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

Core & Main's CFO, Mark Witkowski, was granted stock options and restricted stock units, as detailed in a recent SEC filing.

Summary

• Mark Witkowski, CFO of Core & Main, Inc., reported changes in beneficial ownership to the SEC on March 11, 2024.
• On March 7, 2024, Witkowski was granted 4,677 restricted stock units (RSUs), each representing a contingent right to receive one share of Class A common stock.
• These RSUs vest in three equal annual installments on March 7, 2025, March 7, 2026, and March 7, 2027.
• Witkowski also received options to buy 36,726 shares of Class A Common Stock at an exercise price of $50.12.
• These options also vest in three equal installments on March 7, 2025, March 7, 2026, and March 7, 2027.
• Following these transactions, Witkowski beneficially owns 23,898 shares of Class A Common Stock, including previously granted RSUs, and options for 36,726 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. There are no negative aspects presented in the filing.

Positives

• The granting of RSUs and stock options to the CFO aligns his interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the CFO.

Industry Context

Granting stock options and RSUs to key executives is a common practice in publicly traded companies to incentivize performance and retain talent. The specific terms of the grant, such as the vesting schedule and exercise price, are tailored to the company's specific circumstances and goals.

Comparison to Industry Standards

• Stock option and RSU grants are standard compensation practices for CFOs in publicly traded companies.
• Companies like Ferguson plc and HD Supply, which operate in similar industries, also utilize equity-based compensation to align executive incentives with shareholder value.
• The vesting schedules (three equal annual installments) are typical for these types of grants.

Stakeholder Impact

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

Key Dates