Ingram Micro Holding Corp (NASDAQ:INGM) has reported recent stock transactions by Scott D. Sherman, the company's Executive Vice President of Human Resources. According to the SEC filing, Sherman made a purchase of 9,100 shares of common stock on October 25, valued at approximately $200,200, with each share priced at $22. This acquisition was part of a reserved share program associated with the company's initial public offering.
Additionally, on October 23, Sherman received a grant of 191,344 restricted stock units, which are subject to a lock-up agreement preventing their sale for 180 days. Of these units, 114,806 vested on October 24, with the remainder set to vest in equal annual installments over the next three years or upon achieving certain milestones.
On October 24, Sherman had 58,216 shares withheld to cover tax obligations related to the vesting of these restricted stock units, totaling $1,280,752, based on a share price of $22. This transaction was not a discretionary trade by Sherman, as noted in the filing.
InvestingPro Insights
Ingram Micro Holding Corp (NASDAQ:INGM) has recently seen significant insider activity, with Executive Vice President Scott D. Sherman making notable stock transactions. This activity comes amid a period of strong performance for the company's stock. According to InvestingPro data, INGM has experienced a substantial 14.42% return over the past week and month, indicating positive momentum in the market.
InvestingPro Tips highlight that INGM generally trades with high price volatility, which could explain the recent sharp uptick in stock price. This volatility may present opportunities for investors but also carries inherent risks. Another InvestingPro Tip notes that the company does not pay a dividend to shareholders, suggesting that INGM may be focusing on reinvesting profits for growth rather than distributing them to investors.
The average daily trading volume for INGM over the past three months stands at 7.75 million USD, reflecting significant investor interest in the stock. This liquidity could be advantageous for investors looking to enter or exit positions in the company.
It's worth noting that InvestingPro offers additional insights and tips for INGM, which could provide valuable context for investors analyzing the recent insider transactions and overall company performance. Subscribers to InvestingPro have access to a total of 5 tips for INGM, offering a more comprehensive view of the company's financial health and market position.
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