Form 4: PC Connection Inc. Executive Thomas C. Baker Reports Stock Transactions
SEC Form 4 Filing
Senior VP, CFO & Treasurer of PC Connection Inc., Thomas C. Baker, reports the vesting of 5,000 restricted stock units and the subsequent withholding of shares to cover tax obligations.
Summary
- Thomas C. Baker, Senior VP, CFO & Treasurer of PC Connection Inc., reported transactions involving the company's stock.
- On December 17, 2024, 5,000 restricted stock units vested, converting into 5,000 shares of common stock.
- Following the vesting, 1,968 shares were withheld to cover tax obligations at a price of $73.81 per share.
- After these transactions, Mr. Baker directly owns 35,662 shares of common stock and 5,000 restricted stock units.
Sentiment
Score: 7
Explanation: The document reflects standard executive compensation practices and does not indicate any unusual or concerning activity. It is a routine filing.
Future Outlook
The remaining 5,000 restricted stock units are scheduled to vest on December 17, 2025.
Industry Context
This is a routine SEC Form 4 filing, which is standard practice for corporate insiders reporting transactions in their company's stock. It provides transparency into executive compensation and ownership.
Comparison to Industry Standards
- The vesting schedule of restricted stock units is a common practice in executive compensation packages across various industries.
- The withholding of shares to cover tax obligations is also a standard procedure in stock-based compensation plans.
- Companies like CDW and Insight Enterprises also use similar stock-based compensation plans for their executives.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.
- The vesting of stock units is part of the executive's compensation package and is not expected to have a significant impact on the company's operations or financial position.
Key Dates
| Date | Description |
|---|---|
| 12/17/2021 | Restricted stock units were granted under the PC Connection, Inc. Amended and Restated 2020 Stock Incentive Plan. |
| 12/17/2024 | 5,000 restricted stock units vested and converted into common stock; 1,968 shares were withheld for tax obligations. |
| 12/17/2025 | 5,000 remaining restricted stock units are scheduled to vest. |
| 12/16/2031 | Expiration date of the restricted stock units. |
| 12/18/2024 | Date of signature for the SEC Form 4 filing. |
Keywords
stock, restricted stock units, vesting, insider trading, executive compensation, PC Connection Inc., CNXN, Thomas C. Baker
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