Patricia Gallup, serving as both Chairman and Chief Administrative Officer of PC Connection Inc. (NASDAQ: CNXN), has reported the sale of common stock valued at approximately $1,030,199. The transaction involved a total of 14,308 shares, executed at prices per share ranging from $71.63 to $72.61. These sales took place over a two-day period on June 8 and June 9, 2026.
The shares were sold indirectly through the David Hall Trust 2003, an irrevocable trust where Ms. Gallup acts as the sole trustee and is the sole beneficiary. The transactions were carried out in accordance with a Rule 10b5-1 trading plan, which was established by the trust on March 9, 2026. This pre-arranged framework dictates the timing and execution of the trades, separating the decision from immediate market conditions.
Following these sales, the David Hall Trust 2003 retains a holding of 7,027,747 shares of PC Connection common stock. Ms. Gallup also maintains direct ownership of 2,533,258 shares. Her broader indirect holdings include 906,837 shares through the Abbott Brook Trust, 275,000 shares via the North Branch Trust, 1,000,000 shares through the Comack Trust-B, and 2,000,000 shares via the Abbott Brook Trust-B. An additional 15,133 shares are held indirectly by her spouse, though Ms. Gallup disclaims beneficial ownership except to the extent of her pecuniary interest.
The insider sales occur as PC Connection trades near its 52-week high of $75, with the stock currently priced at $74.11. The company has delivered strong returns, marked by a 29% gain year-to-date and a 23% increase over the past six months. According to InvestingPro analysis, the stock appears overvalued at current levels based on Fair Value metrics.
In recent corporate developments, PC Connection reported robust financial results for the first quarter of 2026. The company achieved earnings per share of $0.77, surpassing the projected $0.63. Revenue also exceeded expectations, reaching $721.9 million compared to the anticipated $698.84 million. These results underscore a strong start to the year for PC Connection, reinforcing market confidence in its performance. The company’s financial achievements have drawn attention from investors and analysts alike, with several analyst firms likely to review their projections in light of these results.