Form 4: Core & Main CEO Witkowski Receives Stock Options and Restricted Stock Units

Core & Main CEO Mark Witkowski received stock options and restricted stock units on March 31, 2025, according to a Form 4 filing with the SEC.

Summary

• Mark Witkowski, CEO of Core & Main, Inc., reported changes in beneficial ownership to the SEC on April 2, 2025.
• On March 31, 2025, Witkowski was granted 10,092 restricted stock units (RSUs) and options to purchase 73,458 shares of Class A Common Stock.
• The RSUs vest in three equal annual installments starting March 11, 2026, and ending March 11, 2028.
• The options also vest in three equal installments starting March 11, 2026, and ending March 11, 2028, and have an exercise price of $48.31, expiring on March 31, 2035.
• Following these transactions, Witkowski directly owns 35,847 shares of Class A Common Stock and options to purchase 73,458 shares.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The granting of stock options and RSUs is a standard practice and generally viewed favorably as it aligns management's interests with shareholders.

Positives

• The grant of RSUs and stock options aligns the CEO's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the CEO.

Industry Context

Stock options and restricted stock units are common forms of executive compensation used to incentivize performance and align management's interests with shareholders' interests.

Comparison to Industry Standards

• Executive compensation packages, including stock options and RSUs, are common practice among publicly traded companies like Core & Main.
• Comparing the size and vesting schedules of these grants to those of executives at similar companies (e.g., Ferguson, HD Supply) would provide a benchmark for assessing their competitiveness and appropriateness.

Stakeholder Impact

• Shareholders may view the grant of stock options and RSUs positively as it incentivizes the CEO to improve company performance.
• Employees may see this as a positive sign of the company's commitment to its leadership.

Key Dates

Keywords

Form 4, Core & Main, Witkowski, Stock Options, Restricted Stock Units, CNM, Beneficial Ownership