The sale by CEO Eli Glickman was at a price substantially below that at which Hapag-Lloyd and FIMI are supposed to buy the company.
Last week, ZIM Integrated Shipping Services (NYSE: ZIM) CEO Eli Glickman sold shares in the company to the tune of $39.5 million, according to reports filed with the US Securities and Exchange Commission (SEC). According to the filings, Glickman sold the shares, which he received through the exercise of options allocated to him in previous years, in two lots in the course of the week. Besides Glickman, there were additional filings concerning sales of shares by other senior managers at the company, in lower amounts.
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Glickman led a bid to buy ZIM together with shipping magnate Rami Ungar, but the ZIM board rejected their offer, preferring a bid by German shipping company Hapag-Lloyd together with private equity firm FIMI. Zim was sold for $4.2 billion, or $35 per share, but the share price is currently 23% below that level because of doubts over whether the deal will be completed. The sale by Glickman and the other managers at a price substantially below the deal price may indicate that they too are skeptical about completion.
Glickman, 64, has been CEO of ZIM since 2017. According to the company’s latest full SEC filings he held a 1.3% stake in the company. The State of Israel holds a special share in ZIM (“the golden share”), and completion of the acquisition deal requires approval from the state.
Published by Globes, Israel business news – en.globes.co.il – on March 15, 2026.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.
Eli Glickman credit: ZIM
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