4/A: Martin Marietta Materials EVP and CFO Nickolas James AJ Corrects Form 4 Filing Regarding Performance Share Unit Settlement
SEC Filing
Nickolas James AJ, EVP and CFO of Martin Marietta Materials, files an amended Form 4 to correct the reporting of shares awarded upon settlement of performance share units (PSUs).
Summary
- This is an amended Form 4 filing by Nickolas James AJ, the EVP and CFO of Martin Marietta Materials.
- The amendment corrects a previous filing from February 22, 2024, regarding the settlement of performance share units (PSUs).
- The original filing did not include the gross shares awarded upon achievement of performance goals.
- The corrected filing shows the acquisition of 4,474 shares of common stock on February 21, 2024, and a total of 21,891 shares beneficially owned following the transaction.
- The PSUs were granted on February 17, 2021, under the Martin Marietta Amended and Restated Stock Based Award Plan.
- The number of shares received depended on the achievement of performance goals during a three-year period from January 1, 2021, through December 31, 2023.
- On February 20, 2024, the Management Development and Compensation Committee certified the attainment of the performance goals and approved the settlement of the PSU grant.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing. The sentiment is neutral as it corrects a previous error and provides transparency into executive stock ownership.
Industry Context
Form 4 filings are a routine part of executive compensation and provide transparency into the holdings and transactions of company insiders. This amended filing ensures accurate reporting of executive stock ownership.
Stakeholder Impact
- Shareholders benefit from accurate reporting of executive stock ownership.
- The filing provides transparency into executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 02/17/2021 | Date of PSU grant under the Martin Marietta Amended and Restated Stock Based Award Plan |
| 01/01/2021 | Start of the three-year performance period for the PSU grant |
| 12/31/2023 | End of the three-year performance period for the PSU grant |
| 02/20/2024 | Martin Marietta's Management Development and Compensation Committee certified the attainment of the applicable performance goals and approved the settlement of the PSU grant. |
| 02/21/2024 | Date of transaction (acquisition of shares) |
| 02/22/2024 | Date of original Form 4 filing |
| 02/27/2024 | Date of amended Form 4/A filing |
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