Insight Enterprises Appoints New CFO, Michael McGinn

Ticker: NSIT · Form: 8-K · Filed: Sep 4, 2024 · CIK: 932696

Sentiment: neutral

Topics: executive-appointment, cfo, compensation

TL;DR

Insight Enterprises names Michael McGinn new CFO, starting Sept 9th. Big stock grant incoming.

AI Summary

On September 3, 2024, Insight Enterprises, Inc. announced the appointment of Michael J. McGinn as Executive Vice President and Chief Financial Officer, effective September 9, 2024. McGinn will receive an annual base salary of $500,000 and will be eligible for a target annual bonus of 100% of his base salary. He will also receive a grant of restricted stock units with a target value of $3,000,000.

Why It Matters

The appointment of a new CFO is a significant leadership change that can impact the company's financial strategy and investor confidence.

Risk Assessment

Risk Level: medium — Changes in key executive positions, especially the CFO, can introduce uncertainty regarding future financial strategies and performance.

Key Numbers

Key Players & Entities

FAQ

What is Michael J. McGinn's new role at Insight Enterprises?

Michael J. McGinn has been appointed as Executive Vice President and Chief Financial Officer.

When does Michael J. McGinn's appointment become effective?

His appointment is effective September 9, 2024.

What is Michael J. McGinn's annual base salary?

His annual base salary is $500,000.

What is the target annual bonus for the new CFO?

The target annual bonus is 100% of his base salary.

What is the value of the restricted stock units granted to Michael J. McGinn?

He will receive a grant of restricted stock units with a target value of $3,000,000.

Filing Stats: 1,392 words · 6 min read · ~5 pages · Grade level 10.9 · Accepted 2024-09-03 21:04:34

Key Financial Figures

Filing Documents

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. The Company issued a press release on September 3, 2024 announcing the election of Ms. Foutty and Mr. Reichert and the appointment of Mr. Morgado. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information presented in Item 7.01 on this Current Report on Form 8-K and Exhibit 99.1 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, unless the Company specifically states that the information is to be considered "filed" under the Exchange Act or specifically incorporates it by reference into a filing under the Securities Act of 1933, as amended, or the Exchange Act.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Executive Employment Agreement Between Insight Enterprises, Inc. and James Morgado dated as of August 30, 2024 10.2 Executive Employment Agreement Between Insight Enterprises, Inc. and Glynis Bryan dated as of August 30, 2024 99.1 Press Release dated September 3, 2024 104 Cover Page Interactive Data File (formatted as Inline XBRL).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Insight Enterprises, Inc. Date: September 3, 2024 By: /s/ Rachael A. Crump Rachael A. Crump Chief Accounting Officer

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