First Executive Considers Sale: Los Angeles-based First...

First Executive Considers Sale: Los Angeles-based First Executive Corp. told the Securities and Exchange Commission that its board will call a special meeting to discuss releasing ICH Corp., its largest shareholder with 20% of the insurer’s common stock, from a so-called standstill agreement. Rosewood Financial Corp. of Dallas is negotiating a sale of ICH’s stock with the two companies. Under the agreement, First Executive must approve the sale. Rosewood now holds a 9.9% stake in the insurer, but has filed for regulatory approval to buy up to 49.9% of First Executive’s outstanding common stock. No meeting date was set.