Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-09-10

Core & Main (CNM)

CEO Mark Witkowski was paid $9,327,106 in fiscal year 2025, ↑ up 409.4% from fiscal year 2024, the 71st percentile of its disclosed peer group (SEC filing 0001856525-26-000046 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$9,327,106 ↑
Mark Witkowski total, FY2025
71st
CEO pay percentile vs peers
121:1
CEO-to-median pay ratio
90.32%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Mark Witkowski (Chief Executive Officer), FY2025 total compensation $9,327,106 (base salary $786,539) [exec_comp, SEC accession 0001856525-26-000046, filed 2026-05-07]

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CNM's next annual pay disclosure, estimated May 1, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Mark Witkowski$786,539$0$5,825,167$2,474,832$194,520$0$46,048$9,327,106
Chief Executive Officer
Bradford Cowles551,15403,035,162854,90880,637037,9174,559,778
President
Michael Huebert468,27002,457,976623,40567,198030,3213,647,170
President
Robyn Bradbury469,23102,437,683562,56670,734029,9653,570,179
Chief Financial Officer
Mark Whittenburg499,61601,657,852473,41771,442033,0612,735,388
Former General Counsel and Secretary
Stephen LeClair935,000000238,092037,3411,210,433
Former Executive Chair and Former Chief Executive Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Mark Witkowski$9,327,106$1,830,886$1,937,107↑ +7,496,220
Bradford Cowles4,559,7781,469,1421,503,196↑ +3,090,636
Michael Huebert3,647,1702,093,301—↑ +1,553,869
Robyn Bradbury3,570,179———
Mark Whittenburg2,735,3881,190,8951,363,344↑ +1,544,493
Stephen LeClair1,210,4335,374,4705,546,122↓ −4,164,037

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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Companies that benchmark against CNM
4 companies name CNM as a compensation peer

Each company listed discloses CNM in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named CNM in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
Bradford CowlesPresident$4,559,778
Mark WhittenburgGeneral Counsel$2,735,388
Mark WitkowskiCEO$9,327,106
Robyn BradburyCFO$3,570,179
Michael HuebertPresident$3,647,170
Stephen LeClairExecutive$1,210,433
02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Stephen LeClairPSU18,657—$1,053,001
Bradford CowlesOption17,75820.81—
Mark WitkowskiOption36,72650.12—
Bradford CowlesPSU3,744—211,311
Stephen LeClairPSU25,300—1,427,932
Michael HuebertPSU12,836—724,464
Stephen LeClairPSU11,914—672,426
Mark WitkowskiPSU6,446—363,812
Bradford CowlesPSU4,920—277,685
Mark WitkowskiPSU4,677—263,970
Mark WitkowskiPSU3,184—179,705
Stephen LeClairOption208,20622.11—
Bradford CowlesPSU2,433—137,319
Stephen LeClairOption146,50850.12—
Stephen LeClairOption86,95920.81—
Mark WitkowskiOption53,04022.11—
Mark WitkowskiOption23,23820.81—
Bradford CowlesOption29,38250.12—
Bradford CowlesOption40,47822.11—
Michael HuebertOption50,51652.11—
05

Incentive-plan design — the Compensation Discussion & Analysis

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantPearl Meyer & Partners, LLC
Clawback policytrue
Anti-hedging—
Anti-pledging—
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-23162,417,52417,410,2583,551,13890.32%Passed
20252025-06-24169,863,33012,402,4387,247,76993.2%Passed
20242024-06-26160,729,83719,443,7177,198,32289.21%Passed
20232023-06-28213,673,8589,213,45676,40295.87%Passed
20222022-07-19239,145,4711,696,72396,12499.3%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-06-2390.32%a
20252025-06-2493.2%b
20242024-06-2689.21%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Voting standard not stated in the filing.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)121 : 1
CEO total compensation—
Median employee compensation$77,600
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Kathleen M. MazzarellaIndependent · Nominating/Governance (Chair)$106,626$120,000$0$0$0$226,626
Orvin T. KimbroughIndependent · Nominating/Governance · Audit106,289120,000000226,289
Robert M. BuckIndependent · Compensation · Nominating/Governance104,892120,000000224,892
Dennis G. GipsonIndependent · Compensation · Nominating/Governance104,426120,000000224,426
James D. HopeIndependent · Audit60,041138,000000198,041
Stephen O. LeClairEmployee director · Board Chair—————0
Mark R. WitkowskiEmployee director · Newly elected—————0
09

