Form 4: CDW CFO Reports RSU-Related Stock Transactions

CDW's Chief Financial Officer, Albert Joseph Miralles Jr., reported the acquisition of shares from dividend equivalents and the disposition of shares for tax withholding related to restricted stock units.

Summary

• Albert Joseph Miralles Jr., CDW's Chief Financial Officer and Executive Vice President, Enterprise Business Operations, reported two transactions involving CDW Common Stock.
• On March 10, 2026, he acquired 133.8 shares of Common Stock at a price of $0. These shares were dividend equivalents awarded pursuant to outstanding restricted stock unit awards under the CDW Corporation 2021 Long-Term Incentive Plan.
• On March 12, 2026, he disposed of 2,036.19 shares of Common Stock at a price of $118.91 per share. This disposition represented shares withheld to cover taxes incurred in connection with the settlement of a restricted stock unit award under the CDW Corporation Long-Term Incentive Plan.
• Following these reported transactions, Miralles beneficially owns 47,228.52 shares of CDW Common Stock.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive filing. While there's a net reduction in shares due to tax withholding, the underlying RSU vesting and dividend equivalent acquisition are standard compensation events, indicating continued executive alignment with shareholder interests through equity ownership.

Positives

• The acquisition of 133.8 shares through dividend equivalents demonstrates the executive's continued accumulation of equity through existing compensation plans, aligning interests with shareholders.

Negatives

• The disposition of 2,036.19 shares, while for tax purposes, results in a reduction of the executive's direct beneficial ownership.

Industry Context

StockSavvy.ai notes that these transactions are routine for executives receiving equity compensation. The disposition for tax withholding is a common practice when restricted stock units vest, and the acquisition of dividend equivalents reflects the ongoing benefits of holding such awards. These types of filings provide transparency into insider holdings but typically do not signal significant strategic shifts or market-moving events unless they involve large, discretionary open-market purchases or sales.

Related Party Transactions

• The reported transactions are related party transactions as they involve an executive of CDW Corp and the company's equity compensation plans.

Stakeholder Impact

• Shareholders: Provides transparency into executive equity holdings and compensation practices. The net reduction in shares due to tax withholding is a routine event and not indicative of a lack of confidence.
• Employees: Reflects standard equity compensation practices for executives, which can be a benchmark for broader employee incentive programs.

Key Dates

Recommendation

The transactions reported are routine equity compensation events for a corporate officer, involving the acquisition of dividend equivalents and the disposition of shares for tax withholding upon RSU settlement. These are not discretionary open-market trades that would typically signal a change in management's outlook or warrant a change in investment recommendation. The filing provides transparency but does not present new information that would alter the fundamental investment thesis for CDW.

Keywords

CDW, Form 4, Insider Transaction, Restricted Stock Units, Equity Compensation, CFO, Tax Withholding, Dividend Equivalents