Gallup Patricia - Jun 2, 2023 Form 4 Insider Report for PC CONNECTION INC (CNXN)

Role: Chairman & Chief Admin Officer, Director, 10%+ Owner
Signature: /s/Patricia Gallup
Stock symbol: CNXN
Transactions as of: Jun 2, 2023
Transactions value $: -$27,756
Form type: 4
Date filed: 6/6/2023, 04:11 PM
Previous filing: Mar 15, 2023
Next filing: Jun 9, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CNXN	Common Stock	Sale	-$27.8K	-600	-0.35%	$46.26	172K	Jun 2, 2023	By Estate	F1, F2, F3
holding	CNXN	Common Stock						4.61M	Jun 2, 2023	Direct	F4
holding	CNXN	Common Stock						15.1K	Jun 2, 2023	By Spouse	F5
holding	CNXN	Common Stock						2.46M	Jun 2, 2023	By Trust	F4, F5, F6
holding	CNXN	Common Stock						6.88M	Jun 2, 2023	By Trust	F5, F7
holding	CNXN	Common Stock						275K	Jun 2, 2023	By Trust	F5, F8

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id	Content
F1	The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Estate of David McLellan Hall (the Estate) on November 10, 2022.
F2	The reported price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $46.25 to $46.30 per share, inclusive. The reporting persons 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.
F3	These shares are held directly by the Estate, for which Patricia Gallup serves as executor. Ms. Gallup is also the beneficiary of trusts which will receive the shares held by the Estate.
F4	On May 8, 2023, the Comack Trust distributed 2,539,948 shares of common stock to Ms. Gallup as part of a regularly scheduled annuity payment.
F5	The reporting persons disclaim 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 persons are the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
F6	These shares are held directly by the Comack Trust, a grantor retained annuity trust formed under the laws of the State of New Hampshire. The reporting person is the sole trustee and sole annuitant of the Comack Trust.
F7	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.
F8	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.