Form 4: CDW Corp Executive Peter R. Locy Reports Acquisition of Common Stock Through Dividend Equivalents

Peter R. Locy, a Vice President, Controller, and Chief Accounting Officer at CDW Corp, reported the acquisition of 1.76 shares of common stock due to dividend equivalents awarded under the company's Long-Term Incentive Plan.

Summary

• On June 11, 2024, Peter R. Locy, a Vice President, Controller, and Chief Accounting Officer at CDW Corp, acquired 1.76 shares of CDW common stock.
• The acquisition was a result of dividend equivalents awarded pursuant to outstanding restricted stock unit awards previously granted under the CDW Corporation Long-Term Incentive Plan.
• Following the transaction, Locy directly owns 1,597.29 shares of CDW common stock.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation, indicating a stable and ongoing operation of the company's incentive plans. There are no red flags or negative implications.

Positives

• The acquisition of shares through dividend equivalents indicates the continued operation of CDW's Long-Term Incentive Plan, which can be seen as a positive for employee compensation and retention.

Industry Context

Executive compensation through stock and dividend equivalents is a common practice in publicly traded companies to align management's interests with those of shareholders.

Comparison to Industry Standards

• Many technology companies, such as IBM, Accenture, and HP Enterprise, use similar long-term incentive plans that include restricted stock units and dividend equivalents to incentivize their executives.
• The amount of shares acquired through dividend equivalents is relatively small, suggesting a standard practice rather than a significant event compared to overall executive compensation packages in similar firms.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning executive interests with dividend payouts.

Key Dates