Apple REIT Companies
The company recommend to shareholders of its Apple REIT Six and Eight funds that they should reject an offer from a California investment company to purchase their shares.
The company disclosed the resignation of Lisa B. Kern, a board member at Apple REIT Six, Seven and Nine. Kern accepted a new job that prohibits her from service on the board of any publicly-held company.
Rakesh Gangwal, a director, bought 10,000 shares at $39.39 per share, a $393,000 purchase.
The company elected Pamela J. Royal to its board of directors effective March 1. Royal, 50, is a dermatologist and has been the owner and president of Richmond-based Royal Dermatology and Aesthetic Skin Care since 1990. Royal received an M.D. from Eastern Virginia Medical School and served her residency at Howard University Hospital.
The insurer continued to sell off of its holdings in Richmond-based Union First Market Bank. Markel this week sold a total of 42,900 shares in three sales totaling approximately $762,000. Markel still owns more than 2.4 million Union shares.
The company disclosed that a settlement has been proposed in a lawsuit filed against Markel and Alterra, the Bermuda reinsurance firm it is acquiring. Alterra stockholder Louisiana Municipal Police Employees Retirement System filed the suit alleging the joint proxy statement filed by Alterra and Markel in January omits allegedly material information. Markel said it believes the claims are without merit, but that Alterra is voluntarily making further disclosures to avoid delaying the acquisition.
Michael Campbell, a director, exercised options for 1,692 shares at $20.80 per share or $56,000. He then sold 1,126 shares at $31.61 for a total of
Owens & Minor (OMI)
The company named Richard A. “Randy” Meier as its new CFO, effective March 1. Meier, 53, for the last two years was CFO of Teleflex, a medical device company. He is a graduate of Princeton University with a Major in Economics. Meier will take over for Michael Lowry, who briefly served as interim CFO. Lowry will resume his role as vice president and treasurer.
Universal Corp. (UVV)
Ray Paul Jr., an officer at a Universal subsidiary, exercised rights to acquire 14,400 shares for a total of $769,000. He then sold 8,500 shares at $55.49 per share for a total of $471,000.
Preston Wigner, the company’s general counsel, exercised rights to acquire 5,066 shares at $39.71 per share. He then sold 4,161 shares at $55.45 each or $230,000.
CFO David Moore sold 4,500 shares for $55.62 per share, a total of $250,000.