Form 4: Core & Main CEO Stephen LeClair Reports Changes in Beneficial Ownership
SEC Form 4
Stephen LeClair, CEO of Core & Main, reports transactions involving Class A and Class B Common Stock, including share forfeitures for tax withholding and transfers of units to revocable and irrevocable trusts.
Summary
- Stephen LeClair, CEO of Core & Main, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- The report includes forfeitures of Class A Common Stock to cover tax withholdings upon the vesting of restricted stock units (RSUs).
- Specifically, 3,478 shares were forfeited on March 13, 2023, at $21.45 per share, and 3,682 and 4,052 shares were forfeited on March 11, 2024, at $48.29 per share.
- LeClair also transferred 1,522,945 units to a revocable trust and 250,000 units to an irrevocable trust on January 15, 2025.
- These units are redeemable for Class B Common Stock and limited partnership interests on a one-for-one basis.
- As of the report, LeClair directly owns 81,137 shares of Class A Common Stock and indirectly owns 1,522,945 units through a revocable trust and 250,000 units through an irrevocable trust.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing detailing stock transactions. It doesn't convey any positive or negative sentiment about the company's performance or prospects.
Future Outlook
The document does not contain specific forward-looking statements beyond the vesting schedules of the RSUs.
Industry Context
This filing is a routine disclosure related to executive compensation and personal financial management, and doesn't directly reflect on Core & Main's operational performance or competitive positioning within the industry.
Key Dates
| Date | Description |
|---|---|
| 03/13/2023 | Forfeiture of 3,478 shares of Class A Common Stock for tax withholding. |
| 03/11/2024 | Forfeiture of 3,682 and 4,052 shares of Class A Common Stock for tax withholding. |
| 01/15/2025 | Transfer of 1,522,945 units to a revocable trust and 250,000 units to an irrevocable trust. |
| 01/16/2025 | Date from which Class B Common Stock and Limited Partnership Interests are redeemable. |
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