PC Connection (CNXN) 10% Owner Patricia Gallup Converts 500 RSUs

What Happened

• Patricia Gallup, a reported 10% owner of PC Connection, converted 500 restricted stock units (derivative transaction code M) into 500 common shares on 2026-09-01 (reported acquisition price $0). The filing also reports a simultaneous disposition of 500 shares (also $0) on the same date. The Form 4 reports $0 as the exercise/conversion price and $0 proceeds for the disposition.

Key Details

• Transaction date: 2026-09-01; Form filed: 2026-09-02 (timely).
• Acquired: 500 shares via conversion (code M) at $0.00 reported price.
• Disposed: 500 shares (derivative) at $0.00 reported price.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Notable footnotes: F8/F9 — these were restricted stock units that convert one-for-one and were granted Feb 13, 2018 with vesting in ten annual installments of 500 units beginning Sept 1, 2018. F1 and F2–F7 describe trust holdings and a disclaimer of beneficial ownership except for pecuniary interest; Ms. Gallup serves as trustee/beneficiary for several trusts.

Context

• This filing records a conversion of RSUs rather than an open-market purchase. Reported exercise price $0 is common for RSU vesting (no cash exercise), and the simultaneous disposition may reflect share surrender/transfer or an internal adjustment — the form reports the disposition but gives no cash amount, so no sale proceeds are shown. As a 10% owner, Ms. Gallup is a large shareholder; these transactions reflect vested equity plan activity rather than a market buy/sell signal.