Form 4: Core & Main Executive Jeffrey D. Giles Reports Stock and Options Grants

Jeffrey D. Giles, VP at Core & Main, reports the acquisition of restricted stock units and options, as well as adjustments to existing holdings.

Summary

• Jeffrey D. Giles, a VP at Core & Main, filed a Form 4 detailing changes in beneficial ownership.
• On March 7, 2024, Giles acquired 2,046 Class A Common Stock as restricted stock units (RSUs) that vest in three equal annual installments starting March 7, 2025.
• He also acquired 4,091 Class A Common Stock as RSUs vesting on March 7, 2027.
• Giles was granted options to buy 16,062 shares of Class A Common Stock at an exercise price of $50.12, vesting in three equal installments starting March 7, 2025, and expiring on March 7, 2034.
• Following these transactions, Giles directly owns 14,354 shares of Class A Common Stock and indirectly owns shares through Core & Main Management Feeder, LLC.
• He also directly owns options for 16,062 shares.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock and option grants. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about executive compensation.

Positives

• The grant of RSUs and options to a key executive suggests the company is incentivizing long-term performance and alignment with shareholder interests.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's prospects.

Stakeholder Impact

• The grants of RSUs and options align executive interests with those of shareholders, potentially driving long-term value creation.

Key Dates