Form 4: PC Connection Inc. Executive Patricia Gallup Receives Shares from Trust Distribution

Patricia Gallup, Chairman & Chief Admin Officer of PC Connection Inc., received shares from a trust distribution and now indirectly and directly owns a significant amount of the company's common stock.

Summary

• Patricia Gallup, Chairman & Chief Admin Officer of PC Connection Inc. (CNXN), reported changes in beneficial ownership of the company's common stock.
• On May 8, 2024, Ms. Gallup received 1,838,745 shares of CNXN common stock as an annuity payment from the Comack Trust.
• The Comack Trust also distributed its remaining 621,307 shares to a spillover trust and then expired.
• Ms. Gallup serves as executor for the Estate of David McLellan Hall, which directly holds 162,093 shares.
• She is also the beneficiary of trusts that will receive these shares.
• Ms. Gallup disclaims beneficial ownership of 15,133 shares held by her spouse and 275,000 shares held by the North Branch Trust, except to the extent of her pecuniary interest.
• After these transactions, Ms. Gallup directly owns 6,443,595 shares and indirectly owns 6,879,962 shares through the David Hall Trust 2003.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing. It doesn't convey any positive or negative sentiment about the company's performance or prospects.

Industry Context

This filing is a routine disclosure related to changes in beneficial ownership by a company insider. It doesn't necessarily reflect a change in the company's performance or outlook but provides transparency into the holdings of key personnel.

Stakeholder Impact

• Shareholders are informed about changes in ownership by a key executive.
• The filing provides transparency regarding the holdings of Patricia Gallup.

Key Dates