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 local companies were compiled by States News service from reports to the Securities and Exchange Commission. AMERICAN MANAGEMENT SYSTEMS INC. Director Frank A. Nicolai of American Management Systems Inc. of Arlington exercised options to purchase 9,684 common shares at $3.30 per share Aug. 27. Nicolai currently holds 152,904 shares directly and 19,000 shares indirectly.BLACK & DECKER CORP. Director Hays T. Watkins of Black & Decker Corp. of Towson purchased 1,000 common shares at $10.52 each Oct. 25. Watkins currently holds 3,993 shares directly and 62 shares indirectly.BTU INTERNATIONAL INC. Paul J. Vanderwansem, chairman of BTU International Inc. of Rockville, gave gifts of 27,000 common shares Oct. 17. Vanderwansem controls 1,753,000 shares directly and 696 shares indirectly.FIDELITY BANCSHARES INC. Stanley M. Chernau, a shareholder of Fidelity Bancshares Inc. of Norfolk, sold 4,850 common shares Oct. 22 at $14.50 to $14.75 each, dropping his direct holding to 180 shares. FIRST VIRGINIA BANKS INC. Robert H. Zalokar, chairman of First Virginia Banks Inc. of Falls Church, purchased 1,000 common shares at $16.88 each Nov. 2. He owns 28,673 shares directly and 1,618 shares indirectly.
HARMAN INTERNATIONAL INDUSTRIES INC. Bernard A. Girod, a vice president of Harman International Industries Inc. of Washington, purchased 2,000 common shares at $6.75 each Nov. 7 to bring his direct holding to 5,700 shares.IIC INDUSTRIES INC. CP Holdings Ltd., a beneficial owner of IIC Industries Inc. of Rockville, purchased 12,000 common shares at $16.50 to $18 each Oct. 2 through Oct. 26. It currently holds 759,833 shares directly and 747,833 shares indirectly.
Directors Michael M. Wreschner, Bernard Schreier and Gideon Schreier each had transactions identical to CP Holdings's. Bernard Schreier and Gideon Schreier each hold 759,833 shares indirectly, while Wreschner holds 759,833 shares directly and 759,833 shares indirectly.INTELLIGENT ELECTRONICS INC. William G. Alvis, a vice president of Intelligent Electronics Inc. of Landover, purchased 10,000 common shares at $13 to $13.75 each Oct. 9. Alvis owns 30,000 shares directly.JAMES RIVER CORP. Sovran Bank N.A., a beneficial owner of James River Corp. of Richmond, disposed of 83,569 common shares at undisclosed prices Oct. 31, acquired 1,053 common shares, also at undisclosed prices, Oct. 25 and purchased 181,443 common shares at $19.30 to $19.88 each Oct. 9 through Oct. 29. Sovran Bank controls 8,472,303 shares directly and 9,649,730 shares indirectly.MALLARD COACH CO. Sangwoo Ahn, a director of Mallard Coach Co. of Glen Allen, Va., purchased 2,000 common shares at $2.25 each Oct. 25 through Nov. 1. Ahn now owns 42,000 shares directly and 1,119,372 shares indirectly.MID-ATLANTIC MEDICAL SERVICES INC. Several executives of Mid-Atlantic Medical Services Inc. of Rockville exercised options to purchase common shares at $1.25 each Oct. 16.
Mark D. Groban, an officer and director, purchased 20,000 shares and now owns 48,484 shares directly.
George T. Jochum, president, purchased 40,000 shares. He owns 299,890 shares directly and 600 shares indirectly.
Eric R. Baugh, an officer, purchased 8,000 shares, to bring his direct holding to 89,788 shares.
John L. Child Jr., a vice president, purchased 4,000 shares and now holds 134,200 shares directly and 4,346 shares indirectly.
Joseph S. Dufresne, an officer, acquired 4,000 shares. He holds 71,418 shares directly and 302 shares indirectly.
Steven B. Griffin, an officer, purchased 8,000 shares to bring his direct holding to 98,424 shares. PHH CORP.
Stephen A. Fragapane, a vice president of PHH Corp. of Hunt Valley, Md., purchased 4,800 common shares at $19.88 each Oct. 11. He now holds 10,000 shares directly and another 2,427 shares indirectly.