Form 4: CDW Corp Executive Peter R. Locy Reports Changes in Beneficial Ownership

Peter R. Locy, a Vice President, Controller, and Chief Accounting Officer at CDW Corp, reported changes in beneficial ownership of company stock due to tax withholding and a grant of restricted stock units.

Summary

• On May 20, 2024, Peter R. Locy, a Vice President, Controller, and Chief Accounting Officer at CDW Corp, reported changes in his beneficial ownership of CDW Corp stock.
• 512 shares of common stock were disposed of to cover taxes incurred in connection with the settlement of a restricted stock unit award at a price of $223.64 per share.
• Locy was also granted 329 restricted stock units under the CDW Corporation Long-Term Incentive Plan.
• These restricted stock units vest on May 20, 2028.
• Following these transactions, Locy beneficially owns 1,595.53 shares of CDW Corp common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The transactions are routine and reflect standard executive compensation practices. The grant of restricted stock units indicates confidence in the company's future performance.

Positives

• The grant of restricted stock units aligns Locy's interests with the long-term performance of CDW Corp.

Future Outlook

The vesting of restricted stock units in 2028 suggests a long-term incentive for the reporting person.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices through restricted stock units.

Comparison to Industry Standards

• Restricted stock units are a common form of executive compensation in the technology and IT services industry, aligning management's interests with shareholder value.
• Companies like Accenture, IBM, and HP also utilize similar equity-based compensation plans for their executives.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders.
• The equity-based compensation aligns management's interests with those of shareholders.

Key Dates