Form 4: Core & Main Director Dennis G. Gipson Reports Acquisition of Restricted Stock Units

Director Dennis G. Gipson reports acquisition of restricted stock units (RSUs) in Core & Main, Inc.

Summary

• On June 26, 2024, Dennis G. Gipson, a director of Core & Main, Inc., reported the acquisition of 2,449 shares of Class A Common Stock.
• These shares were received as restricted stock units (RSUs) granted as director compensation.
• The RSUs will vest on the earlier of the one-year anniversary of the grant date or the Issuer's next annual meeting of shareholders to be held in 2025, contingent upon continued service as a director.
• Gipson also indirectly owns 143 shares through Core & Main Management Feeder, LLC, which are redeemable for Class A common stock on a one-for-one basis.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard director compensation practices and aligns director interests with shareholders.

Positives

• The grant of RSUs aligns the director's interests with those of the shareholders, incentivizing continued service and contribution to the company's success.

Future Outlook

The restricted stock units will vest upon the earlier to occur of the one year anniversary of the grant date or the Issuer's next annual meeting of shareholders to be held in 2025 and be settled in shares of Class A common stock, subject to the reporting person's continued service as a director of the Issuer.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.

Stakeholder Impact

• The acquisition of RSUs by a director can positively influence shareholder confidence by aligning management's interests with those of the shareholders.

Key Dates