Bradbury Robyn L 4

What Happened

• Robyn L. Bradbury, Chief Financial Officer of Core & Main (CNM), converted vested limited‑partner units and Paired Interests into 5,000 Class A shares and then sold those 5,000 shares on April 17, 2026. The sales were executed in two tranches: 1,647 shares sold at a weighted average of $51.94 for $85,546, and 3,353 shares sold at a weighted average of $52.84 for $177,178, for a total proceeds of approximately $262,724. The conversions and redemptions that produced the Class A shares were recorded at no cash cost to the reporting person (one‑for‑one exchanges per the agreements described in the filing).

Key Details

• Transaction date: April 17, 2026.
• Sales: 1,647 shares @ $51.94 (≈ $85,546) and 3,353 shares @ $52.84 (≈ $177,178); total ≈ $262,724.
• Price ranges reported: $51.49–$52.47 and $52.49–$53.22 (weighted averages reported; filing notes per‑price breakdown available on request).
• Conversion/acquisition: 5,000 Paired Interests/Class B common stock exchanged for 5,000 Class A shares (one‑for‑one) and 5,000 vested Units redeemed for Paired Interests (no cash payment on conversion).
• Plan/authorization: Sales were effected pursuant to a Rule 10b5‑1 trading plan adopted Jan 16, 2026 (per footnote).
• Shares owned after transaction: not specified in the filing.
• Filing: Form 4 filed Apr 21, 2026 reporting the Apr 17 transactions; no late‑filing flag specified in the filing.

Context

• The filing combines derivative redemptions/conversions (units → Paired Interests → Class A shares) followed by open‑market sales. Conversions were recorded at $0 because they reflect contractual one‑for‑one exchanges, not cash purchases. The sales were pre‑arranged under a 10b5‑1 plan, a common mechanism insiders use to sell shares according to a preset schedule and avoid questions about trading on inside information. Purchases (bullish signals) are typically more informative than routine sales; this filing documents a routine disposition following conversion of vested interests.