Tuesday, September 6, 2022
Information Services Group – 0b5-1 Plan for CEO Connors
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
10b5-1 Plan. On August 31, 2022, Michael P. Connors, Chairman and Chief Executive Officer of Information Services Group, Inc. entered into a written stock selling plan in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, to sell a limited number of shares of the Company’s common stock. Rule 10b5-1 provides guidelines for officers, directors and other insiders to prearrange sales of securities in a manner that avoids concerns about initiating stock transactions while in possession of material nonpublic information.
Details. The Plan allows for the sale of a maximum of 1,200,000 shares of the Company’s common stock, commencing on October 3, 2022 and continuing until all such shares are sold or March 15, 2023, whichever occurs first. According to the 8-k filing, Mr. Connors is currently the Company’s second largest shareholder, beneficially owning approximately 10.9% of the Company’s total outstanding common stock as of August 31, 2022. A Form 4 filed August 3rd, indicates Mr. Connors held nearly 5.7 million III shares.
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