Form 4: CDW Corp Executive Christine Leahy Reports Stock and Option Grants

Christine Leahy, Chair, President, and CEO of CDW Corp, reports the acquisition of restricted stock units and stock options.

Summary

• Christine A. Leahy, Chair, President, and CEO of CDW Corporation, filed a Form 4 detailing changes in beneficial ownership.
• On March 6, 2024, Leahy acquired 7,282 shares of common stock with a value of $0, resulting in a total direct ownership of 100,961.68 shares.
• Leahy also indirectly owns 17,250 shares through the Christine A. Leahy Gift Trust.
• Additionally, Leahy was granted 23,444 employee stock options with an exercise price of $247.19, exercisable starting March 6, 2025, and expiring on March 6, 2034.
• These options also vest in one third increments on March 6, 2025, 2026, and 2027.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices, indicating a stable and well-governed company. The grants align executive interests with shareholder value, which is generally viewed positively.

Positives

• The grant of restricted stock units and stock options to the CEO aligns her interests with those of the shareholders, incentivizing long-term performance.
• The vesting schedule of the grants (one-third each year for three years) encourages continued service and commitment to the company.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedules of the stock and option grants.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The grants are part of CDW's long-term incentive plan, which is a common practice among publicly traded companies to align executive compensation with shareholder value.

Comparison to Industry Standards

• Stock option and restricted stock unit grants are standard compensation practices for executives in publicly traded companies like CDW Corp.
• Companies such as Insight Enterprises and SHI International, which are competitors of CDW Corp, also utilize similar long-term incentive plans for their executives.
• The vesting schedules (typically three to four years) and exercise prices are generally aligned with industry norms to retain key personnel and incentivize performance.

Stakeholder Impact

• Shareholders may view the grants positively as they align management's interests with long-term company performance.
• Employees may see the grants as a sign of the company's commitment to its leadership.

Key Dates