Director Robert Grafton exercised options for 5,285 shares at $25.67 per share for a total of $135,665.
Eastern Virginia Bankshares (EVBS)
The parent company of EVB said it intends to buy back up to $15 million of its TARP shares from the U.S. Treasury. It will also pay $4.1 million in unpaid TARP dividends. The company took $24 million in TARP capital during the recession. It said it anticipates completing the partial TARP repayment during the second quarter.
Dominion Resources (D)
Director Helen Dragas acquired 3,623 shares at $68.99 per share for a total purchase of approximately $250,000.
James River Coal (JRCC)
The company and several of its top executives agreed to cancel stock options that were due to the individuals and would have vested May 25. That included options for more than 41,000 shares due to Chairman and CEO Peter Socha. JRC is currently in bankruptcy and working to find a buyer for much of the company’s assets. Its shares were delisted from the stock market in recent weeks after closing below $1 per share for more than a month.
Star Scientific (STSI)
The company said it entered into a separation agreement with departed president and COO Paul Perito. He’ll receive severance pay of $2.5 million payable in eight equal quarterly installments. The first payment will be in cash while the company has the option to pay the remaining installments in cash or common stock. Perito will continue to provide consulting services to the company through Dec. 31, 2014 not to exceed 10 hours per month. Anything over 10 hours will be paid at $300 per hour. Perito resigned as president and COO in December. He has since held the title of senior counsel for legal and regulatory affairs.
Tredegar Corp. (TG)
Floyd Gottwald Jr., a major shareholder, acquired 3,185 shares in two transactions totaling $64,000.
Village Bank & Trust Financial (VBFC)
The bank disclosed the compensation agreements for its two new executives, James Hendricks Jr. and Max Morehead. Each became effective on May 16 and will expire on May 15, 2016, unless renewed. Hendricks will serve as chief credit officer and will receive an annual base salary of $180,000. Morehead will serve as head of commercial banking and will be paid a base of $175,000.