Day: April 13, 2017

Omega Healthcare’s Insoft sells $3 million in shares

Omega HealthcareHUNTS VALLEY, MD — Omega Healthcare Investors Inc. executive Steven Insoft, the head of corporate development for the Hunts Valley-based health care REIT, sold $2.98 million in shares on Tuesday, according to a filing from the Securities and Exchange Commission

The 87,500 sold shares were equal to 20.6 percent of the common stock shares Insoft owned in 2016, according to the company’s most recent report on executive compensation. He still owns more than 320,000 common stock shares in the firm.

He filed the transactions Thursday, minutes after the stock market closed early in observance of Good Friday.

The last time Insoft sold company shares was mid-March, disposing of roughly $387,000 in shares. The most recent company stock transaction from a company leader came from Edward Lowenthal, a director, who sold 637 shares in March, just 1.5 percent of his common stock stake, worth $19,900.

The transaction occurs weeks within the release of Omega’s financial report for the first quarter ended March 31. Analysts expect quarterly earnings of 51 cents per share, compared to earnings of 29 cents per share during the same quarter last year and 63 cents per share during the most recent quarter.

Also on Thursday, Omega announced a common stock dividend of 63 cents, up 1 cent from last quarter. It is its 19th consecutive dividend increase.

The company’s stock price fell Thursday to $34.06, down 0.1 percent from Wednesday, and up 10.4 percent over the month.

This story is from the Maryland Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism

Under Armour CEO Plank’s compensation decreases 19 percent

Under Armour, Inc. Logo.  (PRNewsFoto/Under Armour, Inc.)

Under Armour, Inc. Logo. (PRNewsFoto/Under Armour, Inc.)

BALTIMORE, MD — Under Armour Inc.’s chief executive officer saw a 19 percent decrease in total compensation in the company’s 2016 fiscal year as he did not receive incentive compensation, according to the company’s proxy statement filed with the Securities and Exchange Commission.

Kevin A. Plank’s compensation for the fiscal year totaled $2.03 million, down from $2.43 million in the company’s 2015 fiscal year. Plank has a base salary of $26,000, unchanged from 2015, and received $2 million in stock awards.

Plank did not receive incentive compensation for fiscal year 2016. In 2015, he received $400,000. After a disappointing fourth quarter, Under Armour determined that it was unlikely that Plank could achieve the company’s target level of performance in 2017.

Under Armour’s fourth-quarter net income fell 1 percent to $105 million, well below Wall Street predictions of $113 million. Revenue for the quarter was reported as $1.31 million, also falling short of the expected $1.41 million.

Lawrence Molloy, who assumed the position of chief financial officer Feb. 3, received total compensation of $6.72 million during the 2016 fiscal year. This includes a base salary of $633,462 and $5.8 million in stock awards.

For the year, company revenue grew 22 percent to $4.38 billion and saw a 19 percent increase in wholesale revenues to $3.1 billion. Under Armour has predicted 2017 net revenue of $5.4 billion.

The company’s stockholders meeting will be held on Wednesday, May 31, at 10 a.m., at the company’s office located at 2601 Port Covington Drive in Baltimore.

Under Armour’s shares were down 10 cents to $17.76 in Thursday morning trading.

This story is from the Maryland Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism


Bay Bancorp CEO Thomas sees 4.6 percent increase in compensation

bay bankCOLUMBIA, MDThe chief executive officer of Bay Bancorp Inc. received a 4.6 percent increase in total compensation to $374,596 in 2016, according to the company’s proxy statement filed Wednesday with the Securities and Exchange Commission.

Joseph Thomas’ total compensation in 2015 had been $358,009.

Thomas’ base salary increased to $300,600 in 2016, up 1.4 percent from $296,539 in 2015. He also received a bonus of $45,548, contributing to the overall rise. In addition to base salary, Thomas receives an annual cash and stock bonus award valued at 50 percent of salary, dependent upon individual performance.

Thomas, 53, has served as president and CEO of Bay Bancorp since 2014. He served as director since its founding in 2010. Thomas previously worked at Hovde Private Equity Advisors and Financial Services Partners Fund I.

Executive Vice President and Chief Financial Officer Larry Pickett also saw his total compensation increase 17 percent in 2016 to $294,355 from $250,029 in 2015. His base salary increased 3.3 percent to $225,173 from $218,077. Stock awards of $44,415 contributed to his overall total increase.

Bay Bancorp is the savings and loan holding company for subsidiary, Bay Bank, FSB. It operates with a network of 11 sales offices located throughout the Baltimore Metropolitan Statistical Area and serves business, real estate owners, professionals and consumers.

Bay Bancorp’s annual meeting of shareholders will be held May 24 at 9 a.m. in Columbia.

The company’s stock closed Wednesday at $7.25 per share, down 1.36 percent.

This story is from the Maryland Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism

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