Form 4: Core & Main Executive Granted Stock Options and Restricted Stock Units

Mark Whittenburg, General Counsel and Secretary of Core & Main, Inc., received stock options and restricted stock units (RSUs) on March 13, 2025.

Summary

• Mark Whittenburg, General Counsel and Secretary of Core & Main, Inc., filed a Form 4 on March 17, 2025.
• On March 13, 2025, Whittenburg was granted 24,828 options to buy Class A Common Stock at an exercise price of $46.27.
• These options vest in three equal annual installments starting March 11, 2026, and expire on March 13, 2035.
• Whittenburg also received 3,411 restricted stock units (RSUs), each representing a contingent right to receive one share of Class A common stock.
• These RSUs vest in three equal annual installments starting March 11, 2026.
• Following these transactions, Whittenburg directly owns 9,691 shares of Class A Common Stock and 24,828 derivative securities (options).

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating a positive alignment of interests between management and shareholders. It's a routine filing, so the sentiment is moderately positive.

Positives

• The grant of stock options and RSUs aligns the executive's interests with those of the shareholders, incentivizing performance and long-term value creation.

Future Outlook

The vesting schedule of the options and RSUs extends to March 2028, suggesting a long-term incentive structure for the executive.

Industry Context

Stock option and RSU grants are a common practice in corporate compensation to align executive interests with shareholder value. The vesting schedule is typical for such grants.

Comparison to Industry Standards

• Stock option grants are a standard component of executive compensation packages in publicly traded companies, particularly in the US.
• Vesting schedules of three years are common, aligning with industry norms for incentivizing long-term performance.
• The size of the grant would typically be benchmarked against peer companies of similar size and industry within the distribution sector.

Stakeholder Impact

• Shareholders may view the equity grants positively as they incentivize management to improve company performance and increase shareholder value.
• Employees may see this as a positive sign of the company's commitment to its leadership.

Key Dates