Bay Banks of Virginia (BAYK)
The company announced that Vance Spilman, CEO of preschool franchise company Rainbow Station, has been elected to the board of directors of its VCB Financial Group subsidiary. Spilman was previously president of Richmond-based fro-yo chain Sweet Frog. He has a bachelor’s and master’s degree from UVA.
The armored car giant updated slides it uses for meetings with investors and analysts. The updated slides can be viewed here.
C&F Financial (CFFI)
Bryan McKernon, president of the company’s mortgage arm, sold 1,000 shares at $60 per share and another 1,000 shares at $59.25 apiece, for a total of $119,250.
Kinsale Capital Group (KNSL)
Chief information officer William Kenney Jr. sold 26,904 shares at $43.49 apiece for a total of $1.17 million.
Chief claims officer Ann Marson sold 10,000 shares at $43 each for a total of $430,000.
Universal Corp. (UVV)
Subsidiary officer James Huffman gifted 110 shares of common stock. He now directly owns 24,004 shares.
Xenith Bankshares (XBKS)
The company disclosed transaction bonus agreements it entered into with its top executives related to its pending deal to be acquired by the parent of Union Bank & Trust. The lump sum payments will be made when the deal becomes effective. The payouts will be as follows: CEO Gaylon Layfield, $1.4 million; President and COO Donna Richards, $1.25 million; CFO Thomas Osgood, $1.25 million; Thomas Dix co-head of commercial banking for the company’s Maryland and North Carolina operations, $350,000.
Chief credit officer Wellington Cottrell exercised options for 20,812 shares at an average exercise price of $13.57 per share. He then sold 4,217 shares at market price for a total of $139,000.
CFO Thomas Osgood exercised options for 36,124 shares at an average exercise price of $13.57 per share.