Board fee structure and ownership guideline

Annual cash retainer$95,000
Annual equity retainer$130,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)25,000 / 20,000 / 15,000
Stock ownership guideline$475,000
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$482,274
Equity awards (grant-date value)$618,000
All other compensation$0
Total cost of the board$1,100,274

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Core & Main names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Core & Main.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1WESCO International, Inc.2025John Engel$1,412,165$7,112,936$2,275,029$1,362,550$12,308,746
2W.W. Grainger, Inc.2025D.G. Macpherson1,176,3708,451,81901,653,07511,609,508
3Core & Main2025Mark Witkowski786,5395,825,1672,474,832194,5209,327,106
4Builders FirstSource, Inc.2025Peter Jackson1,000,0006,573,0620549,7628,133,324
5Applied Industrial Technologies, Inc.2026Neil Schrimsher1,025,0003,718,0601,387,9721,334,3457,699,136
6Installed Building Products, Inc.2025Jeffrey Edwards900,0004,950,13201,209,0007,096,835
7Pool Corporation2025Peter Arvan900,0004,624,9420912,4236,514,002
8SiteOne Landscape Supply, Inc.2025Doug Black970,6734,199,8640984,9306,177,856
9Beacon Roofing Supply, Inc.2023Julian Francis929,8082,743,130914,3821,537,9566,154,945
10MSC Industrial Direct, Inc.2025Erik Gershwind871,4113,549,96601,425,7505,873,837
11GMS Inc.2024John Turner Jr.865,0001,650,0131,650,030977,6065,165,943
12Fastenal Company2025Daniel Florness750,0000861,3872,569,0004,183,328
13Hillman Solutions Corp.2025Jon Michael Adinolfi692,3082,000,00001,004,5003,716,231
—TopBuild Corp——————not in coverage universe
—Watsco, Inc.——————not in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Core & Mainnot disclosedOption 75 · RSU 25not disclosedPearl Meyer & Partners, LLC
Applied Industrial Technologies, Inc.not disclosedPSU 50 · Options 25 · RSU 25NoPay Governance
Beacon Roofing Supply, Inc.141%PSU 50 · RSU 25 · Options 25NoFrederic W. Cook & Co., Inc.
Builders FirstSource, Inc.36.7%not disclosedNoMeridian
Fastenal Company342%Options 100not disclosednot disclosed
GMS Inc.not disclosedRSU 50 · Option 50not disclosedMeridian
Hillman Solutions Corp.not disclosednot disclosednot disclosedPearl Meyer
Installed Building Products, Inc.not disclosednot disclosednot disclosedMeridian Compensation Partners, LLC
MSC Industrial Direct, Inc.95%PSU 50 · RSU 50NoFW Cook
Pool Corporationnot disclosedRSU 50 · PRSU 50not disclosedMeridian Compensation Partners
SiteOne Landscape Supply, Inc.not disclosedRSU 50 · PSU 50not disclosedFW Cook
TopBuild Corpnot disclosednot disclosednot disclosednot disclosed
W.W. Grainger, Inc.93%PSU 60 · RSU 40NoPay Governance, LLC
Watsco, Inc.not disclosednot disclosednot disclosednot disclosed
WESCO International, Inc.not disclosednot disclosedYes — Relative Total Stockholder Return (TSR) ModifierMeridian Compensation Partners, LLC

