Apple REIT Companies
The downtown-based real estate investment trust said it is reinstating its share redemption program on a limited basis for its Apple Hospitality REIT to potentially buy back up to 1.17 million shares of its common stock from shareholders at $9.20 per share or a total of $10.8 million. It said the redemptions will be limited to “the death or eligible disability of a shareholder.”
The company said it believes the program will “provide shareholders with liquidity opportunities in extenuating circumstances that may not have been anticipated when a shareholder purchased shares that are not traded on an established trading market.”
AHR also published an estimated per share value of its stock of $10.30 per share, as of Dec. 31. It did so to assist trustees and custodians of IRAs that have its shares as an investment. The company did the same for its Apple REIT Ten fund, disclosing an estimated value of $11.55 per share.
C&F Financial (CFFI)
The parent company of C&F Bank announced the election of recently promoted president Thomas Cherry to the board of directors.
Community Bankers Trust (ESXB)
President and CEO Rex Smith received a one time bonus of $100,000 for his service to the company. Smith had previously not been part of the company’s executive incentive program because of its participation in the TARP Capital Purchase Program. TARP restricted bonuses to certain executives of banks that received money through the program. The company exited that program last spring.
Genworth Financial (GNW)
Leon Roday, the company’s outgoing general counsel who will retire next month, will receive monthly cash payments of $20,000 for his continued service on the boards of Genworth MI Canada Inc., Genworth Mortgage Insurance Australia, Financial Insurance Co. and Financial Assurance Co. after his retirement.
Ward E. Bobitz succeeds Roday as Genworth’s general counsel. He was most recently deputy general counsel and has been with the firm for 17 years.
MeadWestvaco (MWV)
CEO John Luke sent a letter to the company’s employees regarding its planned merger with a Georgia-based packaging firm Rock-Tenn. Click here to see the letter.
NewMarket (NEU)
The company announced the following bonuses for its top executives: $750,000 for CEO Thomas Gottwald; $140,000 for CFO Brian Paliotti; $500,000 for Afton Chemical President Robert Shama; $350,000 for chief administrative officer Bruce Hazelgrove; $330,000 for general counsel Steven Edmonds; and $210,000 for outgoing CFO David Fiorenza.
Tredegar Corp. (TG)
John D. Gottwald, a director, exercised options to acquire 100,000 shares at $15.80 per share. He directly owns 1.88 million shares of the company’s stock.
Village Bank & Trust Financial (VBFC)
Director Donald Balzer Jr. resigned from the company’s board. Village said the resignation was not related to any disagreement between the company and Balzer.
Apple REIT Companies
The downtown-based real estate investment trust said it is reinstating its share redemption program on a limited basis for its Apple Hospitality REIT to potentially buy back up to 1.17 million shares of its common stock from shareholders at $9.20 per share or a total of $10.8 million. It said the redemptions will be limited to “the death or eligible disability of a shareholder.”
The company said it believes the program will “provide shareholders with liquidity opportunities in extenuating circumstances that may not have been anticipated when a shareholder purchased shares that are not traded on an established trading market.”
AHR also published an estimated per share value of its stock of $10.30 per share, as of Dec. 31. It did so to assist trustees and custodians of IRAs that have its shares as an investment. The company did the same for its Apple REIT Ten fund, disclosing an estimated value of $11.55 per share.
C&F Financial (CFFI)
The parent company of C&F Bank announced the election of recently promoted president Thomas Cherry to the board of directors.
Community Bankers Trust (ESXB)
President and CEO Rex Smith received a one time bonus of $100,000 for his service to the company. Smith had previously not been part of the company’s executive incentive program because of its participation in the TARP Capital Purchase Program. TARP restricted bonuses to certain executives of banks that received money through the program. The company exited that program last spring.
Genworth Financial (GNW)
Leon Roday, the company’s outgoing general counsel who will retire next month, will receive monthly cash payments of $20,000 for his continued service on the boards of Genworth MI Canada Inc., Genworth Mortgage Insurance Australia, Financial Insurance Co. and Financial Assurance Co. after his retirement.
Ward E. Bobitz succeeds Roday as Genworth’s general counsel. He was most recently deputy general counsel and has been with the firm for 17 years.
MeadWestvaco (MWV)
CEO John Luke sent a letter to the company’s employees regarding its planned merger with a Georgia-based packaging firm Rock-Tenn. Click here to see the letter.
NewMarket (NEU)
The company announced the following bonuses for its top executives: $750,000 for CEO Thomas Gottwald; $140,000 for CFO Brian Paliotti; $500,000 for Afton Chemical President Robert Shama; $350,000 for chief administrative officer Bruce Hazelgrove; $330,000 for general counsel Steven Edmonds; and $210,000 for outgoing CFO David Fiorenza.
Tredegar Corp. (TG)
John D. Gottwald, a director, exercised options to acquire 100,000 shares at $15.80 per share. He directly owns 1.88 million shares of the company’s stock.
Village Bank & Trust Financial (VBFC)
Director Donald Balzer Jr. resigned from the company’s board. Village said the resignation was not related to any disagreement between the company and Balzer.