Form 4: Core & Main Executive Mark Whittenburg Executes Stock Transactions
SEC Form 4 Filing
Core & Main's General Counsel and Secretary, Mark Whittenburg, reports the exchange and sale of company stock and partnership interests, according to a Form 4 filing.
Summary
- Mark Whittenburg, General Counsel and Secretary of Core & Main, Inc., filed a Form 4 detailing changes in beneficial ownership.
- On April 19, 2024, Whittenburg exchanged 50,000 shares of Class B common stock and limited partnership interests for 50,000 shares of Class A common stock.
- Simultaneously, 50,000 vested common units held by Whittenburg were redeemed for 50,000 Paired Interests.
- Whittenburg also sold 50,000 shares of Class A common stock at a weighted average price of $54.0834 per share.
- Following these transactions, Whittenburg directly owns 12,933 shares of Class A common stock (in the form of restricted stock units) and indirectly owns 399,264 shares through Management Feeder, LLC, as well as 50,000 shares of Class B common stock and limited partnership interests.
- The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 19, 2023.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports transactions by an insider under a pre-existing trading plan. There's no inherent positive or negative signal.
Industry Context
Form 4 filings are a routine part of the regulatory landscape, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
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 that vests on March 11, 2025. |
| 2023-03-10 | Date of RSU grant that vests in two equal installments on March 10, 2025 and March 10, 2026. |
| 2023-12-19 | Date the Rule 10b5-1 trading plan was adopted. |
| 2024-03-07 | Date of RSU grant that vests in three equal installments on March 7, 2025, March 7, 2026 and March 7, 2027. |
| 2024-04-19 | Date of the stock exchange, unit redemption, and stock sale transactions. |
| 2024-04-23 | Date of Form 4 filing. |
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