In a recent series of transactions, Michael Zilis, Executive Vice President and CFO of Ingram Micro Holding Corp (NASDAQ:INGM), made notable stock purchases. On October 25, Zilis acquired 28,250 shares of Ingram Micro common stock at a price of $22 per share, amounting to a total purchase value of approximately $621,500. This acquisition was made through a reserved share program in connection with the company's initial public offering.
Additionally, on October 23, Zilis received a grant of 265,203 restricted stock units (RSUs), which are subject to a lock-up agreement preventing their sale for 180 days. Of these RSUs, 159,121 vested on October 24, with the remainder set to vest in equal installments over the next three years or upon the achievement of specific milestones.
Furthermore, Zilis had 80,796 shares withheld to cover tax obligations related to the vesting of RSUs, which does not represent a discretionary trade. These shares were valued at $22 each, totaling approximately $1,777,512.
These transactions provide insight into Zilis's recent activities with Ingram Micro stock, reflecting both acquisition and compliance with tax obligations.
InvestingPro Insights
To complement the recent stock transactions by Ingram Micro Holding Corp's CFO Michael Zilis, it's worth examining some key financial metrics and insights from InvestingPro.
According to InvestingPro data, Ingram Micro has demonstrated a significant return over the last week, with a 14.42% price total return. This short-term performance aligns with the timing of Zilis's stock purchases and RSU grants, potentially indicating positive market sentiment surrounding the company's recent IPO.
An InvestingPro Tip notes that Ingram Micro's stock generally trades with high price volatility. This characteristic could explain the company's decision to implement a lock-up agreement for the RSUs, as it may help stabilize the stock price in the months following the IPO.
Another relevant InvestingPro Tip highlights that Ingram Micro does not pay a dividend to shareholders. This information provides context for why executives like Zilis might prefer stock-based compensation, as it allows them to benefit from potential stock price appreciation.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and metrics beyond those mentioned here. The platform currently lists 5 more tips for Ingram Micro, providing a deeper understanding of the company's financial position and market performance.
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