Ingram Micro to Alter Incentive Plan
Ingram Micro Inc., the No. 1 distributor of computers and parts, will change an employee incentive plan to win the backing of Fidelity Investments, which owns 4% of the Santa Ana company’s shares.
Fidelity said the plan didn’t meet its internal guidelines for approval because it lacked minimum restriction periods for non-stock-option and non-stock-appreciation right awards, Ingram Chairman and Chief Executive Kent Foster said in a letter to Fidelity that was filed with the Securities and Exchange Commission.
Fidelity also objects to an administrative committee’s being able to waive restriction periods, Foster said.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
