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.

The following insider transactions involving local companies were compiled by States News Service from reports to the Securities and Exchange Commission. CACI INTERNATIONAL INC.

J. Phillip London, chairman of the board of CACI International Inc. of Arlington, exercised options to buy 5,000 class B common shares Aug. 16 at $1.87 each. London's direct class B holding is 25,739 shares.CHEMDESIGN CORP.

Richard E. Brooks, chairman of Chemdesign Corp. of Bethesda, exercised options to buy 51,334 common shares at 94 cents to $3.14 per share Aug. 23. Brooks controls 473,021 shares directly and 1,400 shares indirectly.

On the same date, Michael A. Ryan, an officer, exercised options to buy 43,166 common shares at $1 to $3 each. His direct holding is 120,466 shares.COSMETIC & FRAGRANCE CONCEPTS INC.

Donald R. Rogers, a director of Cosmetic & Fragrance Concepts Inc. of Beltsville, bought 1,000 common shares at $5.50 each Aug. 23. He holds 1,000 shares directly and 4,000 shares indirectly.ERC ENVIRONMENTAL & ENERGY SERVICES CO.

Harold D. Bengelsdorf, a vice president of Fairfax-based ERC Environmental & Energy Co., exercised options to buy 1,000 common shares July 2 at $7 each. Bengelsdorf's direct holding is 2,000 shares.JAMES MADISON LTD.

Richard A. Kirstein, a director of Washington-based James Madison Ltd., bought 10,000 class A common shares Aug. 23 at $2.75 each. His direct class A holding is 33,840 shares. Ralph J. Tyser, also a director, bought 20,000 class A shares at $2.50 each Aug. 21 and now owns 49,449 class A shares directly.JAMES RIVER CORP.

James River Corp. SPP, a beneficial owner of James River Corp. of Richmond, disposed of 375,150 common shares and acquired 4,814 common shares Aug. 27 through Aug. 31 at unreported prices and bought 268,316 shares Aug. 10 through Aug. 29 at $22.78 to $23.75 per share. The plan presently controls 9,452,652 shares directly.MALLARD COACH CO.

James P. Kerich, chairman of Mallard Coach Co. of Glen Allen, Va., bought 5,000 common shares at $3.25 each Aug. 22 and now owns 40,000 shares directly.

Gerald K. Pilmore, an officer, bought 2,000 common shares Aug. 16, also at $3.25 each. His direct holding is 2,000 shares.MARRIOTT CORP.

William J. Shaw, a vice president of Bethesda-based Marriott Corp., exercised options to buy 5,000 common shares Aug. 27 at $5.74 each. Shaw owns 52,455 shares directly and 2,128 shares indirectly.MCI COMMUNICATIONS CORP.

John R. Worthington, an officer and director of MCI Communications Corp. of Washington, sold 16,000 common shares Aug. 3 through Aug. 5 at $35.54 to $36.12 each. He currently holds 121,300 shares directly and 83,000 shares indirectly.PERPETUAL FINANCIAL CORP.

Jean H. Sisco, a director of Vienna-based Perpetual Financial Corp., bought 30,000 common shares at $1.50 each Sept. 5. His direct holding is 56,664 shares.

William G. Thomas, also a director, bought 100,000 common shares Aug. 21 through Aug. 22 at $1.56 each. He owns 212,000 shares directly and 10,000 shares indirectly.ROUSE CO.

Michael W. Jecko, a vice president of the Rouse Co. of Columbia, Md., sold 1,400 common shares at $17.50 each Aug. 31 and now holds 78 shares directly.RYLAND GROUP INC.

John H. Mullin III, a director of Ryland Group Inc. of Columbia, Md., bought 8,000 common shares at $12.25 to $12.50 each Aug. 14. He currently owns 8,000 shares directly and 5,000 shares indirectly.SMITHFIELD COS. INC.

James L. Cresimore, chairman of Smithfield Cos. Inc. of Portsmouth, Va., bought 7,200 common shares at an undisclosed prices Aug. 8 through Aug. 24. He now owns 248,618 shares directly and 3,500 shares indirectly. VERSAR INC.

Robert P. Ouellette, a vice president of Versar Inc. of Springfield, sold 8,600 common shares Aug. 9 at $2.88 to $3.13 each and presently controls 10,190 shares directly.