Trading Day: Inside local SEC filings for 2.14.13

CarMax (KMX)
Rakesh Gangwal, a director, bought 30,000 shares at $39.43 per share for a total of $1.18 million.

Community Bankers Trust (BTC)
Thomas Townsend, chief credit officer at the company’s Essex Bank subsidiary, bought 2,500 shares at $2.95 each.

First Capital Bancorp (FCVA)
The parent of First Capital Bank announced it repurchased all of the 250,947 warrants of common stock it issued to the U.S. Treasury as part of the TARP program for a price of $260,042. The 10,958 shares of preferred stock it issued through TARP were bought back from Treasury in June; half by First Capital and half by an outside buyer. The purchase of warrants completes the involvement in TARP.

Markel (MKL)
The specialty insurer continued to sell off its stake of Richmond-based Union First Market Bank with the sale of 85,584 shares for a total of $774,000, an average share price of $17.73 per share. Markel still owns 2.5 million shares of Union stock.

Markel also disclosed that a class action lawsuit was filed in federal court in New York seeking to block its pending acquisition of Alterra, a Bermuda-based reinsurance company. Filed on behalf of shareholders of Alterra, accuses the Bermuda company, its board, and Markel of, among other things, violations of the securities laws and the Bermuda Companies Act.

MeadWestvaco (MWV)
James Kaiser, a director, exercised options for 1,692 shares at $20.80 per share, or a total of $35,000.

Universal Corp. (UVV)
James Huffman, a director, sold 950 shares at $56.40

Charles Foster Jr., a director, exercised options for 2,000 shares at $43.12 per share. He then sold those shares at $46.70 for a total of $92,000.

Director Eddie Moore Jr. exercised options for 2,000 shares at $46.70. He them sold them at $56.08 per share for a total of $112,000.

Theodore Broome, an officer at one of the company’s subsidiaries, exercised options for 8,000 shares at $46.37 per share. He then sold those 8,000 shares for $55.67 each or $445,000

John Adams Jr., a director, exercised options for 4,000 shares for a total price of $179,000. He then sold the shares at $56.30 each for a total of $225,000.

CFO David Moore exercised options for 6,000 shares at $46.34 each. He sold the shares at market price for a $56.46 each or a total of $338,000.

Chief Operating Officer Keith Brewer exercised options for 17,800 shares at $51.32 each. He then sold 18,617 shares at $1.04 million.

Xenith Bankshares (XBKS)
The company approved an annual incentive plan for its top executives tied to net income goals. CEO Gaylon Layfield has the ability to earn an incentive award of up to 60 percent of his $260,000 annual base salary. CFO Thomas Osgood, COO Ronald Davis and Chief Credit Officer Wellington Cottrell III can earn an award of up to 45 percent of their $241,000 base salaries.

CarMax (KMX)
Rakesh Gangwal, a director, bought 30,000 shares at $39.43 per share for a total of $1.18 million.

Community Bankers Trust (BTC)
Thomas Townsend, chief credit officer at the company’s Essex Bank subsidiary, bought 2,500 shares at $2.95 each.

First Capital Bancorp (FCVA)
The parent of First Capital Bank announced it repurchased all of the 250,947 warrants of common stock it issued to the U.S. Treasury as part of the TARP program for a price of $260,042. The 10,958 shares of preferred stock it issued through TARP were bought back from Treasury in June; half by First Capital and half by an outside buyer. The purchase of warrants completes the involvement in TARP.

Markel (MKL)
The specialty insurer continued to sell off its stake of Richmond-based Union First Market Bank with the sale of 85,584 shares for a total of $774,000, an average share price of $17.73 per share. Markel still owns 2.5 million shares of Union stock.

Markel also disclosed that a class action lawsuit was filed in federal court in New York seeking to block its pending acquisition of Alterra, a Bermuda-based reinsurance company. Filed on behalf of shareholders of Alterra, accuses the Bermuda company, its board, and Markel of, among other things, violations of the securities laws and the Bermuda Companies Act.

MeadWestvaco (MWV)
James Kaiser, a director, exercised options for 1,692 shares at $20.80 per share, or a total of $35,000.

Universal Corp. (UVV)
James Huffman, a director, sold 950 shares at $56.40

Charles Foster Jr., a director, exercised options for 2,000 shares at $43.12 per share. He then sold those shares at $46.70 for a total of $92,000.

Director Eddie Moore Jr. exercised options for 2,000 shares at $46.70. He them sold them at $56.08 per share for a total of $112,000.

Theodore Broome, an officer at one of the company’s subsidiaries, exercised options for 8,000 shares at $46.37 per share. He then sold those 8,000 shares for $55.67 each or $445,000

John Adams Jr., a director, exercised options for 4,000 shares for a total price of $179,000. He then sold the shares at $56.30 each for a total of $225,000.

CFO David Moore exercised options for 6,000 shares at $46.34 each. He sold the shares at market price for a $56.46 each or a total of $338,000.

Chief Operating Officer Keith Brewer exercised options for 17,800 shares at $51.32 each. He then sold 18,617 shares at $1.04 million.

Xenith Bankshares (XBKS)
The company approved an annual incentive plan for its top executives tied to net income goals. CEO Gaylon Layfield has the ability to earn an incentive award of up to 60 percent of his $260,000 annual base salary. CFO Thomas Osgood, COO Ronald Davis and Chief Credit Officer Wellington Cottrell III can earn an award of up to 45 percent of their $241,000 base salaries.

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