Miller Michael Thomas 4

What Happened
Michael T. Miller, Executive Vice President, Chief Financial Officer and Director of Installed Building Products, made multiple open‑market purchases on May 11, 2026, acquiring a total of 2,400 shares at prices that ranged roughly from $203.57 to $217.91 per share. The aggregate cost of these buys was about $498,771. These were purchases (code P), which are direct insider buys rather than option exercises or gifts.

Key Details

• Transaction date: May 11, 2026; Form 4 filed May 12, 2026 (next day — timely).
• Total shares purchased: 2,400; total value: ~$498,771.
• Price range across trades: approximately $203.57 to $217.91 per share. Several line items use weighted average prices and list narrower sub‑ranges (see F1–F13). The filer offers to provide per‑trade price breakdowns to the SEC or issuer on request.
• Transaction type: Open‑market purchases (Reporting code P).
• Shares owned after transaction: Not stated in the provided filing details.
• Notable footnote on holdings (F14): Some shares are held in a trust of which Mr. Miller is sole trustee and sole beneficiary and for which he exercises sole voting and investment power.

Context

• Insider purchases are often watched by investors as a potential signal of confidence, but they are one data point and do not prove future performance. These were straightforward open‑market buys (not option exercises or gifting).
• The filing appears timely (filed the day after the trades). For further precision on how many shares traded at each exact price, the footnotes indicate the reporter can supply a per‑trade breakdown if requested.