Core & Main (CNM) director receives 2,799 restricted stock units in equity grant
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Kimbrough Orvin T reported acquisition or exercise transactions in this Form 4 filing.
Core & Main, Inc. director Kimbrough Orvin T reported a compensation-related equity grant. He received 2,799 restricted stock units of Class A common stock as director compensation at a price of $0.00 per unit. These units vest upon the earlier of the one-year anniversary of the grant date or the company’s next annual meeting of shareholders to be held in 2027, and will be settled in Class A common shares, subject to his continued board service. After this award, he holds 16,757 Class A shares directly and 3 Class A shares indirectly through Core & Main Management Feeder, LLC, tied to redeemable units exchangeable one-for-one into Class A stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Kimbrough Orvin T
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock | 2,799 | $0.00 | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 16,757 shares (Direct, null);
Class A Common Stock — 3 shares (Indirect, By LLC)
Footnotes (1)
- Represents restricted stock units granted as director compensation. The restricted stock units will vest upon the earlier to occur of the one year anniversary of the grant date or the Issuer's next annual meeting of shareholders to be held in 2027 and be settled in shares of Class A common stock, subject to the reporting person's continued service as a director of the Issuer. Represents securities held by Core & Main Management Feeder, LLC ("Management Feeder") in respect of common units ("Units") of Management Feeder held directly by the reporting person. Pursuant to the Fourth Amended and Restated LLC Agreement of Management Feeder, dated as of February 13, 2024, such vested Units held by the reporting person are redeemable at the discretion of the reporting person for shares of Class A common stock, on a one-for-one basis.
Key Figures
RSU grant size: 2,799 units
Grant price: $0.00 per unit
Direct Class A holdings after grant: 16,757 shares
+2 more
5 metrics
RSU grant size
2,799 units
Restricted stock units granted as director compensation
Grant price
$0.00 per unit
Restricted stock unit grant price
Direct Class A holdings after grant
16,757 shares
Total direct Class A common stock after award
Indirect Class A holdings
3 shares
Indirectly held through Core & Main Management Feeder, LLC
Vesting outside date
2027
Vesting by next annual meeting of shareholders to be held in 2027
Key Terms
restricted stock units, director compensation, annual meeting of shareholders, LLC Agreement, +1 more
5 terms
restricted stock units financial
"Represents restricted stock units granted as director compensation."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
director compensation financial
"Represents restricted stock units granted as director compensation."
LLC Agreement financial
"Pursuant to the Fourth Amended and Restated LLC Agreement of Management Feeder"
redeemable financial
"such vested Units held by the reporting person are redeemable at the discretion of the reporting person"
FAQ
What insider transaction did CNM director Kimbrough Orvin T report?
Kimbrough Orvin T reported receiving 2,799 restricted stock units of Core & Main Class A common stock as director compensation, priced at $0.00 per unit. This is a grant or award, not an open-market purchase or sale, and reflects routine equity-based board compensation.
When do the new CNM restricted stock units for Kimbrough Orvin T vest?
The 2,799 restricted stock units vest at the earlier of the one-year anniversary of the grant date or Core & Main’s next annual shareholder meeting scheduled in 2027. Vesting and settlement into Class A common shares depend on his continued service as a director.
What is the nature of the CNM restricted stock units granted to Kimbrough Orvin T?
The 2,799 units are restricted stock units granted as director compensation, with a grant price of $0.00 per unit. They will be settled in Core & Main Class A common stock after vesting, providing equity exposure conditioned on continued board service through the vesting date.
What does Kimbrough Orvin T’s indirect CNM holding through Management Feeder represent?
His indirect position represents securities held by Core & Main Management Feeder, LLC in respect of common units of that entity he holds. Under the LLC agreement, his vested units are redeemable at his discretion for Core & Main Class A shares on a one-for-one basis.