Form 4: Core & Main Director Receives Stock Grant

Bhavani Amirthalingam, a director at Core & Main, Inc., received 2,449 restricted stock units (RSUs) as part of director compensation.

Summary

• Bhavani Amirthalingam, a director of Core & Main, Inc., filed a Form 4.
• On June 26, 2024, Amirthalingam acquired 2,449 shares of Class A Common Stock in the form of restricted stock units (RSUs).
• These RSUs were 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 in 2025, contingent upon continued service as a director.
• Following the transaction, Amirthalingam beneficially owns 12,967 shares of Class A Common Stock, including previously granted RSUs.

Sentiment

Score: 7

Explanation: The document reflects a standard transaction related to director compensation, which is generally viewed neutrally to positively as it aligns director interests with shareholders. There are no indications of negative sentiment.

Positives

• The grant of RSUs to a director aligns their interests with those of the shareholders.
• The vesting schedule incentivizes continued service as a director.

Future Outlook

The RSUs 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

Director compensation in the form of stock grants is a common practice in publicly traded companies to align the interests of directors with those of shareholders. This encourages directors to focus on long-term value creation.

Comparison to Industry Standards

• Stock grants are a typical component of director compensation packages in similar companies within the construction and infrastructure sectors.
• The vesting schedule of one year or until the next annual meeting is also fairly standard, aligning with common practices among peer companies.

Stakeholder Impact

• Shareholders: Aligns director interests with shareholder value.
• Employees: No direct impact.
• Customers: No direct impact.
• Suppliers: No direct impact.
• Creditors: No direct impact.

Key Dates