4/A: Martin Marietta Materials CEO Howard Nye Amends SEC Filing to Include Gross Shares Awarded from Performance Share Units
SEC Form 4/A Amendment
Howard Nye, Chairman, President, and CEO of Martin Marietta Materials, amends a previous SEC Form 4 filing to include the gross shares awarded upon achievement of performance goals related to performance share units.
Summary
- This is an amendment to a previous SEC Form 4 filing by Howard Nye, Chairman, President, and CEO of Martin Marietta Materials.
- The amendment clarifies the number of shares received upon the settlement of performance share units (PSUs) granted under the Martin Marietta Amended and Restated Stock Based Award Plan on February 17, 2021.
- The original filing on February 22, 2024, reported the shares reflecting the amount of taxes withheld in connection with the settlement of these PSUs.
- The amended filing includes the gross shares awarded upon achievement of the performance goals, which were not included in the original filing.
- The performance goals were based on a three-year performance period from January 1, 2021, through December 31, 2023.
- Martin Marietta's Management Development and Compensation Committee certified the attainment of the applicable performance goals and approved the settlement of the PSU grant on February 20, 2024.
- As a result of the transaction, Nye directly owns 140,870 shares of common stock and indirectly owns 75,400 shares through the Charles Howard Nye Irrevocable Trust.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. It's a routine filing related to executive compensation, indicating that performance goals were met, which is generally a positive sign. However, it's primarily an informational document.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the equity-based compensation of Martin Marietta's CEO.
Stakeholder Impact
- Shareholders gain transparency into executive compensation.
- Employees may be interested in the performance goals and how they relate to company performance.
- The filing has minimal impact on customers, suppliers, and creditors.
Key Dates
| Date | Description |
|---|---|
| 02/17/2021 | Date of the grant of performance share units under the Martin Marietta Amended and Restated Stock Based Award Plan. |
| 01/01/2021 | Start date of the three-year performance period for the performance share units. |
| 12/31/2023 | End date of the three-year performance period for the performance share units. |
| 02/20/2024 | Date the Management Development and Compensation Committee certified the attainment of performance goals and approved the settlement of the PSU grant. |
| 02/21/2024 | Date of the transaction involving the acquisition of 28,164 shares of common stock. |
| 02/22/2024 | Date of the original Form 4 filing. |
| 02/27/2024 | Date of the amended Form 4/A filing. |
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