NELMS DAVID W 4

What Happened
David W. Nelms, a director of CDW Corp (CDW), was granted 229 restricted stock units (RSUs) on July 1, 2026. The Form 4 reports the acquisition as an award (code A) at $0.00 per share (a non-cash grant). The filing’s footnote states these are fully vested RSUs awarded under the CDW Long-Term Incentive Plan in lieu of cash for the annual director retainer; settlement into common shares has been deferred per the award agreement.

Key Details

• Transaction date: 2026-07-01; Form 4 filed: 2026-07-06 (filed 5 days after the transaction — past the typical 2 business day Form 4 deadline).
• Transaction type/code: Award/grant (A).
• Shares/units granted: 229 RSUs; reported price: $0.00.
• Shares owned after transaction: Not specified in the provided filing details.
• Footnote: Grant is fully vested, awarded in lieu of cash retainer and settlement into shares is deferred under the award agreement.

Context
RSUs are a form of equity compensation that entitle the recipient to receive shares (or cash equivalent) in the future; fully vested RSUs mean no additional service requirement, but deferred settlement delays receipt of shares. This type of transaction is typically routine director compensation rather than an open-market purchase or sale and does not by itself indicate the director’s view on the company’s stock.