logo
Plus   Neg
Share
Email

IBM CEO Ginni Rometty Buys $3 Mln In Company Stock

IBM CEO Ginni Rometty has bought $3 million worth of the company shares, according to an SEC filing on Monday.

The stock purchases come just one week after IBM announced the $33 billion proposed acquisition of software distributor Red Hat Inc.

Rometty bought about $1 million shares in the open market and $2 million through an IBM retirement fund. Rometty now holds more than 314,000 shares of the company, which is valued at about $36 million at Monday's opening price.

Four board members and several other senior IBM executives also purchased the company's stock, according to a regulatory filings.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Swiss engineering major ABB Ltd. teamed with Italian utility Evolvere to launch a blockchain pilot project to explore transparent, secure peer-to-peer solar energy transactions, media outlet PV Tech reported. The companies will test the potential of blockchain technology in solar systems. The blockchain technology was developed in partnership with Prosume. Shares of Tesla Inc. are losing more than 5 percent in Monday's trading after Wedbush Securities analyst Daniel Ives slashed his price target on the luxury electric car maker's stock, citing "major concerns" around the trajectory of Tesla's growth prospects. In a note to investors, Ives also said he has concerns over underlying demand for Model 3 cars in the U.S. over the coming quarters. Amazon Inc. is leading a new $575 million investment in British food delivery company Deliveroo, intensifying the e-commerce giant's competition with rival Uber and its Uber Eats service. Deliveroo noted that Amazon is set to be the largest investor in the Series G preferred shared funding round. With the latest funding round, Deliveroo has raised $1.53 billion.
Follow RTT