PC Connection (PCCC) to Buyback 600K at $10.578/Share

December 17, 2012 7:05 AM EST
On December 14, 2012, the Board of Directors of PC Connection, Inc. (Nasdaq: PCCC) determined, upon recommendation by the Audit Committee of the Board, that it was in the best interests of the Company to repurchase an aggregate of 600,000 shares of the Company’s common stock from Patricia Gallup, the Chairman of the Board and Chief Administrative Officer of the Company, and David Hall, a member of the Board.

In connection with the Repurchase, the Company entered into a Stock Purchase Agreement, pursuant to which the Company will buy 300,000 shares back from each of Ms. Gallup and Mr. Hall at a price per share of $10.578, which is based on the volume weighted-average share price of the Company’s stock for the fifteen trading days ended December 13, 2012.

The Repurchase will close on December 17, 2012.

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