Chairman, President and CEO Larry Dillon exercised options for 1,015 shares at $22.75 per share. He then sold those shares at market price for a total of around $41,000.
Media General (MEG)
The company announced that President and CEO Marshall Morton plans to retire at the end of 2012. Morton, 66, has been with Media General for 23 years. Mr. Morton has been president and chief executive officer since July 1, 2005. He earned B.A. and MBA. degrees from the University of Virginia.
George Mahoney, a vice president at the company, will succeed Morton effective Jan. 1. Mahoney, 60, in the interim will serve as COO. Mahoney joined Media General in 1993 as general counsel. He holds B.A. and J.D. degrees from the University of Virginia.
Morton also received 607 shares of phantom stock. The shares become payable in cash upon Morton’s termination of employment with the company. He owns 79,000 such shares and another 343,000 shares of the company’s class A stock.
The company awarded its top executives shares of restricted stock as part of an incentive plan. President and CEO Thomas Gottwald received 410 such shares at no cost as part of the plan.
Owens & Minor (OMI)
G. Gilmer Minor III, chairman and retired CEO of the company, sold 32,500 of his shares for a total of $912,000, or around $28 per share. He still owns more than 76,000 shares of O&M stock.
Universal Corp. (UVV)
CFO David Moore exercised options for 10,333 shares valued at or a total of $381,000. He then sold 8,690 shares at market price for a total of approximately $418,000.
Chairman and CEO George Freeman III exercised stock appreciation rights for 20,000 shares at $35.30 each. He then sold 16,000 shares at $48.45 per share for a total of $775,000.
Robert Peebles, the company’s controller, exercised rights to 10,000 shares at $35.30 per share. He then sold 8,160 shares at market price at $48.45 per share or $395,000.
Ray Paul Jr., president of one of the company’s subsidiaries, exercised rights to 15,000 shares for a total of $565,000. He then sold 22,787 shares at market price for approximately $1 million.
Xenith Bankshares (XBKS)
Wellington Cottrell III, the bank’s chief credit officer, bought 785 shares at an average of $4.04 per share.
Xenith awarded its top executives options for thousands of shares each. Among them, President and CEO Gaylon Layfield received options for 69,600 shares with an exercised price of $4.15 per share. The options are good beginning next year and run through 2015.