,000 shares.