Form 4: Core & Main CAO Exercises Stock Options

Core & Main's Chief Accounting Officer, John Weldon Stephens, exercised options to acquire 12,717 shares of Class A Common Stock at $20.81 per share.

Summary

• John Weldon Stephens, Chief Accounting Officer of Core & Main, Inc. (CNM), exercised options to acquire 12,717 shares of Class A Common Stock.
• The transaction occurred on September 12, 2025, with an exercise price of $20.81 per share.
• Following this transaction, Mr. Stephens directly beneficially owns 16,837 shares of Class A Common Stock.
• The options exercised were part of a grant that vested in three equal annual installments on March 11, 2023, March 11, 2024, and March 11, 2025.
• After the exercise, Mr. Stephens holds 0 derivative securities (options).

Sentiment

Score: 7

Explanation: The exercise of options by a key executive and the subsequent increase in direct share ownership is generally viewed as a positive signal, indicating management's confidence in the company's long-term prospects and aligning their interests with shareholders. It is a routine compensation event, not a speculative purchase.

Positives

• The Chief Accounting Officer increased his direct ownership in the company by 12,717 shares, signaling continued confidence in Core & Main's future performance.
• The exercise of options at a strike price of $20.81 indicates that the options were in-the-money, reflecting value creation for the executive.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This is a routine insider transaction, common across all industries, where executives exercise previously granted stock options as part of their compensation package. It does not provide specific insights into broader industry trends for Core & Main.

Stakeholder Impact

• Shareholders: Increased insider ownership can be perceived positively, suggesting management's belief in the company's value and aligning executive interests with shareholder returns.
• Employees: This transaction is part of executive compensation, which can be a factor in overall employee morale and retention strategies.

Key Dates

Keywords

Core & Main, CNM, Insider Transaction, Stock Options, Executive Compensation, Form 4, John Weldon Stephens