PC Connection (CNXN) 10% Owner Patricia Gallup Sells Shares

What Happened

• Patricia Gallup, reported as a 10% owner of PC Connection, sold a total of 14,284 shares in open‑market transactions on Sept 1–2, 2026. The individual sales were: 4,872 shares @ $78.76 ($383,719), 2,270 shares @ $79.39 ($180,215), 4,458 shares @ $80.40 ($358,423), and 2,684 shares @ $80.88 ($217,082), for aggregate proceeds of about $1,139,439 (~$1.14M). All transactions are coded as sales (S).

Key Details

• Transaction dates and reported prices:
  • 2026-09-01: 4,872 shares @ $78.76 (F2 — weighted average; prices in range $78.18–$79.17)
  • 2026-09-01: 2,270 shares @ $79.39 (F4 — weighted average; range $79.18–$79.76)
  • 2026-09-02: 4,458 shares @ $80.40 (F5 — weighted average; range $79.69–$80.68)
  • 2026-09-02: 2,684 shares @ $80.88 (F6 — weighted average; range $80.71–$81.08)
• Sales were effected pursuant to a Rule 10b5‑1 trading plan adopted by the David Hall Trust 2003 on March 9, 2026 (F1).
• Many of the reported shares are held in trusts (e.g., David Hall Trust 2003, Comack Trust‑B, Abbott Brook Trust(s), North Branch Trust); Ms. Gallup is sole trustee/beneficiary for several of these trusts per the filing (F3, F8–F12). The filing also contains a customary disclaimer of beneficial ownership to the extent noted (F7).
• Shares owned after the transactions are not specified in the provided summary; the full Form 4 should be consulted for post‑transaction ownership totals.
• Filing date: Sept 3, 2026. That is within the typical two‑business‑day window for Form 4 filings (i.e., appears timely).

Context

• These are open‑market sales by a 10% owner and were executed under a pre‑arranged 10b5‑1 plan — a common mechanism that lets insiders sell according to a preset plan and helps avoid claims of trading on inside information. Sales by large shareholders are not the same signal as an executive purchase; they can reflect portfolio or trust management rather than a view on the company’s prospects.
• No purchases, option exercises, or awards are reported in this filing (all transactions are sales, code S).