BELL JAMES A 4

What Happened James A. Bell, a director of CDW Corporation (CDW) and the Lead Independent Director for part of the grant, received a total of 2,011 restricted stock units (RSUs) on 2026-03-05: 1,609 RSUs (grant A) and 402 RSUs (grant A). The RSUs were granted at $0.00 per share (typical for awards), so the reported cash value at grant is $0; economic value will be realized when the RSUs convert to common stock. These awards vest on the first anniversary of the grant date, but settlement into CDW common stock is deferred until Mr. Bell separates from service on the Board.

Key Details

• Transaction date: 2026-03-05; Form 4 filed 2026-03-09 (appears timely).
• Grants: 1,609 RSUs + 402 RSUs = 2,011 RSUs; grant price reported $0.00 (award).
• Vesting/settlement: RSUs vest one year after grant; settlement into shares deferred until separation from the Board (Footnotes F1, F2). The 402 RSUs were granted for service as Lead Independent Director (F2).
• Shares owned after transaction: Not disclosed in the provided filing details.
• No sale or purchase reported—this is an award/grant (code A), not a market trade.

Context

• RSU grants are a common form of long-term compensation for directors; because settlement is deferred until he leaves the board, these units do not immediately increase tradable share holdings.
• Grants are neither a purchase (potential bullish signal) nor a sale (liquidation); they reflect standard compensation and alignment with shareholders rather than an immediate market action.