CDW (CDW) executive Connelly receives dividend-equivalent share grant, holds 34K shares

Rhea-AI Filing Summary

CDW Corp executive Elizabeth H. Connelly reported an acquisition of 88.41 shares of common stock as a grant/award. The shares represent dividend equivalents linked to previously granted restricted stock units under the CDW Corporation Long-Term Incentive Plan at a reference price of $129.30 per share.

After this award and related adjustments, Connelly directly holds 34,215.46 CDW common shares. A footnote also notes an adjustment adding 6.2 dividend-equivalent shares from March 10, 2026 that had been omitted from an earlier Form 4.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider CONNELLY ELIZABETH H.

Role See Remarks

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, par value $0.01	88.41	$129.30	$11K

Holdings After Transaction: Common Stock, par value $0.01 — 34,215.46 shares (Direct, null)

Footnotes (1)

1. Dividend equivalents awarded pursuant to outstanding restricted stock unit awards previously granted under the CDW Corporation Long-Term Incentive Plan. This figure has been adjusted to reflect the addition of 6.2 shares, representing dividend equivalent awards on March 10, 2026, which were inadvertently omitted from the Form 4 filed on March 12, 2026.

Key Figures

Shares granted: 88.41 shares Reference price per share: $129.30/share Total shares after transaction: 34,215.46 shares +1 more

4 metrics

Shares granted 88.41 shares Dividend equivalent grant on common stock

Reference price per share $129.30/share Price associated with the awarded shares

Total shares after transaction 34,215.46 shares Direct CDW holdings following the award

Dividend equivalents adjustment 6.2 shares Previously omitted dividend equivalents from March 10, 2026

Key Terms

dividend equivalents, restricted stock unit, Long-Term Incentive Plan, grant/award acquisition

4 terms

dividend equivalents financial

"Dividend equivalents awarded pursuant to outstanding restricted stock unit awards"

Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.

restricted stock unit financial

"outstanding restricted stock unit awards previously granted under the CDW Corporation Long-Term Incentive Plan"

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

Long-Term Incentive Plan financial

"previously granted under the CDW Corporation Long-Term Incentive Plan"

A long-term incentive plan is a company program that pays executives or employees with stock, options, or cash tied to multi-year performance goals, where the rewards become theirs only after meeting conditions over time. Think of it as a delayed bonus or retirement-style reward that aligns employees’ interests with shareholders by encouraging them to boost long-term value; investors watch these plans because they affect pay costs, share dilution and management incentives.

grant/award acquisition financial

"transaction_action": "grant/award acquisition""

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

CONNELLY ELIZABETH H.

(Last) (First) (Middle)

C/O CDW CORPORATION

200 N MILWAUKEE AVE

(Street)

VERNON HILLS ILLINOIS 60061

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
CDW Corp [ CDW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/10/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.01	06/10/2026		A		88.41(1)	A	$129.3	34,215.46(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Dividend equivalents awarded pursuant to outstanding restricted stock unit awards previously granted under the CDW Corporation Long-Term Incentive Plan.

2. This figure has been adjusted to reflect the addition of 6.2 shares, representing dividend equivalent awards on March 10, 2026, which were inadvertently omitted from the Form 4 filed on March 12, 2026.

Remarks:

Chief Commercial Officer and Executive Vice President

	/s/ Stephanie Tso, Attorney-in-Fact	06/12/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did CDW (CDW) report for Elizabeth H. Connelly?

Elizabeth H. Connelly received 88.41 CDW common shares as a grant tied to existing restricted stock units. These were dividend equivalent awards issued under the CDW Corporation Long-Term Incentive Plan, not an open-market stock purchase or sale.

Was the CDW (CDW) insider Form 4 a buy or sell transaction?

The Form 4 reports an acquisition, not a sale. Connelly received 88.41 shares classified as a grant or award of dividend equivalents, rather than buying or selling shares in the open market.

How many CDW (CDW) shares does Elizabeth H. Connelly hold after this transaction?

Following the reported grant of dividend equivalent shares, Connelly directly holds 34,215.46 shares of CDW common stock. This total incorporates adjustments described in the footnotes to the Form 4 filing.

What are dividend equivalents in the CDW (CDW) Form 4 filing?

Dividend equivalents are additional share-based awards that mirror dividends paid on underlying stock units. In this case, they were credited to Connelly’s outstanding restricted stock unit awards under CDW’s Long-Term Incentive Plan, resulting in 88.41 additional common shares.

Why does the CDW (CDW) Form 4 mention an adjustment of 6.2 shares?

A footnote explains that 6.2 dividend equivalent shares awarded on March 10, 2026 were inadvertently omitted from a prior Form 4. The current filing adjusts Connelly’s reported holdings to include those previously unreported shares.