Form 4: CDW Corp Director Anthony R. Foxx Reports Acquisition of Restricted Stock Units

Director Anthony R. Foxx reports acquisition of restricted stock units in CDW Corp under the Long-Term Incentive Plan.

Summary

• On March 6, 2024, Anthony R. Foxx, a director of CDW Corp, acquired 718 shares of common stock at $0.
• These shares were obtained through a grant of restricted stock units under the CDW Corporation Long-Term Incentive Plan.
• The restricted stock units vest on the first anniversary of the grant date.
• Settlement into shares of CDW Corporation common stock has been deferred until the sooner of separation from service on the Board of Directors or five years following vesting.
• Following the transaction, Foxx directly owns 3,844.67 shares of CDW Corp common stock.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating a stable and well-governed company. The sentiment is neutral to positive as it suggests alignment of interests between management and shareholders.

Positives

• The grant of restricted stock units aligns the director's interests with the long-term performance of the company.
• Deferred settlement of shares may encourage long-term commitment to the company.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting and settlement terms of the restricted stock units.

Industry Context

This filing is a routine disclosure related to executive compensation and is common among publicly traded companies. It reflects standard practices for incentivizing board members.

Comparison to Industry Standards

• Restricted stock units are a common form of executive compensation in the technology and IT services industry, aligning executive interests with shareholder value.
• Companies like Accenture, IBM, and HP Enterprise also utilize similar long-term incentive plans for their executives and directors.
• The vesting period and deferral of settlement are typical features designed to promote long-term commitment.

Stakeholder Impact

• Shareholders may view the grant of restricted stock units positively, as it aligns the director's interests with the company's long-term success.
• Employees may see this as a sign of stability and commitment from the board of directors.

Key Dates