Form 4: Core & Main CFO Sells Shares Under Pre-Arranged Trading Plan

Core & Main's Chief Financial Officer, Robyn L. Bradbury, sold 5,000 shares of Class A common stock for approximately $322,550, executed under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Robyn L. Bradbury, Chief Financial Officer of Core & Main, Inc. (CNM), reported transactions involving the company's securities.
• On July 22, 2025, Bradbury redeemed 5,000 vested common units for 5,000 Paired Interests (Class B common stock and limited partnership interests of Core & Main Holdings, LP).
• Concurrently, these 5,000 Paired Interests were exchanged for 5,000 shares of Class A common stock on a one-for-one basis.
• Immediately following the exchange, Bradbury sold all 5,000 newly acquired Class A common shares at a weighted average price of $64.5101 per share.
• The total value of the shares sold was approximately $322,550.50.
• The sale was conducted pursuant to a Rule 10b5-1 trading plan adopted by Bradbury on April 1, 2025.
• Following these transactions, Bradbury directly holds 8,555 shares of Class A common stock.
• Additionally, 157,447 securities are held indirectly by Management Feeder in respect of Units held by the reporting person, which are redeemable for Paired Interests.

Sentiment

Score: 5

Explanation: The filing reports a routine insider transaction, specifically a pre-planned sale under a Rule 10b5-1 plan. This type of transaction is generally considered neutral as it is not indicative of new, non-public information about the company's performance.

Positives

• The sale was executed under a pre-arranged Rule 10b5-1 trading plan, indicating it was not based on new, non-public information.
• The transaction involved the conversion of internal equity units (Paired Interests) into publicly tradable Class A shares before the sale, demonstrating a structured approach to liquidity.

Negatives

• An insider sale, even if pre-planned, reduces the direct equity stake of a key executive in the company.

Future Outlook

The filing primarily reports past transactions and does not provide forward-looking statements or guidance regarding the company's future performance or strategic direction. The adoption of a Rule 10b5-1 plan on April 1, 2025, indicates a pre-planned approach to future stock transactions by the reporting person.

Industry Context

This Form 4 filing reports an individual insider transaction and does not provide broader industry context or trends. Such filings are routine disclosures for publicly traded companies, reflecting individual executive compensation and liquidity management strategies.

Comparison to Industry Standards

• This filing details an insider stock transaction, which is a standard disclosure requirement for public companies.
• There are no specific company or project results to compare against industry benchmarks.
• The use of a Rule 10b5-1 plan for stock sales is a common practice among executives to mitigate insider trading concerns and manage personal liquidity.

Stakeholder Impact

• Shareholders: The sale by a key executive slightly reduces their direct stake, but the pre-planned nature mitigates concerns about negative implications for company performance.
• Employees, Customers, Suppliers, Creditors: No direct impact is indicated by this insider transaction report.

Key Dates

Keywords

Core & Main, CNM, Robyn L. Bradbury, CFO, Insider Trading, Form 4, Stock Sale, Rule 10b5-1, Class A Common Stock, Equity Conversion