Insider Transactions is a weekly report of stock transactions involving officers and directors of publicly owned local companies.

Stock trading by corporate insiders often is a bellwether of corporate health. Most insiders buy stock or exercise options to make a profit. And insiders may be selling stock for tax reasons, estate planning or cash needs.

The following insider transactions involving companies in Maryland, Virginia and the District were compiled by States News Service from reports to the Securities and Exchange Commission. ALPHA 1 BIOMEDICALS INC.

Joseph C. McNay, a director of Alpha 1 Biomedicals of Washington, bought 12,000 common shares June 22 for $4.25 each, and now owns 112,000 common shares directly.AMERICAN REPUBLIC BANCORP

Thomas E. Malloy, chairman of American Republic Bancorp, bought 7,900 common shares of the Severna Park, Md., company from June 7 to June 27 for $7.75 to $8.13 each, and now controls 112,223 common shares directly and 12,100 common shares indirectly.AMERICAN WOODMARK CORP.

Gene S. Morphis, a vice president of American Woodmark of Winchester, Va., bought 1,500 common shares June 20 for $6.25 each, and now owns 2,000 common shares directly.BANK MARYLAND CORP.

Hildebert F. Criste, chairman of Bank Maryland of Towson, bought 6,000 common shares from June 25 to June 29 for $8.75 to $9.25 each, and now holds 54,552 common shares directly and 29,030 common shares indirectly.

Lawrence R. Rachuba, a director, sold 2,700 common shares May 14 for $12 each, and holds 21,226 common shares directly and 7,500 common shares indirectly.BANKNORTH GROUP INC.

Luther F. Hackett, a director of Banknorth Group of Towson, bought 1,000 common shares May 18 for $14.63 each, and now controls 3,526 common shares directly and 20,450 common shares indirectly.EASCO HAND TOOLS INC.

John H. Doak, a vice president of Easco Hand Tools of Hunt Valley, Md., sold 45,000 common shares June 5 and June 6 for $8.63 to $8.75 each, and disposed of 218,936 common shares through an exchange on June 7. Doak holds no more company common shares.F&M BANCORP

John C. Warfield, a director of F&M Bancorp of Frederick, Md., bought 1,000 common shares June 19 for $19.25 each. Warfield holds 3,868 common shares directly and 5,909 common shares indirectly.F&M NATIONAL CORP.

W.E. Bridgeforth Jr., a director of F&M National of Winchester, Va., bought 1,500 common shares June 14 for $13 each, and controls 37,998 common shares directly and 43,903 common shares indirectly.HADRON INC.

Infotechnology Inc., a beneficial owner of Hadron Inc. of Fairfax, bought 100,000 common shares June 4 for 28 cents each. It now holds 1.3 million common shares directly and 500,000 common shares indirectly.LAFARGE CORP.

Fred W. Koester, a vice president of Lafarge of Reston, exercised options for 2,673 common shares June 21 at $11.25 each, and now owns 5,570 common shares directly.MARRIOTT CORP.

Francis W. Cash, a vice president of Marriott of Bethesda, privately sold 10,000 common shares June 5 for $26.13 each. Cash holds 122,868 common shares directly and 40,000 common shares indirectly.MARTIN MARIETTA CORP.

A. Thomas Young, president of Martin Marietta of Bethesda, sold 2,755 common shares June 4 for $43.13 to $43.25 each, and now owns 9,060 common shares directly.McCORMICK & CO.

Charles P. McCormick Jr., chairman of McCormick of Hunt Valley, Md., exercised options for 4,087 common shares June 27 and June 28 at $8.81 to $11 each. He also exercised options for 8,173 class N common shares on the same days for the same prices. McCormick now controls 191,727 common shares directly and 919 common shares indirectly, and 18,965 class N common shares directly and 434 class N common shares indirectly.

President Bailey A. Thomas exercised options for 7,914 common shares June 20 at $4.83 to $8.81 each, and 11,045 class N common shares at the same prices. Thomas holds 35,324 common shares directly, 100 common shares indirectly, 31,023 class N common shares directly and 2,550 class N common shares indirectly.

James A. Hooker, a vice president, exercised options for 1,490 common shares June 20 at $11 each, and 4,052 class N common shares for $11 to $13.38 each. Hooker owns 18,224 common shares and 10,632 class N common shares directly.

Richard W. Single, a vice president, exercised options for 2,525 common shares June 21 at $9.31 each, and 2,525 class N common shares for the same price. Single owns 11,613 common shares and 10,301 class N common shares directly, along with 301 class N common shares indirectly.REYNOLDS METALS CO.

Rodney Elton Hanneman, a vice president of Reynolds Metals of Richmond, exercised options for 1,250 common shares June 20 for $16 each. Hanneman owns 2,796 common shares directly.ROUSE CO.

Richard E. Taylor, a vice president of Rouse Co. of Columbia, Md., disposed of 6,896 common shares through a June 6 exchange for an undisclosed price. Taylor owns 23,104 common shares directly.UNC INC.

Dan A. Colussy, chairman of UNC of Annapolis, bought 5,000 common shares June 22 for $3.88 each, and now owns 41,000 common shares directly.THE WASHINGTON POST CO.

Joel Chaseman, a vice president of The Washington Post Co., acquired 12,006 class B common shares of the Washington company June 6 for $258 each, and now owns 13,614 class B common shares directly.TULTEX CORP.

John M. Tully, a director of Tultex of Martinsville, Va., sold 4,000 common shares June 7 for $8.25 each. Tully holds 335,223 common shares directly and 88,997 common shares indirectly.VERSAR INC.

Gayaneh Contos, a vice president of Versar of Springfield, purchased 2,300 common shares June 21 to June 28 for $4.25 each. Contos owns 27,564 common shares directly.

Robert P. Ouellette, a vice president, sold 2,000 common shares June 29 for $4.38 each, and now owns 23,290 common shares directly.