Form 4: CDW Executive Locy Reports Routine Share Transactions

CDW's Senior Vice President, Controller, and Chief Accounting Officer, Peter R. Locy, reported the acquisition of dividend equivalents and the disposal of shares for tax purposes.

Summary

• Peter R. Locy, Senior Vice President, Controller, and Chief Accounting Officer of CDW Corp, reported two transactions involving the company's common stock.
• On March 10, 2026, Locy acquired 10.54 shares of CDW Common Stock as dividend equivalents, awarded pursuant to outstanding restricted stock unit awards under the CDW Corporation 2021 Long-Term Incentive Plan.
• On March 12, 2026, Locy disposed of 112.07 shares of CDW Common Stock at a price of $118.91 per share.
• These disposed shares were withheld to cover taxes incurred in connection with the settlement of a restricted stock unit award previously granted under the CDW Corporation Long-Term Incentive Plan.
• Following these transactions, Locy directly beneficially owns 3,951.99 shares of CDW Common Stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, representing routine insider transactions related to executive compensation and tax obligations, with no significant positive or negative implications for the company's operational or financial performance.

Positives

• Acquisition of 10.54 shares as dividend equivalents, indicating ongoing participation in the company's long-term incentive plan and receipt of dividends.

Negatives

• Disposal of 112.07 shares to cover tax liabilities, which reduces the direct beneficial ownership of the reporting person.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that insider transaction reports like this Form 4 are routine disclosures for executives receiving equity compensation. The withholding of shares for tax purposes is a common practice upon the vesting or settlement of restricted stock units across various industries, reflecting standard compensation and tax management procedures rather than a specific industry trend.

Comparison to Industry Standards

• StockSavvy.ai observes that the reported transactions, specifically the acquisition of dividend equivalents and the withholding of shares for tax purposes upon RSU settlement, align with standard equity compensation practices seen in publicly traded companies across the technology and IT services sector, such as Insight Enterprises (NSIT) or ePlus inc. (PLUS).
• These are typical mechanisms for executives to realize value from their equity awards while fulfilling tax obligations, and do not indicate any deviation from common industry benchmarks for executive compensation structures.

Related Party Transactions

• The transactions involve Peter R. Locy, a Senior Vice President, Controller, and Chief Accounting Officer of CDW Corp, acquiring dividend equivalents and disposing of shares for tax purposes related to his equity compensation from the company.

Stakeholder Impact

• Shareholders: Minimal direct impact as these are routine insider compensation-related transactions. The slight reduction in direct beneficial ownership due to tax withholding is a standard practice.
• Employees: No direct impact.
• Management: The transactions reflect the standard operation of the company's long-term incentive plan for executives.

Key Dates

Recommendation

The filing details routine insider transactions related to executive compensation and tax obligations. It does not provide new information regarding the company's operational performance, financial health, or strategic direction that would warrant a change in investment recommendation. Therefore, a 'hold' recommendation is appropriate, maintaining current positions based on broader company fundamentals rather than these specific insider disclosures.

Keywords

CDW, Peter R. Locy, Form 4, Insider Trading, Stock Transaction, Restricted Stock Units, Dividend Equivalents, Tax Withholding, Corporate Officer, CDW Corp