Apple REIT
Apple REIT Ten, one of the company’s REIT funds, entered into a series of purchase contracts for the potential purchase of three hotels. The properties include a Residence Inn in San Juan Capistrano, Calif, and a Fairfield Inn & Suites and Residence Inn in Tustin, Calif. The expected total purchase price for the three hotels is $103 million.
The Brink’s Co. (BCO)
The armored transport giant said it has exited the cash handling market in the Netherlands due to the previously disclosed loss of its largest customer in that country. The company said it sold its shares of Brink’s Netherlands, B.V., for nominal value to Stichting Continuiteit Brink’s Nederland, an independent foundation that was formed to benefit the interests of remaining stakeholders including former employees of Brink’s, customers and vendors. The foundation has the right to use the Brink’s name for up to one year. The company expects to incur a charge of $20 million to $25 million against fourth-quarter earnings related to restructuring costs and the sale of the business.
CarMax (KMX)
Many of the company’s top executives exercised options just before and after the New Year. Among them, CEO Tom Folliard exercised options for 209,951 shares at $25.39 per share. He then sold those shares at $67.79 for a total sale of $14.23 million.
C&F Financial (CFFI)
As part of a succession plan, the company promoted CFO Thomas F. Cherry to president of the holding company and its C&F Bank subsidiary. Cherry will continue as CFO until a successor is named. Larry Dillon will remain the chairman and CEO of both the bank and the holding company. Cherry, 45, has been with C&F for 18 years. He is a graduate of Old Dominion University and has a master’s from William & Mary.
Eastern Virginia Bankshares
Boris Gutin, a director, who joined the board from an investment firm as a result of the bank’s recent capital raise, acquired a total of 13,754 shares for an average of $6.22 per share or approximately $85,500.
First Capital Bancorp (FCVA)
The company approved an annual cash dividend policy, with the first dividend expected to be paid in the second quarter of 2015. It anticipates the initial annual dividend will be $.04 per share.
It also authorized a share repurchase program to purchase up to 300,000 shares of its outstanding common stock. It permits management to repurchase the shares from time to time at management’s discretion through Dec. 31, 2015.
Genworth Financial (GNW)
Leon E. Roday, 60, the company’s general counsel, said he intends to retire from Genworth during the first quarter of 2015. Roday, 60, has been with the company and its predecessors for more than 18 years. Genworth said Roday will likely continue to serve as a director of Genworth MI Canada Inc., Genworth Mortgage Insurance Australia Limited, Financial Insurance Company Limited and Financial Assurance Company Limited for at least an additional year after his retirement, and be paid for that service accordingly.
Media General (MEG)
The downtown TV station conglomerate finalized its merger with LIN Media LLC. As a result of the deal, George Mahoney stepped down as CEO. The new chief executive of the combined companies is Vincent L. Sadusky, who was previously LIN Media’s CEO.
Apple REIT
Apple REIT Ten, one of the company’s REIT funds, entered into a series of purchase contracts for the potential purchase of three hotels. The properties include a Residence Inn in San Juan Capistrano, Calif, and a Fairfield Inn & Suites and Residence Inn in Tustin, Calif. The expected total purchase price for the three hotels is $103 million.
The Brink’s Co. (BCO)
The armored transport giant said it has exited the cash handling market in the Netherlands due to the previously disclosed loss of its largest customer in that country. The company said it sold its shares of Brink’s Netherlands, B.V., for nominal value to Stichting Continuiteit Brink’s Nederland, an independent foundation that was formed to benefit the interests of remaining stakeholders including former employees of Brink’s, customers and vendors. The foundation has the right to use the Brink’s name for up to one year. The company expects to incur a charge of $20 million to $25 million against fourth-quarter earnings related to restructuring costs and the sale of the business.
CarMax (KMX)
Many of the company’s top executives exercised options just before and after the New Year. Among them, CEO Tom Folliard exercised options for 209,951 shares at $25.39 per share. He then sold those shares at $67.79 for a total sale of $14.23 million.
C&F Financial (CFFI)
As part of a succession plan, the company promoted CFO Thomas F. Cherry to president of the holding company and its C&F Bank subsidiary. Cherry will continue as CFO until a successor is named. Larry Dillon will remain the chairman and CEO of both the bank and the holding company. Cherry, 45, has been with C&F for 18 years. He is a graduate of Old Dominion University and has a master’s from William & Mary.
Eastern Virginia Bankshares
Boris Gutin, a director, who joined the board from an investment firm as a result of the bank’s recent capital raise, acquired a total of 13,754 shares for an average of $6.22 per share or approximately $85,500.
First Capital Bancorp (FCVA)
The company approved an annual cash dividend policy, with the first dividend expected to be paid in the second quarter of 2015. It anticipates the initial annual dividend will be $.04 per share.
It also authorized a share repurchase program to purchase up to 300,000 shares of its outstanding common stock. It permits management to repurchase the shares from time to time at management’s discretion through Dec. 31, 2015.
Genworth Financial (GNW)
Leon E. Roday, 60, the company’s general counsel, said he intends to retire from Genworth during the first quarter of 2015. Roday, 60, has been with the company and its predecessors for more than 18 years. Genworth said Roday will likely continue to serve as a director of Genworth MI Canada Inc., Genworth Mortgage Insurance Australia Limited, Financial Insurance Company Limited and Financial Assurance Company Limited for at least an additional year after his retirement, and be paid for that service accordingly.
Media General (MEG)
The downtown TV station conglomerate finalized its merger with LIN Media LLC. As a result of the deal, George Mahoney stepped down as CEO. The new chief executive of the combined companies is Vincent L. Sadusky, who was previously LIN Media’s CEO.