Carolyn Hornstein, the Senior Vice President, Controller, and Chief Accounting Officer at Ingram Micro Holding Corp (NYSE:INGM), made significant transactions involving the company's stock recently, according to a Form 4 filing with the Securities and Exchange Commission.
On October 25, Hornstein purchased 10,000 shares of Ingram Micro common stock at $22 per share, amounting to a total purchase of $220,000. This acquisition was made as part of a reserved share program linked to the company's initial public offering.
Additionally, on October 23, Hornstein received a grant of 19,049 restricted stock units (RSUs), which are subject to a lock-up agreement preventing their sale for 180 days from the grant date. These RSUs include 11,429 shares that vested on October 24, with the remainder set to vest in equal annual installments over the next three years, or earlier if specific milestones are achieved.
On October 24, Hornstein also had 4,081 shares withheld to cover tax obligations related to the vesting of RSUs. These shares were valued at $22 each, resulting in a total transaction value of $89,782.
Following these transactions, Hornstein holds a total of 24,968 shares of Ingram Micro common stock.
InvestingPro Insights
To complement the recent insider transactions at Ingram Micro Holding Corp (NYSE:INGM), let's examine some key financial metrics and insights from InvestingPro.
According to InvestingPro data, Ingram Micro has experienced a significant return of 14.42% over the past week and month, indicating strong recent market performance. This aligns with the timing of Carolyn Hornstein's stock purchase and RSU grant, potentially reflecting positive sentiment within the company.
An InvestingPro Tip notes that the stock generally trades with high price volatility. This characteristic could be particularly relevant for investors considering the recent insider activity, as it may present both opportunities and risks in the short term.
Another InvestingPro Tip highlights that Ingram Micro suffers from weak gross profit margins. This insight could provide context for the company's financial health and may be a factor for investors to consider alongside the insider transactions.
It's worth noting that Ingram Micro does not pay a dividend to shareholders, as pointed out by an additional InvestingPro Tip. This information may be pertinent for income-focused investors analyzing the stock.
The average daily trading volume for Ingram Micro over the past three months stands at 7.75 million USD, suggesting relatively robust liquidity in the stock.
For readers interested in a more comprehensive analysis, InvestingPro offers additional tips and metrics beyond those mentioned here. In fact, there are several more InvestingPro Tips available for Ingram Micro, providing a deeper understanding of the company's financial position and market performance.
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