Form 4: PC Connection Inc. Director Jay Bothwick Reports Stock Transactions
SEC Form 4
Director Jay Bothwick reports the vesting and conversion of restricted stock units into common stock of PC Connection Inc.
Summary
- On June 30, 2024, Jay Bothwick, a director of PC Connection Inc. (CNXN), reported the vesting of 1,250 restricted stock units which converted into 1,250 shares of common stock.
- These units were granted on June 30, 2022, under the company's Amended and Restated 2020 Stock Incentive Plan.
- Following the transaction, Bothwick directly owns 2,500 shares of common stock.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions, with no inherent positive or negative implications.
Future Outlook
The remaining restricted stock units are scheduled to vest in two tranches of 1,250 shares each on June 30, 2025, and June 30, 2026.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the stock ownership of company directors.
Stakeholder Impact
- The vesting of restricted stock units may have a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| 06/30/2022 | Restricted stock units were granted under the PC Connection, Inc. Amended and Restated 2020 Stock Incentive Plan. |
| 06/30/2024 | 1,250 restricted stock units vested and converted into common stock. |
| 06/30/2025 | 1,250 shares of restricted stock units are scheduled to vest. |
| 06/30/2026 | 1,250 shares of restricted stock units are scheduled to vest. |
| 06/29/2032 | Expiration date of the restricted stock units. |
| 07/01/2024 | Date of signature for the Form 4 filing. |
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