William Bolinder, a director, acquired 3,000 shares for $5.17 each, a total purchase of $15,510.
The company closed on and received funds from its new credit agreement with Berkshire Hathaway. Media General drew $382.5 million in cash, which was immediately used to pay another lender.
Media General also entered into an agreement with Chairman J. Stewart Bryan III, the D. Tennant Bryan Media Trust and Berkshire Hathaway whereby Berkshire will get a seat on the company’s board as a Class B director. Should the trust or Bryan cease to hold a majority of the company’s Class B shares, or upon Bryan’s death, Berkshire will get a seat as a Class A director.
The company’s top executives each received thousands of shares from previously awarded stock grants. Those shares carry a value of $45.63 per share. Chairman, President and CEO George Freeman III received 22,500 such shares with a total initial value of $1.02 million.
Union First Market Bankshares
Director Ronald Hicks sold 517 shares for $13.72 each, a sale of $7,000. He still directly owns more than 78,000 shares.
Village Bank & Trust Financial Corp.
Oakley Woodland Hogg Jr., a director, bought 2,000 shares at $1.29 each. He owns almost 20,000 shares of Village stock.
Director Charles Walton bought 3,000 shares in several purchases with an average price of $1.28 per share. He directly owns more than 8,000 shares.
President and CEO Gaylon Layfield spent more than $18,000 to buy a total of 5,000 shares of Xenith stock in three purchases with an average share price of $3.78. He owns more than 123,000 shares of Xenith stock.
CFO Thomas Osgood bought 1,300 shares at $4.05 each. He owns more than 51,000 shares.