CDW Corp SEC Filings

CDW Corp executive Elizabeth H. Connelly, Chief Commercial Officer and Executive Vice President, exercised employee stock options and sold the resulting common shares on August 7, 2026. She exercised options for 26,695 shares of common stock at strike prices of $95.57 and $98.21 per share, then sold 26,695 shares of common stock at a weighted average price of $137.62 per share, with individual sale prices ranging from $137.345 to $137.978 according to the filing footnote.

CDW Corporation reported second-quarter net sales of $6,572.2 million, up 10.0% from $5,976.6 million a year earlier, with customer demand cited in data storage and servers, notebooks/mobile devices, software, and netcomm products. Net income was $274.4 million, compared with $271.2 million, and diluted EPS was $2.15, compared with $2.05.

Profit growth trailed sales growth as gross profit margin decreased to 20.1% from 20.8%, primarily from mix into and lower margin in certain hardware categories. Operating income was $428.6 million, up 2.0%, while operating income margin decreased to 6.5% from 7.0%. For the six months ended June 30, 2026, net sales were $12,252.0 million, up 9.6%, and net income was $509.8 million, up 2.8%.

Operating cash flow for the first half was $219.7 million, down from $443.1 million, mainly due to accounts receivable and merchandise inventory, partly offset by accounts payable-trade. CDW repurchased 4.5 million shares for $544.7 million and reported a Board-authorized $1 billion increase to the share repurchase program.

CDW Corporation stated that Chief Financial Officer and Executive Vice President, Enterprise Business Operations, Albert J. Miralles informed the company on August 3, 2026 of his intention to retire in 2027 after an orderly transition. He will remain in his current role until a successor is appointed, then serve as Executive Advisor through March 31, 2028, focusing on Geared for Growth initiatives, investor relations support, M&A, and leadership development.

His current compensation will remain in place through March 31, 2027, including eligibility for a 2026 annual cash incentive and a prorated 2027 incentive. From April 1, 2027 to March 31, 2028, his annual base salary will be $60,000, with no annual cash incentive or participation in the 2027 or 2028 long-term incentive program. He will remain subject to his Compensation Protection Agreement through March 31, 2027, but without a Good Reason termination right, and severance eligibility under that agreement will cease on that date. The company and Miralles entered into a letter agreement on August 4, 2026, and outlined the transition in an August 5, 2026 press release.

CDW Corporation reported second quarter 2026 results showing solid top-line growth and continued capital returns. Net sales for the quarter were $6,572.2 million, up 10.0% from $5,976.6 million a year earlier, with growth driven by data storage and servers, notebooks/mobile devices, software, and networking products.

Commercial net sales rose 9.2% to $3,965.4 million, Government 13.6% to $848.0 million, Education 0.7% to $933.1 million, and UK/Canada (“Other”) 22.9% to $825.7 million. Gross profit increased 6.3% to $1,319.8 million, though gross margin slipped to 20.1% from 20.8%, reflecting mix into lower-margin hardware.

Operating income grew 2.0% to $428.6 million, while non-GAAP operating income rose 7.0% to $556.0 million. Net income was $274.4 million, up 1.2%, and diluted EPS was $2.15, up 5.1%. Non-GAAP diluted EPS increased 11.9% to $2.91. For the first half of 2026, net cash provided by operating activities was $219.7 million versus $443.1 million a year earlier.

The Board declared a quarterly cash dividend of $0.630 per share, payable September 10, 2026 to shareholders of record on August 25, 2026. Since its 2013 IPO, CDW notes its dividend has increased nearly fifteen-fold and that it has returned approximately $8.8 billion to stockholders via dividends and share repurchases, with about $1,138 million remaining under the current repurchase authorization.

NELMS DAVID W reported acquisition or exercise transactions in this Form 4 filing.

CDW Corp director David W. Nelms received an award of 229 shares of common stock as fully vested restricted stock units under the CDW Corporation Long-Term Incentive Plan. The grant serves as non-cash payment for his annual director retainer and will be settled in CDW common shares at a later date. Following this grant, he holds 51,415.02 CDW shares directly.

Swedish Joseph reported acquisition or exercise transactions in this Form 4 filing.

CDW Corp director Joseph Swedish reported an equity compensation grant rather than a market trade. On July 1, 2026, he received 208 fully vested restricted stock units under the CDW Corporation Long-Term Incentive Plan, in lieu of cash for his annual director retainer, granted quarterly in arrears.

The units carry no purchase price and represent deferred settlement into shares of CDW common stock pursuant to the applicable award agreement. Following this grant, Swedish directly holds 20,202.4 shares of CDW common stock.

Jones Marc Ellis reported acquisition or exercise transactions in this Form 4 filing.

CDW Corp director Marc Ellis Jones received 21.88 shares of common stock as dividend equivalents tied to previously granted restricted stock units under the CDW Corporation Long-Term Incentive Plan. His direct holdings increased to 4,513.33 shares, including a 1.29-share dividend-equivalent adjustment to a prior Form 4.

CDW Corp officer Hang Tan reported an acquisition of common stock through a compensation-related award. On June 10, 2026, Tan received 164.69 shares of CDW common stock at a reference price of $129.30 per share, classified as a grant or award.

According to the footnote, these shares are dividend equivalents tied to previously granted restricted stock unit awards under the CDW Corporation Long-Term Incentive Plan. After this transaction, Tan directly holds a total of 33,966.69 shares of CDW common stock.