CONNELLY ELIZABETH H. 4

What Happened

• Elizabeth H. Connelly, Chief Commercial Officer and Executive Vice President of CDW Corp (CDW), received 106.92 shares as dividend equivalents on outstanding restricted stock units (RSUs) and, in connection with RSU settlement, had 1,372.9 shares withheld to cover tax liabilities. The withheld shares were disposed at $118.91 per share for a tax withholding value of $163,252.

Key Details

• Transaction dates: Award acquired 2026-03-10; tax-withholding disposition recorded 2026-03-12. Filing date: 2026-03-12 (appears timely).
• Prices and values: Awarded shares reported at $0.00 (dividend equivalents); 1,372.9 shares withheld at $118.91 resulting in ~$163,252 withheld for taxes.
• Shares owned after transaction: Not specified in the provided summary of the filing.
• Footnotes: F1 = dividend equivalents awarded under the CDW 2021 Long-Term Incentive Plan. F2 = shares withheld to cover taxes on RSU settlement.
• Transaction codes: A = Award/Grant; F = Tax withholding (shares surrendered to cover tax liability), not an open-market sale.

Context

• This was not an open-market purchase or discretionary sale. The acquisition reflects dividend equivalents credited on existing RSUs; the disposition is a routine “sell-to-cover”/withholding to satisfy tax obligations when RSUs vest/settle. Such withholding transactions are administrative and do not necessarily indicate the insider’s view on the company’s stock.