SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 19, 2021
(Exact name of registrant as specified in its charter)
(State or other jurisdiction
75 Tri-State International
|(Address of principal executive offices)||(Zip Code)|
Registrant’s telephone number, including area code: (847) 465-6000
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Name of each exchange
on which registered
|Common stock, par value $0.01 per share||CDW||Nasdaq Global Select Market|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
CDW Corporation 2021 Long-Term Incentive Plan
At the 2021 Annual Meeting of Stockholders of CDW Corporation (the “Company”) held on May 20, 2021 (the “Annual Meeting”), the Company’s stockholders approved the CDW Corporation 2021 Long-Term Incentive Plan (the “LTIP”), which previously had been approved by the Company’s Board of Directors (the “Board”) subject to stockholder approval. The LTIP replaces the CDW Corporation Amended and Restated 2013 Long-Term Incentive Plan (the “Prior Plan”) and is largely based on the Prior Plan, but with updates to the available shares and other administrative changes. The following paragraphs provide a summary of certain terms of the LTIP.
Consistent with the Prior Plan, the purposes of the LTIP are to: (i) align the interests of the Company’s stockholders and the recipients of awards under the LTIP by increasing the proprietary interest of such recipients in the Company’s growth and success; (ii) advance the interests of the Company by attracting and retaining non-employee directors, officers, other employees, consultants, independent contractors and agents; and (iii) motivate such persons to act in the long-term best interests of the Company and its stockholders.
Under the LTIP, the Company may grant: (i) nonqualified stock options; (ii) incentive stock options (within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended); (iii) stock appreciation rights (“SARs”); (iv) restricted stock, restricted stock units and other stock awards (“Stock Awards”); and (v) performance awards. Subject to the terms and conditions of the LTIP, the number of shares of Company common stock authorized for grants under the Incentive Plan is 6,600,000 shares plus the number of shares that remained available for future grant under the Prior Plan as of the effectiveness of the LTIP. The LTIP’s share limit will be reduced by the aggregate number of shares of Company common stock which become subject to outstanding options, outstanding free-standing SARs, outstanding Stock Awards and outstanding performance awards denominated in shares of Company common stock.
The foregoing description of the LTIP does not purport to be complete and is qualified in its entirety by reference to the complete text of the LTIP, which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
CDW LLC Nonqualified Deferred Compensation Plan
On May 19, 2021, the Compensation Committee of the Board adopted the CDW LLC Nonqualified Deferred Compensation Plan (the “Plan”), effective July 1, 2021. The Plan allows a select group of management and highly compensated coworkers, including all executive officers of the Company, to elect to defer the receipt of a portion of their base salaries and bonuses, and to receive such deferred compensation in the form of a lump sum or periodic installments, as elected by the coworker. The Plan also permits CDW LLC, in its sole discretion, to credit additional amounts to the deferral accounts of some or all Plan participants.
Amendment to Articles of Incorporation or Bylaws; Change in Fiscal Year.
At the Annual Meeting, the stockholders of the Company approved amendments to the Company’s Fifth Amended and Restated Certificate of Incorporation (as amended, the “Certificate of Incorporation”) to (i) eliminate the supermajority voting requirement in Article Eleven thereof and to make certain non-substantive changes and (ii) eliminate the obsolete competition and corporate opportunity provision (collectively, the “Amendments”), as further described in the Company’s Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on April 8, 2021. The Amendments to the Certificate of Incorporation became effective upon the filing of a Certificate of Amendment to Certificate of Incorporation (“Certificate of Amendment”) with the Secretary of State of the State of Delaware on May 20, 2021. A copy of the Certificate of Amendment is attached hereto as Exhibit 3.1 and is incorporated herein by reference.
On May 20, 2021, the Company also filed with the Secretary of State of the State of Delaware the Sixth Restated Certificate of Incorporation that restated and integrated, but did not further amend, the Certificate of Incorporation (as amended through the filing of the Certificate of Amendment described above). The foregoing description is qualified in its entirety by reference to the full text of the Sixth Restated Certificate of Incorporation, a copy of which is attached hereto as Exhibit 3.2 and is incorporated herein by reference.
Submission of Matters to a Vote of Security Holders.
On May 20, 2021, the Company held the Annual Meeting. The final voting results for each of the matters submitted to a stockholder vote at the Annual Meeting are set forth below.
The stockholders elected ten Directors with terms expiring at the Company’s 2022 Annual Meeting of Stockholders, subject to the election and qualification of their successors, based on the following voting results:
Election of Directors
Virginia C. Addicott
James A. Bell
Lynda M. Clarizio
Paul J. Finnegan
Anthony R. Foxx
Christine A. Leahy
David W. Nelms
Joseph R. Swedish
Donna F. Zarcone
The stockholders approved, on an advisory basis, the compensation of the Company’s named executive officers, based on the following voting results:
Advisory Vote on Executive Compensation
The stockholders ratified the selection of Ernst & Young LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2021, based on the following voting results:
Ratification of Independent Registered Public Accounting Firm
The stockholders approved the Amendment to the Company’s Certificate of Incorporation to eliminate the supermajority voting requirement in Article Eleven and to make certain non-substantive changes, based on the following voting results:
Approval of the Amendment to the Company’s Certificate of Incorporation to Eliminate the Supermajority Voting Requirement in Article Eleven and to Make Certain Non-Substantive Changes
The stockholders approved the Amendment to the Company’s Certificate of Incorporation to eliminate obsolete competition and corporate opportunity provision, based on the following voting results:
Approval of the Amendment to the Company’s Certificate of Incorporation to Eliminate Obsolete Competition and Corporate Opportunity Provision
The stockholders approved the CDW Corporation 2021 Long-Term Incentive Plan, based on the following voting results:
Approval of the CDW Corporation 2021 Long-Term Incentive Plan
The stockholders approved the Amendment to the CDW Corporation Coworker Stock Purchase Plan (“CSPP”) to increase the number of shares of Company common stock available for issuance under the CSPP by 800,000 shares, based on the following voting results:
Approval of the Amendment to the CDW Corporation Coworker Stock Purchase Plan
Financial Statements and Exhibits.
|3.1||Certificate of Amendment to Fifth Amended and Restated Certificate of Incorporation of CDW Corporation|
|3.2||Sixth Restated Certificate of Incorporation of CDW Corporation|
|10.1||CDW Corporation 2021 Long-Term Incentive Plan|
|104||Cover Page Interactive Data File (embedded within the Inline XBRL document)|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 21, 2021
/s/ Frederick J. Kulevich
|Frederick J. Kulevich|
Senior Vice President, General Counsel and