CDW (CDW) executive receives 18.56-share dividend-equivalent stock award under incentive plan

Rhea-AI Filing Summary

CDW Corp executive Peter R. Locy received an automatic stock-based compensation adjustment. On this Form 4, he acquired 18.56 shares of common stock as dividend equivalents tied to previously granted restricted stock units under the CDW Corporation Long-Term Incentive Plan, bringing his direct holdings to 5,921.15 shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider LOCY PETER R

Role See Remarks

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, par value $0.01	18.56	$129.30	$2K

Holdings After Transaction: Common Stock, par value $0.01 — 5,921.15 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Shares awarded: 18.56 shares Fair value per share: $129.30 per share Shares held after: 5,921.15 shares

3 metrics

Shares awarded 18.56 shares Dividend equivalents credited on 2026-06-10

Fair value per share $129.30 per share Reference price for the 18.56-share award

Shares held after 5,921.15 shares Direct CDW common stock holdings post-transaction

Key Terms

dividend equivalents, restricted stock unit, Long-Term Incentive Plan, grant, award, or other 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"

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, or other acquisition financial

"transaction code description: Grant, award, or other 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^*

LOCY PETER R

(Last) (First) (Middle)

C/O CDW CORPORATION

200 N MILWAUKEE

(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		18.56(1)	A	$129.3	5,921.15	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.

Remarks:

Senior Vice President, Controller, and Chief Accounting Officer

	/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 Peter R. Locy?

CDW reported that executive Peter R. Locy acquired 18.56 shares of common stock. These shares were issued as dividend equivalents on previously granted restricted stock units under the company’s Long-Term Incentive Plan, reflecting routine stock-based compensation rather than an open-market purchase.

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

The transaction was not a market buy or sell. It was coded “A” as a grant or award acquisition, representing 18.56 dividend-equivalent shares issued in connection with outstanding restricted stock unit awards, rather than shares bought or sold on the open market.

How many CDW (CDW) shares does Peter R. Locy hold after this Form 4?

After the reported grant, Peter R. Locy directly holds 5,921.15 shares of CDW common stock. This total includes the additional 18.56 dividend-equivalent shares credited under his previously granted restricted stock unit awards through the Long-Term Incentive Plan.

What does the 18.56-share award mean for CDW (CDW) investors?

The 18.56-share award is a small, routine stock-based compensation adjustment. It reflects dividend equivalents on existing restricted stock units, not a discretionary insider trade, and therefore does not materially change ownership dynamics or provide a strong signal about management’s view of CDW’s stock.

How is the CDW (CDW) insider transaction classified in the Form 4?

The Form 4 classifies the transaction with code “A” for grant, award, or other acquisition. It describes dividend equivalents credited as 18.56 additional common shares linked to outstanding restricted stock unit awards under the CDW Corporation Long-Term Incentive Plan, held directly by the executive.