Five officers and directors of Vera Bradley Inc. have filed stock-selling plans with the Securities and Exchange Commission.
The plans, which follow SEC insider trading rules, allow them to sell shares within specified price limits while avoiding the appearance that stock was sold while the owner had inside information about the company’s performance.
About 3 million shares could be sold, according to paperwork filed Thursday. They include 2.52 million owned by company co-founder Patricia Miller and a trust under the direction of Michael Miller, her husband. The stock could be sold anytime before the end of the year.
Jill Nichols, executive vice president, plans to sell up to 400,000 shares. Roddy Mann, executive vice president, plans to sell up to 60,000 shares owned by a trust of which he is the sole trustee. And David Thompson, vice president, plans to sell up to 14,400 shares. Each specified different windows for the transactions.
Vera Bradley’s stock gained 1 cent to close Thursday at $37.15 a share on the Nasdaq stock exchange. The Fort Wayne-based maker of quilted cotton handbags, luggage and accessories sold 12.65 million shares in its initial public offering in October.
North-end Target enhances grocery
Target Corp. is in the midst of expanding its grocery section at a second location in Fort Wayne.
Officials for the Minneapolis-based retailer did not return phone calls Thursday. A store employee confirmed the estimated $2 million renovation at 3801 Coldwater Road is expected to be completed by late March. Storage trailers tied to the expanding product line are stationed in the parking lot. Like the southwest-side store, 1102 S. Thomas Road, the outlet will gain a bigger grocery footprint, including fruits, vegetables, meats, eggs and other items.
The Thomas Road store launched its grocery section in October. It utilized existing space and did not grow in size and the same will hold true at the Coldwater store, which spans 127,000 square feet.
Navistar opens new Illinois HQ
Engine- and vehicle-maker Navistar International Corp. has officially opened its new headquarters in suburban Chicago. The company said Thursday that more than 3,000 people will work at the location in Lisle.
Navistar began moving employees into the campus last year as it moved its headquarters from Warrenville to Lisle.
The state of Illinois provided the company about $65 million in tax breaks after it agreed to keep its headquarters in Illinois rather than move it to potential sites in Alabama, Texas or South Carolina.
Navistar also consolidated at the Lisle campus some jobs that had been in Fort Wayne.
The 87-acre location was used by Alcatel-Lucent but sat vacant for some time before Navistar began moving in last year.
NYSE merger deal with Deutsche a bust
NYSE Euronext says $10 billion combination with Deutsche Boerse is off after the EU blocked deal, citing concerns about a potential monopoly.
The EU’s executive body said the company would have taken control of more than 90 percent of the trading in European derivatives – very profitable financial products that allow investors to bet on changes in interest rates or the price of oil.
