Form 4: Core & Main Director James D. Hope Receives Restricted Stock Unit Grant

Core & Main, Inc. Director James D. Hope was granted 2,189 shares of Class A Common Stock in the form of restricted stock units as part of his director compensation.

Summary

• James D. Hope, a Director of Core & Main, Inc. (CNM), acquired 2,189 shares of Class A Common Stock on June 24, 2025.
• These shares were granted as restricted stock units (RSUs) as part of his compensation for serving as a director.
• The RSUs were granted at a price of $0 per share.
• The restricted stock units are set to vest upon the earlier of the one-year anniversary of the grant date (June 24, 2026) or the Issuer's next annual meeting of shareholders to be held in 2026.
• Vesting is contingent upon Mr. Hope's continued service as a director of Core & Main.
• Following this transaction, James D. Hope beneficially owns a total of 4,967 shares of Class A Common Stock directly.

Sentiment

Score: 7

Explanation: The document reports a routine director compensation grant, which is a positive sign of aligning interests and standard corporate practice, without any negative implications.

Positives

• The grant of restricted stock units aligns the director's financial interests with those of the shareholders, as the value of his compensation is tied to the company's stock performance.
• This is a standard practice for director compensation, indicating routine corporate governance.

Future Outlook

The restricted stock units granted to Director James D. Hope are scheduled to vest upon the earlier of June 24, 2026 (one-year anniversary of the grant date) or the company's next annual meeting of shareholders in 2026, provided he continues his service as a director.

Industry Context

The grant of restricted stock units to a director is a common practice across various industries for executive and board compensation. It serves to align the interests of the board member with the long-term performance of the company and its shareholders.

Comparison to Industry Standards

• Granting restricted stock units (RSUs) as part of director compensation is a widely adopted practice among publicly traded companies, including those in the distribution and infrastructure sectors like Core & Main.
• This method is favored for its ability to align director incentives with shareholder value creation over time, similar to compensation structures seen at comparable companies such as Ferguson plc (FERG) or HD Supply (HDS), though specific grant sizes and vesting schedules vary by company and individual role.

Related Party Transactions

• The grant of 2,189 restricted stock units to James D. Hope, a Director, constitutes a related party transaction as it involves compensation provided by the company to a member of its board.

Stakeholder Impact

• Shareholders: The grant aligns the director's interests with shareholders by tying a portion of his compensation to the company's stock performance, potentially encouraging decisions that enhance long-term shareholder value.

Next Steps

• Vesting of the 2,189 restricted stock units upon the earlier of June 24, 2026, or the Issuer's next annual meeting in 2026, subject to continued service.

Key Dates

Keywords

Core & Main, CNM, SEC Form 4, Insider Transaction, Director Compensation, Restricted Stock Units, RSU Grant, Equity Compensation, Corporate Governance