Form 4: Core & Main Director Robert Buck Receives Stock Grant

Director Robert M. Buck received 2,449 restricted stock units (RSUs) as part of his director compensation, vesting in 2025.

Summary

• Robert M. Buck, a director at Core & Main, Inc., received 2,449 restricted stock units (RSUs) on June 26, 2024.
• 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 to be held in 2025.
• Upon vesting, the RSUs will be settled in shares of Class A common stock, contingent on Buck's continued service as a director.
• Following this transaction, Buck beneficially owns 10,861 shares of Class A Common Stock, including previously granted RSUs.

Sentiment

Score: 7

Explanation: The document indicates standard director compensation practices, suggesting a stable and well-governed company. The sentiment is neutral to positive.

Positives

• The grant of RSUs aligns the director's 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 to align the interests of board members with those of shareholders. This encourages long-term value creation.

Comparison to Industry Standards

• Stock grants to directors are a standard practice across publicly traded companies.
• The size of the grant is likely determined by company size, performance, and industry benchmarks.
• Comparing the grant to similar companies in the construction and infrastructure sector would provide further context.

Stakeholder Impact

• Shareholders benefit from aligning director interests with company performance through stock-based compensation.
• The director is incentivized to contribute to the long-term success of the company.

Key Dates