Form 4: Core & Main Executive Exercises Stock Options and Sells Shares

John W. Stephens, VP and Corporate Controller of Core & Main, Inc., converted Class B common stock and limited partnership interests into Class A common stock, and sold 1,100 shares at an average price of $50.0182.

Summary

• On March 4, 2024, John W. Stephens, VP and Corporate Controller of Core & Main, converted 1,100 shares of Class B common stock and limited partnership interests into Class A common stock.
• The conversion was executed under the terms of an exchange agreement dated July 22, 2021.
• Simultaneously, 1,100 vested common units held by Stephens were redeemed for 1,100 Paired Interests under the LLC Agreement dated July 22, 2021.
• Stephens also sold 1,100 shares of Class A common stock at an average price of $50.0182 per share, with prices ranging from $50.0000 to $50.0400.
• The sale was conducted under a Rule 10b5-1 trading plan adopted on June 20, 2023.
• Following these transactions, Stephens directly owns 3,468 shares of Class A common stock (including restricted stock units) and indirectly owns 241,880 shares through Management Feeder, LLC.
• Stephens also continues to hold Class B common stock and limited partnership interests.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing simply reports transactions by an insider under a pre-arranged trading plan. There's no indication of positive or negative implications for the company.

Positives

• The transactions were executed under a pre-arranged Rule 10b5-1 trading plan, suggesting they were planned and not based on any inside information.

Industry Context

Form 4 filings are routine disclosures required by the SEC when company insiders trade their company's stock; they provide transparency into insider activity but don't necessarily indicate the company's overall performance or future prospects.

Key Dates