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ORANGE COUNTY BRIEFLY

Ingram Chief Exercised $15.9 Million in Options

April 13, 1999|Jonathan Gaw

Ingram Micro Inc. Chairman and Chief Executive Jerre Stead realized a $15.9-million gain from exercising stock options last year.

After exercising options to buy 1 million Ingram shares in December, Stead still has 2.8 million exercisable and unexercisable shares, the company said in its annual proxy statement filed Monday with the Securities and Exchange Commission. Stead's stake in Ingram was $58.6 million based on Monday's closing stock price of $20.94.

When Stead took the helm of the Santa Ana wholesale distributor of personal computers, he agreed to a contract that granted him stock options and no salary or bonus.

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