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

10d

Frequently asked questions

Who was the highest-paid executive at Core & Main in fiscal 2025?
As disclosed, Mark Witkowski (Chief Executive Officer) was the highest-paid executive at Core & Main in fiscal 2025, with total compensation of $9,327,106.
How does Core & Main's chief executive pay compare to its disclosed peer group?
As disclosed, Mark Witkowski's total compensation ranked at the 71st percentile of Core & Main's disclosed peer group.
What is Core & Main's CEO-to-median employee pay ratio?
As disclosed, Core & Main's CEO-to-median employee pay ratio was 121:1.
How did shareholders vote on Core & Main's executive compensation?
As disclosed, 90.32% of shareholders supported Core & Main's executive compensation in the latest say-on-pay vote.
How much does Core & Main spend in total on board compensation for fiscal 2025?
As disclosed, Core & Main reported total board compensation of $1,100,274 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Mark WitkowskiDEF 14A2026-05-070001856525-26-000046Section “Executive Compensation”. As printed: 9,327,106. Filing ↗machine: r2 · c42 · span 701631–701640
2Section 01, Bradford CowlesDEF 14A2026-05-070001856525-26-000046Section “Executive Compensation”. As printed: 4,559,778. Filing ↗machine: r9 · c42 · span 734383–734392
3Section 01, Michael HuebertDEF 14A2026-05-070001856525-26-000046Section “Executive Compensation”. As printed: 3,647,170. Filing ↗machine: r12 · c42 · span 748060–748069
4Section 01, Robyn BradburyDEF 14A2026-05-070001856525-26-000046Section “Executive Compensation”. As printed: 3,570,179. Filing ↗machine: r5 · c42 · span 715225–715234
5Section 01, Mark WhittenburgDEF 14A2026-05-070001856525-26-000046Section “Executive Compensation”. As printed: 2,735,388. Filing ↗machine: r14 · c42 · span 757669–757678
6Section 01, Stephen LeClairDEF 14A2026-05-070001856525-26-000046Section “Executive Compensation”. As printed: 1,210,433. Filing ↗machine: r6 · c42 · span 720701–720710
7Section 07, pay ratioDEF 14A2026-05-070001856525-26-000046Section “CEO Pay Ratio”. As printed: 121 : 1. Filing ↗machine: span 82022–82025
8Section 08, Kathleen M. MazzarellaDEF 14A2025-05-130001856525-25-000105Section “Director Compensation”. As printed: 226,626. Filing ↗
9Section 08, Orvin T. KimbroughDEF 14A2025-05-130001856525-25-000105Section “Director Compensation”. As printed: 226,289. Filing ↗
10Section 08, Robert M. BuckDEF 14A2025-05-130001856525-25-000105Section “Director Compensation”. As printed: 224,892. Filing ↗
11Section 08, Dennis G. GipsonDEF 14A2025-05-130001856525-25-000105Section “Director Compensation”. As printed: 224,426. Filing ↗
12Section 08, James D. HopeDEF 14A2025-05-130001856525-25-000105Section “Director Compensation”. As printed: 198,041. Filing ↗
13Section 08, Stephen O. LeClairDEF 14A2025-05-130001856525-25-000105Section “Director Compensation”. As printed: 0. Filing ↗
14Section 08, Mark R. WitkowskiDEF 14A2025-05-130001856525-25-000105Section “Director Compensation”. As printed: 0. Filing ↗
15Section 06, 2026 voteForm 8-K2026-06-230001856525-26-000059Item 5.07 · say-on-pay result. As reported: 90.32% (votes for as printed: 162,417,524). Filing ↗
16Section 06, 2025 voteForm 8-K2025-06-240001856525-25-000124Item 5.07 · say-on-pay result. As reported: 93.2% (votes for as printed: 169,863,330). Filing ↗
17Section 06, 2024 voteForm 8-K2024-06-270001856525-24-000076Item 5.07 · say-on-pay result. As reported: 89.21% (votes for as printed: 160,729,837). Filing ↗
18Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
19Section 09b board cost (computed)Computed——Cash 482,274 + equity 618,000 + all other 0 = 1,100,274, summed across the director compensation table rows.machine: formula: Σ = 1,100,274
20WESCO International, Inc., Section 10b CEO totalDEF 14A2026-04-170001193125-26-159688CEO total compensation as printed in WESCO International, Inc.'s own proxy. As printed: 12,308,746. Filing ↗machine: span 2182235–2182245
21W.W. Grainger, Inc., Section 10b CEO totalDEF 14A2026-03-100001104659-26-025575CEO total compensation as printed in W.W. Grainger, Inc.'s own proxy. As printed: 11,609,508. Filing ↗machine: r1 · c32 · span 1578498–1578509
22Core & Main (subject), Section 10b CEO totalDEF 14A2026-05-070001856525-26-000046CEO total compensation as printed in Core & Main's own proxy. As printed: 9,327,106. Filing ↗machine: r2 · c42 · span 701631–701640
