Core & Main, Inc. filings document the public-company disclosures of a specialty infrastructure distributor whose Class A common stock trades on the New York Stock Exchange under CNM. Recent 8-K reports cover operating results and investor presentation materials, share repurchase program authorizations, board appointments, executive officer transitions, shareholder voting results and amendments to the ABL Credit Agreement of Core & Main LP.
Proxy materials describe board elections, committee matters, executive compensation and auditor ratification. The filing record also reflects capital-structure disclosures for Class A common stock, governance procedures and financing arrangements tied to the company’s distribution operations.
Morgan Stanley and Morgan Stanley Investment Management Inc. filed Amendment No. 2 to Schedule 13G reporting beneficial ownership in Core & Main, Inc. (CNM). Morgan Stanley reported 12,469,881 shares, representing 6.5% of the Class A common stock as of 09/30/2025. Morgan Stanley Investment Management Inc. reported 10,504,993 shares, representing 5.5%.
For Morgan Stanley: shared voting power was 11,496,472 shares and shared dispositive power was 12,434,330 shares. For Morgan Stanley Investment Management Inc.: shared voting power was 9,601,764 shares and shared dispositive power was 10,504,993 shares. The reporting persons are classified as HC, CO (Morgan Stanley) and IA, CO (Morgan Stanley Investment Management Inc.).
The certification states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.
John W. Stephens, Chief Accounting Officer of Core & Main, Inc. (CNM), reported option exercises and an acquisition of shares on 09/12/2025. He exercised 12,717 stock options at an exercise price of $20.81 per share, resulting in acquisition of 12,717 Class A common shares. After the transaction he beneficially owned 16,837 Class A common shares in total, held directly. The option grant vested in three equal annual installments on March 11, 2023, March 11, 2024 and March 11, 2025.
The Form 4 was signed by an attorney-in-fact on 09/16/2025. No derivative holdings remain following the reported exercises, and the filing indicates a routine insider exercise rather than a sale or disposition.
Core & Main, Inc. reported interim condensed consolidated results covering the six months ended August 3, 2025 and comparable prior periods. The company, a specialty distributor for water, wastewater, storm drainage and fire protection infrastructure, operates approximately 370 branches across 49 U.S. states. Management highlights a $500 million authorized share repurchase program with $277 million available and $47 million spent to repurchase 959,103 Class A shares in the six months ended August 3, 2025. The company completed multiple Fiscal 2024 acquisitions (aggregate transaction values disclosed) that added product capabilities. Debt includes two senior term loans ($1,500m 2028 and $944m 2031 original amounts) and a $1,250m Senior ABL facility; weighted average interest on term loans was 6.27% as of August 3, 2025. Tax receivable agreement payables were $721m, with $41m expected within 12 months. The company was in compliance with debt covenants as of August 3, 2025.
Core & Main, Inc. filed a current report to share information about its fiscal second quarter ended August 3, 2025. The company issued a press release on September 9, 2025 announcing these results and posted an accompanying investor presentation on its website.
The press release is included as Exhibit 99.1 and the investor presentation as Exhibit 99.2, both furnished rather than filed under the Exchange Act. This means they are not automatically subject to certain liability provisions or incorporated into other securities filings unless specifically referenced.
Core & Main, Inc. (CNM) reporting person Carla D. Harper, Senior VP Human Resources, received a grant of 2,091 restricted stock units (RSUs) on 09/03/2025. Each RSU converts to one share of Class A common stock and the grant was recorded at a $0 transaction price. Following the grant, Ms. Harper beneficially owns 11,766 shares. The RSUs vest in three equal annual installments on August 4, 2026, August 4, 2027 and August 4, 2028, subject to the Participant Restricted Stock Unit Agreement. The Form 4 was signed by an attorney-in-fact on 09/05/2025.
Carla D. Harper, Senior Vice President, Human Resources of Core & Main, Inc. (CNM), filed an initial Form 3 reporting ownership of 9,675 shares of Class A common stock, consisting of 889 outright shares and 8,786 restricted stock units (RSUs). Several RSU grants have staged vesting dates between March 2026 and March 2028, with one grant vesting June 23, 2026. Ms. Harper also holds stock options covering 15,804 Class A shares across four option grants with exercise prices of $20.81, $22.11, $50.12, and $46.27; portions of those options remain unvested with scheduled vesting through March 2028.
Core & Main insider Mark R. Witkowski exchanged and sold equity on August 18, 2025. He converted 100,000 Paired Interests (Class B common stock plus limited partnership interests) into 100,000 shares of Class A common stock on a one-for-one basis, then sold 100,000 shares of Class A common stock under a Rule 10b5-1 trading plan at a weighted average price of $64.0821 per share. After these transactions, the reporting person directly beneficially owned 35,847 shares of Class A common stock.
The filing also discloses that 100,000 vested common units held by the reporting person were redeemed for 100,000 Paired Interests under the Management Feeder LLC agreement, and that certain securities are held indirectly by Management Feeder representing 616,250 shares of Class A common stock. The sales were effected pursuant to a 10b5-1 plan adopted April 17, 2025.
Core & Main, Inc. reported that Executive Vice President and named executive officer John R. Schaller has notified the company of his intention to retire effective October 31, 2025. The company states that Mr. Schaller’s responsibilities will be transitioned among existing executives, indicating that leadership duties will be redistributed internally rather than filled through a new external appointment.