2 Birtcher Officials Increase Holdings
Two executives of Birtcher Corp. have increased their stakes in the El Monte, Calif.-based maker of electromedical products to the equivalent of 429,658 common shares or 18.7%, according to a filing with the Securities and Exchange Commission.
William Maya, Birtcher’s president, and Chief Executive Ronald McAdams said they bought 70,000 series A convertible preferred shares for $350,000 as outlined in the company’s 1987 preferred stock purchase plan, and 13,000 common shares for $33,437.50.
For the record:
12:00 a.m. May 14, 1988 FOR THE RECORD
Los Angeles Times Saturday May 14, 1988 Home Edition Business Part 4 Page 2 Column 5 Financial Desk 2 inches; 37 words Type of Material: Correction
Ronald McAdams, chief executive of Birtcher Corp., would control 186,325 common shares, or 8.2% of the company’s stock, if he converted the preferred shares he owns. In most Friday editions, it was incorrectly stated that Birtcher would control those shares.
If the preferred shares were converted into common shares, Birtcher would control 186,325 common shares or 8.2% and Maya would control 243,333 common shares or 10.5%.
