[Form 4] Core & Main, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Profusa, Inc. (PFSA) – Form 3 initial insider statement.

On 07/11/2025 Chief Executive Officer and Director Ben C. Hwang, Ph.D. reported beneficial ownership of the company’s common stock. He directly owns 477,342 shares and indirectly controls 366,886 shares held by his spouse, for a combined stake of 844,228 shares. No derivative securities were listed.

The filing formally establishes Hwang’s Section 16 insider status and indicates meaningful management alignment with shareholders. No transactions or amendments were disclosed, so immediate market impact is expected to be limited.

Insights

Financial Analyst

TL;DR: Routine Form 3—CEO owns 844k PFSA shares; signals insider alignment but little near-term price impact.

This disclosure simply records Ben Hwang’s initial ownership as Profusa prepares for or recently completed a public listing. The aggregate position is sizable for an executive, though its materiality depends on total shares outstanding, which is not provided. Because no purchase or sale occurred, the filing is largely administrative, yet it confirms that leadership has personal capital at risk. Absence of derivative instruments reduces complexity and governance risk. Overall, the news is neutral to modestly positive and unlikely to move the stock on its own.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Castellano James G

(Last) (First) (Middle)

C/O CORE & MAIN, INC.

1830 CRAIG PARK COURT

(Street)

ST. LOUIS MO 63146

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Core & Main, Inc. [ CNM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/18/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	07/18/2025		C(1)		34,674(2)	A	$0	43,994	I(3)	By Trust
Class A Common Stock	07/18/2025		S(4)		43,994	D	$61.9808(5)	0	I(3)	By Trust
Class A Common Stock								4,638	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class B Common Stock and Limited Partnership Interests	(6)(7)	07/18/2025(6)(7)		J	V		34,674(2)	(6)(7)	(6)(7)	Class A Common Stock	34,674	$0	158,946	I(7)	By LLC
Class B Common Stock and Limited Partnership Interests	(6)	07/18/2025(6)		J	V	34,674(2)		(6)	(6)	Class A Common Stock	34,674	$0	34,674	I	By Trust
Class B Common Stock and Limited Partnership Interests	(6)	07/18/2025(6)		C(1)			34,674(1)	(6)	(6)	Class A Common Stock	34,674	$0	0	I	By Trust

Explanation of Responses:

1. On July 18, 2025, pursuant to the terms of an exchange agreement, dated as of July 22, 2021 (as amended, the "Exchange Agreement"), 34,674 shares of Class B common stock of the Issuer ("Class B common stock") and limited partnership interests of Core & Main Holdings, LP (together, a "Paired Interest") were exchanged for shares of Class A common stock of the Issuer ("Class A common stock"), on a one-for-one basis.

2. On July 18, 2025, pursuant to the terms of the Fourth Amended and Restated LLC Agreement of Core & Main Management Feeder, LLC ("Management Feeder"), dated as of February 13, 2024 (as amended, the "LLC Agreement"), 34,674 vested common units ("Units") held indirectly by the reporting person through the James G. Castellano Revocable Trust (the "Trust") were redeemed at the discretion of the Trust for 34,674 Paired Interests.

3. Represents securities held indirectly by the reporting person through the Trust.

4. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Trust on April 18, 2025.

5. The price reported represents the weighted average price of shares of Class A common stock sold in multiple transactions at prices ranging from $61.6550 to $62.1950 per share. The reporting person will provide to the Issuer, or the Securities and Exchange Commission staff, upon request, information regarding the number of shares sold at each price within the range.

6. Pursuant to the terms of the Exchange Agreement, Paired Interests are exchangeable at the discretion of the reporting person for shares of Class A common stock on a one-for-one basis or, at the election of a majority of the disinterested members of the Issuer's board of directors, for cash from a substantially concurrent public offering or private sale (based on the price of Class A common stock sold in such public offering or private sale, net of any underwriting discounts and commissions, for each limited partnership interest exchanged, subject to certain exceptions, conditions and adjustments). The Class B common stock and limited partnership interests have no expiration date.

7. Represents securities held by Management Feeder in respect of Units held indirectly by the reporting person through the Trust and the James G. Castellano 2021 Family Trust (the "2021 Trust"). Pursuant to the LLC Agreement, such vested Units held by the Trust and the 2021 Trust are redeemable at the discretion of the Trust and the 2021 Trust for Paired Interests, on a one-for-one basis.

Remarks:

	/s/ Mark Whittenburg, as Attorney-in-Fact for James G. Castellano	07/21/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many Profusa (PFSA) shares does CEO Ben Hwang own in total?

The Form 3 shows 844,228 common shares beneficially owned.

What portion of Ben Hwang’s PFSA stake is held directly versus indirectly?

He owns 477,342 shares directly and 366,886 shares indirectly through his spouse.

What positions does Ben Hwang hold at Profusa?

He is both Chief Executive Officer and a Director of the company.

Were any derivative securities or options reported in this Form 3?

No; the filing lists no derivative securities owned by the reporting person.

Why was the Form 3 filed on 07/21/2025?

SEC rules require insiders to file an initial ownership statement within 10 days of becoming a Section 16 insider; the event date was 07/11/2025.