GALLUP PATRICIA 4
Research Summary
AI-generated summary
PC Connection (CNXN) 10% Owner Patricia Gallup Converts 5,000 RSUs
What Happened
- Patricia Gallup (reported as a 10% owner) had 5,000 restricted stock units (RSUs) vest and convert into 5,000 shares of PC Connection, Inc. common stock on March 14, 2026. The Form 4 records an acquisition of 5,000 shares at $0.00 and a corresponding disposition of 5,000 derivative units at $0.00 — meaning the derivative interest (the RSUs) was settled in stock and no purchase price was paid.
Key Details
- Transaction date: March 14, 2026; Form 4 filed March 16, 2026 (timely filing).
- Reported transactions: 5,000 shares acquired via conversion/exercise of derivative (code M) at $0.00; 5,000 derivative units disposed at $0.00.
- Shares owned after transaction: not specified in the filing.
- Relevant footnotes: see below for RSU description, vesting schedule, and trust ownership details.
- No cash proceeds or open-market sale reported in this filing.
Context
- These were RSU vesting/conversion events (not an open-market buy or sale). Such conversions are routine settlement of awards and do not by themselves signal a buy or sell decision.
- Footnotes indicate the RSUs were granted under the 2020 Stock Incentive Plan; 5,000 vested on 3/14/2026 and remaining awards vest annually (5,000 on 3/14/2027 and 5,000 on 3/14/2028).
- Several footnotes note that some shares are held in trusts (Abbott Brook Trust, David Hall Trust 2003, North Branch Trust, Comack Trust-B, Abbott Brook Trust-B) where Ms. Gallup serves as trustee or beneficiary, and she disclaims beneficial ownership of certain securities except to the extent of pecuniary interest.
Footnote highlights (from filing)
- F1: Each RSU represents a contingent right to receive one share of common stock.
- F2: Reporting person disclaims beneficial ownership except to extent of pecuniary interest.
- F3–F7: Certain shares are held in various trusts for which Ms. Gallup is trustee/beneficiary.
- F8: RSUs granted 3/14/2024; 5,000 vested 3/14/2026; remaining 5,000 vest 3/14/2027 and 3/14/2028.