In a recent filing with the Securities and Exchange Commission, Paul D. Bay, Chief Executive Officer of Ingram Micro Holding Corp (NASDAQ:INGM), reported a significant acquisition of company stock. On October 25, Bay purchased 45,500 shares at $22 per share, totaling $1,001,000. This transaction was part of a reserved share program associated with Ingram Micro's initial public offering.
Additionally, on October 23, Bay was granted 353,349 restricted stock units (RSUs), which vest over a period of time or upon achieving specific milestones. On October 24, 212,009 of these RSUs vested, and shares were withheld to cover tax obligations, amounting to $2,365,748. These transactions reflect Bay's continued investment in the company, as he now holds 455,000 shares indirectly through the P/R Family Trust.
InvestingPro Insights
Paul D. Bay's recent stock acquisition and RSU grant align with Ingram Micro's (NASDAQ:INGM) dynamic market performance. According to InvestingPro data, the company has shown a significant return of 14.42% over the past week and month, indicating strong short-term momentum. This positive trend could be seen as a vote of confidence in the company's direction under Bay's leadership.
InvestingPro Tips reveal that Ingram Micro generally trades with high price volatility, which may explain the substantial recent gains. However, investors should note that the company suffers from weak gross profit margins, suggesting potential challenges in maintaining profitability.
It's worth noting that Ingram Micro does not pay a dividend to shareholders, focusing instead on growth and reinvestment. This strategy aligns with the company's recent IPO and Bay's significant stock acquisition.
For those interested in a deeper analysis, InvestingPro offers 5 additional tips that could provide valuable insights into Ingram Micro's financial health and market position. These additional tips could be particularly useful for investors looking to understand the implications of insider transactions like Bay's recent stock purchase.
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