23Builders FirstSource, Inc., Section 10b CEO totalDEF 14A2026-04-020001193125-26-140509CEO total compensation as printed in Builders FirstSource, Inc.'s own proxy. As printed: 8,133,324. Filing ↗machine: span 2406984–2406993
24Applied Industrial Technologies, Inc., Section 10b CEO totalDEF 14A2026-09-100001193125-26-387870CEO total compensation as printed in Applied Industrial Technologies, Inc.'s own proxy. As printed: 7,699,136. Filing ↗machine: r3 · c31 · span 710791–710800
25Installed Building Products, Inc., Section 10b CEO totalDEF 14A2026-04-080001580905-26-000022CEO total compensation as printed in Installed Building Products, Inc.'s own proxy. As printed: 7,096,835. Filing ↗machine: r3 · c36 · span 1222902–1222911
26Pool Corporation, Section 10b CEO totalDEF 14A2026-03-260000945841-26-000077CEO total compensation as printed in Pool Corporation's own proxy. As printed: 6,514,002. Filing ↗machine: span 549346–549355
27SiteOne Landscape Supply, Inc., Section 10b CEO totalDEF 14A2026-04-020001104659-26-038879CEO total compensation as printed in SiteOne Landscape Supply, Inc.'s own proxy. As printed: 6,177,856. Filing ↗machine: r1 · c41 · span 814296–814305
28Beacon Roofing Supply, Inc., Section 10b CEO totalDEF 14A2024-04-030001193125-24-086050CEO total compensation as printed in Beacon Roofing Supply, Inc.'s own proxy. As printed: 6,154,945. Filing ↗machine: t151 · r5 · c29 · span 808456–808465
29MSC Industrial Direct, Inc., Section 10b CEO totalDEF 14A2025-12-110001003078-25-000174CEO total compensation as printed in MSC Industrial Direct, Inc.'s own proxy. As printed: 5,873,837. Filing ↗machine: t26 · r2 · c16 · span 209861–209870
30GMS Inc., Section 10b CEO totalDEF 14A2024-08-270001628280-24-038533CEO total compensation as printed in GMS Inc.'s own proxy. As printed: 5,165,943. Filing ↗machine: span 567756–567765
31Fastenal Company, Section 10b CEO totalDEF 14A2026-02-250000815556-26-000017CEO total compensation as printed in Fastenal Company's own proxy. As printed: 4,183,328. Filing ↗machine: span 487146–487155
32Hillman Solutions Corp., Section 10b CEO totalDEF 14A2026-04-220001822492-26-000056CEO total compensation as printed in Hillman Solutions Corp.'s own proxy. As printed: 3,716,231. Filing ↗machine: r3 · c24 · span 603588–603597
33Section 10a, WESCO International, Inc. reciprocityDEF 14A—0001193125-26-159688WESCO International, Inc.'s most recent proxy was read; its disclosed peer group does not include Core & Main. Filing ↗
34Section 10a, SiteOne Landscape Supply, Inc. reciprocityDEF 14A—0001104659-26-038879SiteOne Landscape Supply, Inc. names Core & Main in its own disclosed peer group (read from its most recent proxy). Filing ↗
35Section 10a, Builders FirstSource, Inc. reciprocityDEF 14A—0001193125-26-140509Builders FirstSource, Inc.'s most recent proxy was read; its disclosed peer group does not include Core & Main. Filing ↗
36Section 10a, Installed Building Products, Inc. reciprocityDEF 14A—0001580905-26-000022Installed Building Products, Inc.'s most recent proxy was read; its disclosed peer group does not include Core & Main. Filing ↗
37Section 10a, Pool Corporation reciprocityDEF 14A—0000945841-26-000077Pool Corporation names Core & Main in its own disclosed peer group (read from its most recent proxy). Filing ↗
38Section 10a, Fastenal Company reciprocityDEF 14A—0000815556-26-000017Fastenal Company's most recent proxy was read; its disclosed peer group does not include Core & Main. Filing ↗
39Section 10a, W.W. Grainger, Inc. reciprocityDEF 14A—0001104659-26-025575W.W. Grainger, Inc.'s most recent proxy was read; its disclosed peer group does not include Core & Main. Filing ↗
40Section 10a, Applied Industrial Technologies, Inc. reciprocityDEF 14A—0001193125-26-387870Applied Industrial Technologies, Inc.'s most recent proxy was read; its disclosed peer group does not include Core & Main. Filing ↗
41Section 10a, GMS Inc. reciprocityDEF 14A—0001628280-24-038533GMS Inc. names Core & Main in its own disclosed peer group (read from its most recent proxy). Filing ↗
42Section 10a, Beacon Roofing Supply, Inc. reciprocityDEF 14A—0001193125-24-086050Beacon Roofing Supply, Inc.'s most recent proxy was read; its disclosed peer group does not include Core & Main. Filing ↗
43Section 10a, MSC Industrial Direct, Inc. reciprocityDEF 14A—0001003078-25-000174MSC Industrial Direct, Inc.'s most recent proxy was read; its disclosed peer group does not include Core & Main. Filing ↗
44Section 10a, Hillman Solutions Corp. reciprocityDEF 14A—0001822492-26-000056Hillman Solutions Corp.'s most recent proxy was read; its disclosed peer group does not include Core & Main. Filing ↗