PC Connection (CNXN) 10% Owner Patricia Gallup Sells Shares

What Happened

• Patricia Gallup, a reported 10% owner of PC Connection, sold a total of 14,284 shares in open-market transactions on July 22–23, 2026 for aggregate proceeds of $1,147,122.
• Trade breakdown (reported as weighted-average prices):
  • 3,667 shares @ $79.28 = $290,720 (prices ranged $78.90–$79.80)
  • 1,990 shares @ $80.59 = $160,374 (prices ranged $80.00–$80.99)
  • 1,485 shares @ $81.21 = $120,597 (prices ranged $81.00–$81.57)
  • 6,575 shares @ $80.52 = $529,419 (prices ranged $80.07–$81.06)
  • 567 shares @ $81.15 = $46,012 (prices ranged $81.07–$81.25)
• These were sales (not purchases); sales are often routine or for personal/liquidity reasons and are not by themselves a clear signal of company outlook.

Key Details

• Transaction dates: July 22–23, 2026. Filing date: July 24, 2026 (no late filing indicated from the supplied info).
• Aggregate shares sold: 14,284; aggregate proceeds: $1,147,122.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Notable footnotes:
  • F1: Sales effected pursuant to a Rule 10b5-1 trading plan adopted by the David Hall Trust 2003 on March 9, 2026 (pre-planned trades).
  • F2–F7: Reported prices are weighted averages; each sale involved multiple transactions within the price ranges noted above.
  • F3, F9–F13: Many shares are held in various irrevocable or grantor retained annuity trusts (North Branch Trust, Comack Trust‑B, Abbott Brook Trust/B II, David Hall Trust 2003); Ms. Gallup serves as sole trustee for several trusts.
  • F8: The reporting person disclaims beneficial ownership except to the extent of pecuniary interest.
• Transaction type code: S = Sale.

Context

• These sales were made by a 10% owner and under a 10b5-1 plan, which typically indicates preplanned dispositions rather than ad hoc insider trading. For retail investors, purchases by insiders are often considered more informative than sales, which can be made for many non-fundamental reasons (liquidity, diversification, taxes, etc.).
• The filing shows weighted-average prices and ranges; the filer offers to provide transaction-level price details on request to the company, shareholders, or the SEC staff.