Trading Day: Local SEC filings for 3.22.18

Apple Hospitality REIT (APLE)

The hotel-focused real estate investment trust has filed an investor presentation to be used at various conferences and meetings in coming week. Click here to see a copy of the presentation.

Bay Bank of Virginia (BAYK) 

The parent of Virginia Commonwealth Bank announced the retirement of CFO James Wilson, effective March 12. As per an arrangement with the bank, Wilson will be paid $100,000, equal to six months’ salary. He had been with VCB for nearly 30 years. 

The company said Wilson will be succeeded by Judy Gavant. She’ll step into the role immediately after the company files its 10-K annual report from the year ending 2017. Gavant, 58, is a CPA and was most recently controller and chief accounting officer of Xenith Bankshares, which was acquired earlier this year by Union Bankshares. She also previously worked for Owens & Minor, Tredegar Corp. and Dominion Energy. She has a bachelor’s from Louisiana State University and a master’s from VCU.

Gavant entered into a three-year employment agreement with VCB that will pay her an an initial base salary of not less than $230,000 and one-time signing bonus of $150,000, along with other incentives and bonuses, including a stock option for 5,000 shares of the company’s common stock.

In the interim until Gavant’s arrival, CEO Randy Greene will take on the duties of CFO. 

C&F Financial (CFFI)

The parent of C&F Bank released its latest proxy statement, disclosing the compensation packages paid to its top executives in 2017.

Chairman and CEO Larry Dillon received $910,000 in total compensation for the year, up from $879,000 in 2016. His 2017 total included a base salary of $323,000, $195,000 in incentive pay $145,000 in stock awards and other perks. Click here and see page 34 for the full compensation table.

The proxy also announced the date of the company’s annual shareholders meeting, which will be held April 17 at its headquarters in Toano.

Brink’s (BCO)

The armored car giant updated a slideshow it uses for meetings with investors and analysts. Click here to see a copy of the slides. Brink’s also announced its annual shareholders meeting, which will be held May 4 in Southlake, Texas.

Community Bankers Trust (ESXB)

The parent of Essex Bank said it dismissed BDO USA as its independent registered public accounting firm, effective March 16. It has since hired Yount, Hyde & Barbour in BDO’s place.

Dynex Capital (DX)

The mortgage REIT amended its bylaws to implement majority voting in uncontested elections of directors. Click here to see the full amendment.

Markel (MKL)

The insurance underwriter’s vice chairman Steven Markel sold 200 shares for $228,016.38. Click here to read the full report.

Performance Food Group (PFGC)

The Goochland-based foods distributor reported the appointment of Manuel A. Fernandez to its board of directors. Click here to read the full announcement.

Union Bankshares (UBSH)

The parent of Union Bank & Trust released its latest proxy statement, disclosing its annual executive compensation breakdown for 2017.

President and CEO John Asbury received a total package of $1.73 million, including a base salary of $650,000, $552,000 in stock awards, $480,000 in incentive pay and other perks. Click here for the full compensation table.

The company announced that its annual shareholders meeting will be held May 1 at The Westin Richmond at 6631 W. Broad St.

Village Bank and Trust Financial (VBFC)

The parent of Village Bank raised $5.7 million in debt that will be used to buy back $5.02 million worth of previously issued preferred stock. The move is expected to save $160,000 annually in dividend payments that were due on the preferred stock. Village used FIG Partners as placement agent in the transaction. Williams Mullen served as legal counsel.

Apple Hospitality REIT (APLE)

The hotel-focused real estate investment trust has filed an investor presentation to be used at various conferences and meetings in coming week. Click here to see a copy of the presentation.

Bay Bank of Virginia (BAYK) 

The parent of Virginia Commonwealth Bank announced the retirement of CFO James Wilson, effective March 12. As per an arrangement with the bank, Wilson will be paid $100,000, equal to six months’ salary. He had been with VCB for nearly 30 years. 

The company said Wilson will be succeeded by Judy Gavant. She’ll step into the role immediately after the company files its 10-K annual report from the year ending 2017. Gavant, 58, is a CPA and was most recently controller and chief accounting officer of Xenith Bankshares, which was acquired earlier this year by Union Bankshares. She also previously worked for Owens & Minor, Tredegar Corp. and Dominion Energy. She has a bachelor’s from Louisiana State University and a master’s from VCU.

Gavant entered into a three-year employment agreement with VCB that will pay her an an initial base salary of not less than $230,000 and one-time signing bonus of $150,000, along with other incentives and bonuses, including a stock option for 5,000 shares of the company’s common stock.

In the interim until Gavant’s arrival, CEO Randy Greene will take on the duties of CFO. 

C&F Financial (CFFI)

The parent of C&F Bank released its latest proxy statement, disclosing the compensation packages paid to its top executives in 2017.

Chairman and CEO Larry Dillon received $910,000 in total compensation for the year, up from $879,000 in 2016. His 2017 total included a base salary of $323,000, $195,000 in incentive pay $145,000 in stock awards and other perks. Click here and see page 34 for the full compensation table.

The proxy also announced the date of the company’s annual shareholders meeting, which will be held April 17 at its headquarters in Toano.

Brink’s (BCO)

The armored car giant updated a slideshow it uses for meetings with investors and analysts. Click here to see a copy of the slides. Brink’s also announced its annual shareholders meeting, which will be held May 4 in Southlake, Texas.

Community Bankers Trust (ESXB)

The parent of Essex Bank said it dismissed BDO USA as its independent registered public accounting firm, effective March 16. It has since hired Yount, Hyde & Barbour in BDO’s place.

Dynex Capital (DX)

The mortgage REIT amended its bylaws to implement majority voting in uncontested elections of directors. Click here to see the full amendment.

Markel (MKL)

The insurance underwriter’s vice chairman Steven Markel sold 200 shares for $228,016.38. Click here to read the full report.

Performance Food Group (PFGC)

The Goochland-based foods distributor reported the appointment of Manuel A. Fernandez to its board of directors. Click here to read the full announcement.

Union Bankshares (UBSH)

The parent of Union Bank & Trust released its latest proxy statement, disclosing its annual executive compensation breakdown for 2017.

President and CEO John Asbury received a total package of $1.73 million, including a base salary of $650,000, $552,000 in stock awards, $480,000 in incentive pay and other perks. Click here for the full compensation table.

The company announced that its annual shareholders meeting will be held May 1 at The Westin Richmond at 6631 W. Broad St.

Village Bank and Trust Financial (VBFC)

The parent of Village Bank raised $5.7 million in debt that will be used to buy back $5.02 million worth of previously issued preferred stock. The move is expected to save $160,000 annually in dividend payments that were due on the preferred stock. Village used FIG Partners as placement agent in the transaction. Williams Mullen served as legal counsel.

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