Form 4: Ingram Micro Executive VP Scott Sherman Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Executive VP of Human Resources at Ingram Micro, Scott Sherman, reports acquisition and disposal of common stock and restricted stock units.
Summary
- Scott Sherman, Executive VP of Human Resources at Ingram Micro, filed a Form 4 detailing changes in beneficial ownership.
- On October 23, 2024, Sherman received a grant of 191,344 restricted stock units (RSUs), with 114,806 vesting the following day.
- The remaining RSUs vest in three equal annual installments starting October 23, 2025, and ending October 23, 2027, or upon achieving specific milestones.
- 58,216 shares were withheld on October 24, 2024, to cover tax obligations related to the vesting of RSUs at a price of $22.
- Sherman also purchased 9,100 shares of common stock on October 25, 2024, at $22 per share through a reserved share program related to the company's IPO.
- As of the latest transactions, Sherman directly owns 207,021 shares of Ingram Micro common stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing primarily reports routine transactions related to executive compensation and stock ownership. The purchase of shares is a slightly positive sign.
Positives
- The acquisition of shares through the reserved share program indicates confidence in the company's future.
Negatives
- The withholding of shares to cover tax obligations reduces the overall increase in beneficial ownership.
Risks
- The lock-up agreement restricts Sherman from selling the shares for 180 days following October 23, 2024, potentially limiting his ability to respond to market changes.
Future Outlook
The remaining RSUs will vest in three equal annual installments, beginning on 10/23/2025 and ending on 10/23/2027, or, if earlier, upon the achievement of specified milestones as set forth in the applicable award agreement.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive stock ownership.
- Employees may be interested in the details of the RSU vesting schedule.
Key Dates
| Date | Description |
|---|---|
| 10/23/2024 | Effective date of lock-up agreement and grant of 191,344 restricted stock units. |
| 10/24/2024 | 114,806 restricted stock units vested and 58,216 shares withheld for tax obligations. |
| 10/25/2024 | Purchase of 9,100 shares of common stock through reserved share program. |
| 10/23/2025 | First of three equal annual installments for remaining RSU vesting. |
| 10/23/2027 | Final of three equal annual installments for remaining RSU vesting. |
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