Correction: An earlier version of this post incorrectly reported that Vance Spilman, director at Bay Banks of Virginia, received 2,000 shares of the company’s stock and options for 500 shares as part of his appointment to the board. He in fact owned those shares prior to being elected and the options were granted while he was a director of Virginia Commonwealth Bank’s previous parent company, prior to its merger with Bay Banks.
The used car retailer’s board of directors has elected Pietro Satriano to its board, effective Oct. 1. Click here to see the full announcement.
Performance Food Group (PFGC)
The Goochland-based foods distributor announced the date of the company’s annual shareholders meeting, to be held Nov. 13 at the Hilton Richmond Short Pump Hotel. Click here for the full announcement.
President and CEO George Holm sold 1,900 shares at $33.22 per share for a total of $63,118.
Senior vice president Craig Hoskins sold 10,500 shares at $32.37 for a total of $339,885.
Executive vice president Patrick Hagerty sold $450 shares at $33.30 per share for a total of $14,985.
Bay Banks of Virginia (BAYK)
The parent of Virginia Commonwealth Bank elected Vance Spilman, to its board of directors.
Spilman is CEO of Leaf Spring Schools, a national preschool and after school chain. He was also previously president of frozen yogurt chain Sweet Frog and held management positions at NationsBank Capital Markets and First Union/Wheat First Securities. He has a bachelor’s and master’s degree from UVA.
Union Bankshares (UBSH)
The bank reported that former longtime CEO Billy Beale resigned from the company’s board of directors, effective Sept. 30, in order to pursue his consulting business.
Beale was CEO from 1993 until 2017. The company said in connection with his resignation, it has terminated Beale’s role as a senior advisor. He’ll continue to receive his transition fee and benefit, including insurance until March 31, 2019, as well as access to an office until that date.