Apple REIT Companies
A California investment firm revised its offer to buy shares of Apple REIT Six and Seven from the company’s shareholders. MacKenzie Patterson Fuller said it will look to buy a combined 1 million shares of Apple REIT Six and Seven for $6 per share and $5 per share respectively, a total of $5.5 million. The firm previously said it wanted Apple REIT shareholders to sell it a combined 9.2 million shares.
C&F Financial (CFFI)
The parent company of C&F Bank filed its proxy statement in which was disclosed the total pay packages given to its top three executives.
Chairman, President and CEO Larry Dillon was given $659,000 in total compensation. That was made up of a $268,000 base salary, stock awards and other compensation.
CFO Thomas Cherry received $546,000 in total compensation. That included a base of $220,000.
Bryan McKernon, president and CEO of C&F’s mortgage arm, was the highest paid of the three with $669,000 in total compensation. That included a $195,000 base and more than $400,000 in non-equity compensation cash awards tied to the performance of the mortgage division.
C&F also said its annual shareholders meeting will take place April at 3:30 p.m. at the Williamsburg Hotel & Conference Center.
The electricity giant disclosed the total compensation packages paid to its top five executives in 2011.
Chairman, President and CEO Thomas Farrell II, perpetually one of the highest paid executives in Richmond, received a total pay package of $13.99 million last year. That total included a $1.22 million base salary, $3.5 million in stock awards and $7.29 million in non-equity incentive cash compensation. He also used $60,000 worth of Dominion’s corporate jet.
CFO Mark McGettrick received $5.46 million in total compensation last year. That was made up of a $661,000 base salary and millions in stock awards and cash incentive awards.
David Christian, CEO of Dominion Generation, received $3.57 million in total compensation including a $563,000 base and more than $2 million in stock awards and incentive pay.
Paul Koonce, CEO of Dominion Virginia Power, was given a total pay package of $3.28 million. His base salary was $506,000.
Gary Sypolt, CEO of Dominion Energy, was given $2.91 million in total compensation last year. That consisted of a $499,000 base salary
Eastern Virginia Bankshares (EVBS)
Director F. Warren Haynie Jr., 73, told the company he will retire from the board on May 17.
Robert Birkenholz, vice president and treasurer, exercised options for 8,310 shares for $9.08 each, a $75,000 transaction.
Media General (MEG)
George Mahoney, vice president of growth and performance, sold 3,562 shares for $5.44 each, a $19,000 transaction. He still owns more than 78,000 shares of Media General stock.
Owens & Minor (OMI)
O&M’s executive pay packages were disclosed in its latest proxy. President and CEO Craig Smith was given $4.1 million in total compensation including a $852,000 base salary, more than $1 million in stock awards and other perks.
CFO James Bierman received $1.97 million in total pay. That consisted of a $543,000 base salary.
COO Charles Colpo followed close behind Bierman with $1.92 million in total compensation including a $513,000 base salary.
Mark Van Sumeren, a senior vice president, brought in $1.61 million in total compensation with a base of $465,000.
Grace den Hartog, the company’s general counsel, received $1.53 million in total compensation including a $385,00 base
E.V. Clarke, a former executive vice president whose employment was terminated by the company last April, received $1.35 million in total compensation during 2011. That included a $135,000 base salary and more than $800,000 in severance pay.
O&M also said its annual shareholders meeting will be held April 27 at 10 a.m. at its corporate headquarters on Lockwood Boulevard in Mechanicsville.
Union First Market Bankshares (UBSH)
Union filed its latest proxy disclosing the total compensation packages given to its top six executives last year.
CEO Billy Beale received $836,000 in total compensation in 2011. That included a $423,000 base salary, stock and option awards and other perks.
President David Fairchild received 424,000 in total compensation. That included a $280,000 base salary.
CFO Anthony Peay had $411,000 in total pay including a base salary of $240,000.
John Neal, president of the company’s bank subsidiary, had a total package of $438,000. His base salary for the year was $280,000.
Executive vice president Rex Hockemeyer received $224,000 in total compensation last year, comprised mostly of a $163,000 base salary.
Union also said its annual shareholders meeting will be April 24 at 4 p.m. at its operations center in Ruther Glen.
Xenith Bankshares (XBKS)
CFO Thomas Osgood bought 1,000 shares for $4.25 per share. He then bought another 1,000 shares at $4.20 each. He owns nearly 50,000 shares.
Judy Gavant, Xenith’s controller, bought 3,000 shares for $4.25 each. She owns more than 18,000 shares of Xenith stock.
Director Palmer Garson bought 5,000 shares for $4 per each. The shares are held in the name of his spouse.
Director Brian Jones bought 2,601 shares for $4.10 each.