Form 4: Core & Main Executive John Stephens Executes Stock Transactions Under 10b5-1 Plan
SEC Form 4 Filing
John Weldon Stephens, Chief Accounting Officer of Core & Main, Inc., reports the exchange and sale of Class A Common Stock and related transactions under a pre-arranged 10b5-1 trading plan.
Summary
- On April 19, 2024, John Weldon Stephens, Chief Accounting Officer of Core & Main, Inc., engaged in transactions involving the company's stock.
- Stephens exchanged 5,503 shares of Class B common stock and limited partnership interests for an equal number of Class A common stock shares.
- He also redeemed 5,503 vested common units for Paired Interests.
- Stephens sold 5,503 shares of Class A common stock at a weighted average price of $54.2303 per share, with prices ranging from $53.5800 to $55.0600.
- These sales were executed under a Rule 10b5-1 trading plan adopted on December 19, 2023.
- Following these transactions, Stephens directly owns 4,281 shares of Class A common stock and indirectly owns 177,509 shares through Management Feeder, LLC.
- He also directly owns 5,503 Class B Common Stock and Limited Partnership Interests.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of stock transactions. It doesn't inherently indicate positive or negative sentiment about the company's future prospects.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. Investors often monitor these filings for insights into management's perspective on the company's stock.
Comparison to Industry Standards
- Monitoring insider transactions is a standard practice in financial analysis.
- Comparable companies also have executives who utilize 10b5-1 trading plans to manage their stock holdings.
- The details of these transactions are typically disclosed through SEC filings like this Form 4.
Key Dates
| Date | Description |
|---|---|
| 2021-07-22 | Date of the Exchange Agreement and the Fourth Amended and Restated LLC Agreement of Core & Main Management Feeder, LLC. |
| 2022-03-11 | Date of RSU grant, vesting on March 11, 2025. |
| 2023-03-10 | Date of RSU grant, vesting in two equal installments on March 10, 2025 and March 10, 2026. |
| 2023-12-19 | Date the reporting person adopted a Rule 10b5-1 trading plan. |
| 2024-03-07 | Date of RSU grant, vesting in three equal installments on March 7, 2025, March 7, 2026 and March 7, 2027. |
| 2024-04-19 | Date of the reported transactions: exchange of Class B common stock for Class A common stock, redemption of common units, and sale of Class A common stock. |
| 2024-04-23 | Date of signature of the Form 4 filing. |
| 2025-03-07 | First vesting date of RSU grant on March 7, 2024. |
| 2025-03-10 | First vesting date of RSU grant on March 10, 2023. |
| 2025-03-11 | Vesting date of RSU grant on March 11, 2022. |
| 2026-03-07 | Second vesting date of RSU grant on March 7, 2024. |
| 2026-03-10 | Second vesting date of RSU grant on March 10, 2023. |
| 2027-03-07 | Third vesting date of RSU grant on March 7, 2024. |
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