The market has made several new millionaires in the last few months and brought smaller windfalls to dozens of investors and executives who sold some of their own stock along with the shares offered by the company itself.
Syscon Corp. Chairman Jose J. Yglesias earned $2.5 million by selling 100,000 shares of his company's stock in a June underwriting. Corporate Secretary Fred Israel sold 105,000 shares for $2.625 million.
The Evaluation Research offering meant more than $1 million for H. Kent Mills, president of the company's EMT subsidiary, and more than $900,000 to President Jack E. Aalseth.
Kenneth S. Battye, one of the founders of the predecessor of Legg Mason Inc. and still its biggest shareholder, sold 118,000 shares at $17.25 each for a total of more than $2 million when the Baltimore brokerage went public last summer. Legg Mason executives Philip O. Rogers and Standish McCleary Jr. earned roughly $1 million each on that offering.
Robert and George Erikson, the brothers who founded Cerberonics, picked up $942,000 apiece from their company's offering. Robert Deutsch, chairman of General Physics, sold $1.6 million worth of his company's stock.
When Heilig-Meyers Co., a Richmond furniture retailer with 83 stores in Virginia and the Carolinas, sold 1.7 million shares in February, two-thirds of the proceeds went to members of the company's founding families. Sisters Katherine C. Meyers and Nancy M. Marsiglia each sold 115,000 shares, yielding them $2.5 million apiece. Their father, S. Sidney Meyers, sold stock worth $1.9 million. hree individuals sold more than $1 million worth of stock in the offering by Bassett-Walker Inc., the Martinsville, Va., firm that last year sold $85 million worth of sweatshirts and jogging suits carrying labels like Adidas, Walt Disney, J.C. Penney and Sears. Chairman L. Dudley Walker sold a fraction of his holdings for $3.1 million and directors Spotswood Walker Box and George H. Box Jr. earned about $1.5 million each.
The initial public sale of shares of Farm Fresh, the 25-store Norfolk retailer, yielded more than $1 million each to nine members of a group that still controls 40 percent of the company's shares. Chairman David Furman sold stock worth slightly more than $3 million. His son and daughter, Randall I. Furman and Jolene Shapiro, each took in just under $3 million. Farm Fresh President Eugene Walters and Vice President J. Stanley Furman sold more than $2.5 million worth of stock each.