Miller Michael Thomas 4

What Happened

• Michael Thomas Miller, Executive Vice President, Chief Financial Officer and director of Installed Building Products (IBP), made multiple open‑market purchases on June 11, 2026 totaling 990 shares for aggregate consideration of $198,610 (approx. $200.62 per share on average). Trades were reported on Form 4 as purchases (code P) across several price points and lots.

Key Details

• Transaction date: 2026-06-11 (filed 2026-06-15 — appears filed late vs. the usual 2‑business‑day Form 4 rule).
• Lots/prices: 10 purchase lines (65 @ $195.89; 278 @ $196.95; 145 @ $197.55; 14 @ $198.79; 1 @ $200.03; 133 @ $201.91; 99 @ $202.73; 20 @ $204.32; 80 @ $205.52; 155 @ $206.74). Per filing footnotes, the underlying trade prices on those lines ranged roughly $195.27 to $207.04 and the per‑line prices are weighted averages.
• Total: 990 shares, ~$198,610 total.
• Shares owned after transaction: not specified in the filing.
• Notable footnotes: F1–F9 explain that many lines reflect weighted averages across multiple trades; F10 indicates certain shares are held in a trust of which Mr. Miller is sole trustee and sole beneficiary and over which he has sole voting and investment power.

Context

• These were outright open‑market purchases (code P). Purchases by officers are often watched by investors as a more bullish signal than routine sales, but filings do not state motive. The filing appears to have been submitted four days after the trades, which is later than the typical 2‑business‑day Form 4 deadline.