Form 4: Core & Main Director Orvin T. Kimbrough Reports Changes in Beneficial Ownership

Director Orvin T. Kimbrough reports acquisition of restricted stock units and beneficial ownership through Core & Main Management Feeder, LLC.

Summary

• On June 26, 2024, Orvin T. Kimbrough, a director of Core & Main, Inc., reported changes in beneficial ownership of the company's Class A Common Stock.
• Kimbrough acquired 2,449 shares of Class A Common Stock through restricted stock units (RSUs) granted as director compensation.
• These RSUs will vest on the earlier of the one-year anniversary of the grant date or the company's next annual meeting in 2025, and will be settled in shares of Class A common stock, contingent upon continued service as a director.
• Following the reported transaction, Kimbrough directly owns 11,769 shares of Class A Common Stock.
• Kimbrough also has indirect beneficial ownership through Core & Main Management Feeder, LLC, holding common units 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 alignment of interests. There are no indications of negative events or concerns.

Positives

• The acquisition of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting of RSUs is contingent on continued service, incentivizing the director's commitment to the company.

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 transaction could have a minor positive impact on shareholders by aligning the director's interests with the company's performance.

Key Dates