In the latest wrapup of financial news and filings from N.C. tech related companies:
- CommScope chief operating officer Crenshaw to retire
HICKORY – The chief operating officer of communication infrastructure company CommScope Holding Co. plans to retire at the end of the year, according to a Securities and Exchange Commission filing Friday.
Randall Crenshaw, 58, has been chief operating officer of the Hickory-based company since 2011. According to the filing, he will retire on Dec. 31.
Crenshaw previously served CommScope as chief supply officer since late 2009 and previously was executive vice president and general manager of CommScope Enterprise Solutions. He’s been with the company since 1985.
As chief operating officer, he oversaw CommScope’s supply chain, manufacturing, quality, product development and management, and business unit functions.
Last month, the company reported fourth-quarter net income of $54 million, or 28 cents per diluted share. The company reported a net loss of $75 million, or a loss of 39 cents per share, in the fourth quarter of 2015.
Adjusted for one-time gains and losses, the earnings were 61 cents per share. Wall Street expected earnings of 57 cents per share.
CommScope’s shares fell 14 cents to $39.64 in Friday trading.
- LendingTree CEO Ledba has sold $1.4 million of stock in March
CHARLOTTE — Douglas Ledba, the founder and chief executive officer of Charlotte-based LendingTree, sold 4,000 shares this week worth over $485,000, according to a filing with the Securities and Exchange Commission. [lendingtree]
In the past three weeks, Ledba has sold 12,000 shares worth over $1.4 million. The shares were sold on March 2, March 9 and March 17 for $120, $117 and $121 per share, respectively.
Ledba still has direct ownership of 660,896 shares worth about $79 million.
Through a family trust, spousal ownership and Lebda Family Holdings LLC, he has indirect ownership of another 1,049,140 shares worth as much as $125 million.
Over the past few months Ledba has been selling common stock and has made at least nine transactions in 2017 in which he has sold 4,000 shares, with prices ranging from $105 to $120 per share.
So far in 2017, the CEO has sold LendingTree stock worth almost $4 million.
Lebda has been CEO at LendingTree since 2007. He founded the company in 1996 after experiencing difficulty finding a competitive loan for his first house.
At the time he worked for PricewaterhouseCoopers in Pittsburgh and reasoned that if he was having trouble then there was a market for a simpler process among average consumers.
LendingTree is a lending broker that helps individuals and businesses easily compare loan rates between banks, eliminating the need to “shop around” for the best rate.
Ledba is also co-founder of Tycoon, a financial education app that teaches children how to successfully manage money.
LendingTree’s stock price has increased almost 25 percent since the beginning of the year and closed Friday at $124.
- Albemarle CEO Kissam saw 60 percent increase in total compensation in 2016
CHARLOTTE, N.C. — The chief executive officer of chemical manufacturer and marketer Albemarle Corp. received a 60 percent increase in total compensation in 2016, according to the company’s proxy statement filed Friday with the Securities and Exchange Commission.
Luther C. Kissam received $8.4 million in total compensation last year, up 60.3 percent from his $5.3 million in total compensation in 2015. However, the amount is still below the $10.3 million in total compensation he received in 2014.
Kissam’s base salary rose 5 percent to $871,500 in 2016 compared to a base salary of $830,000 in 2014. And his stock awards rose 56 percent to $3.7 million from $2.4 million in 2015.
Kissam also received $1 million in stock options and $1.7 million in nonequity incentive plan compensation.
Scott A. Tozier, the company’s chief financial officer and executive vice president, saw his total compensation increase 32.7 percent to $2.5 million in 2016 from $1.9 million in 2015, according to the filing.
Albemarle’s rose rose $2.26, or 2.2 percent, to $106.27 in Friday afternoon trading.
Headquartered in Charlotte, Albemarle is a specialty chemicals company across different markets, such as the petroleum refining, construction and automotive industries.
Albemarle employs about 6,900 people and serves customers in approximately 100 countries.
Source: North Carolina Business News Wire