PC Connection (NASDAQ: CNXN) chair reports Rule 10b5-1 trust sales near $70
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
PC Connection, Inc. director and executive Patricia Gallup reported indirect open-market sales of 14,284 shares of Common Stock at prices around $70 per share. The filing shows four sale transactions on June 23–24, 2026, with reported prices ranging from $69.23 to $70.52 per share, calculated as weighted average prices across multiple trades.
The sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the David Hall Trust 2003, an irrevocable New Hampshire trust for which Ms. Gallup serves as sole trustee and sole beneficiary of that trust’s shares. After these transactions, indirect holdings reported through various trusts totaled about 7,013,463 shares, and an additional 533,258 shares were reported as held directly. The filing notes that Ms. Gallup disclaims beneficial ownership of certain securities except to the extent of her pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 14,284 shares ($998,491)
Net Sell
11 txns
Insider
GALLUP PATRICIA, PC CONNECTION INC
Role
Chairman & Chief Admin Officer | null
Sold
14,284 shs ($998K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 6,576 | $70.04 | $461K |
| Sale | Common Stock | 566 | $70.52 | $40K |
| Sale | Common Stock | 2,275 | $69.23 | $157K |
| Sale | Common Stock | 4,867 | $69.96 | $340K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 7,014,029 shares (Indirect, By Trust);
Common Stock — 533,258 shares (Direct, null)
Footnotes (1)
- The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the David Hall Trust 2003 on March 9, 2026. These shares are held directly by the Comack Trust-B, a grantor retained annuity trust formed under the laws of the State of New Hampshire. The reporting person is the sole trustee of the Comack Trust-B. These shares are held directly by the Abbott Brook Trust-B, a grantor retained annuity trust formed under the laws of the State of New Hampshire. The reporting person is the sole trustee of the Abbott Brook Trust-B. These shares are held directly by the Abbott Brook Trust II, a grantor retained annuity trust formed under the laws of the State of New Hampshire. The reporting person is the sole trustee of the Abbott Brook Trust II. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $68.67 to $69.62 per share, inclusive. The reporting person undertakes to provide PC Connection, Inc., any security holder of PC Connection, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote. These shares are held directly by the David Hall Trust 2003, an irrevocable trust formed under the laws of the State of New Hampshire. Ms. Gallup serves as the sole trustee and is the sole beneficiary of the shares held by the David Hall Trust 2003. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $69.71 to $70.26 per share, inclusive. The reporting person undertakes to provide PC Connection, Inc., any security holder of PC Connection, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $69.48 to $70.47 per share, inclusive. The reporting person undertakes to provide PC Connection, Inc., any security holder of PC Connection, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote. The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $70.48 to $70.57 per share, inclusive. The reporting person undertakes to provide PC Connection, Inc., any security holder of PC Connection, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote. The reporting person disclaims beneficial ownership of these securities, except to the extent of such person's pecuniary interest therein. This report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose. These shares are held directly by the Abbott Brook Trust, a grantor retained annuity trust formed under the laws of the State of New Hampshire. The reporting person is the sole trustee of the Abbott Brook Trust. These shares are held directly by the North Branch Trust, an irrevocable trust formed under the laws of the State of New Hampshire. Ms. Gallup serves as the sole trustee of the North Branch Trust.
Key Figures
Shares sold: 14,284 shares
Sale price 1: $69.23 per share
Sale price 2: $69.96 per share
+5 more
8 metrics
Shares sold
14,284 shares
Total open-market sales reported on June 23–24, 2026
Sale price 1
$69.23 per share
Weighted average price for one June 23, 2026 sale
Sale price 2
$69.96 per share
Weighted average price for one June 23, 2026 sale
Sale price 3
$70.04 per share
Weighted average price for one June 24, 2026 sale
Sale price 4
$70.52 per share
Weighted average price for one June 24, 2026 sale
Indirect holdings after trades
7,013,463 shares
Indirectly held through trusts following latest reported sale
Direct holdings
533,258 shares
Shares reported as held directly as of June 23, 2026
Net insider direction
14,284 net-sell shares
Form 4 transaction summary for this reporting period
Key Terms
Rule 10b5-1 trading plan, grantor retained annuity trust, weighted average price, irrevocable trust, +1 more
5 terms
Rule 10b5-1 trading plan regulatory
"The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the David Hall Trust 2003"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
grantor retained annuity trust financial
"a grantor retained annuity trust formed under the laws of the State of New Hampshire"
A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.
weighted average price financial
"The reported price is a weighted average price. These shares were sold in multiple transactions"
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
irrevocable trust financial
"an irrevocable trust formed under the laws of the State of New Hampshire"
An irrevocable trust is a legal arrangement where an owner transfers assets into a separate entity managed by a trustee and gives up the power to modify or reclaim those assets. For investors it matters because putting stock or other holdings into such a trust can change who controls and benefits from the assets, affect taxes and creditor protection, and influence how easy it is to sell or value those holdings—like placing valuables in a locked safe overseen by someone else.
beneficial ownership regulatory
"The reporting person disclaims beneficial ownership of these securities, except to the extent of such person's pecuniary interest therein"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
FAQ
What insider transaction did CNXN report for Patricia Gallup on this Form 4?
The Form 4 reports indirect open-market sales of 14,284 PC Connection (CNXN) common shares. These sales occurred over two days at prices around $70 per share, executed through trusts associated with Patricia Gallup and reported as indirect ownership.