Form 4: Martin Marietta Materials SVP Settles Performance Share Units, Disposes of Shares for Tax Obligations

Oliver W. Brooks, SVP at Martin Marietta Materials, settled performance share units and disposed of shares to cover tax obligations on February 18, 2025.

Summary

• On February 18, 2025, Oliver W. Brooks, SVP of Enterprise Excellence at Martin Marietta Materials Inc., settled performance share units (PSUs) into common stock.
• This settlement was related to a grant from February 18, 2022, under the company's Amended and Restated Stock Based Award Plan.
• The number of shares received depended on the achievement of performance goals between January 1, 2022, and December 31, 2024.
• The Management Development and Compensation Committee certified the attainment of these goals on February 18, 2025, approving the PSU settlement.
• Brooks acquired 215 shares at $0 upon settlement of the PSUs.
• Concurrently, Brooks disposed of 134 shares at $533.99 to satisfy tax obligations.
• Following these transactions, Brooks directly owns 4,622 shares of Martin Marietta Materials Inc.
• A Power of Attorney was executed on January 29, 2025, granting Bradley D. Kohn and Sara W. Brown the authority to file SEC forms on Brooks' behalf.

Sentiment

Score: 7

Explanation: The document reflects routine executive compensation activity. The sentiment is neutral to slightly positive as it indicates the executive is incentivized by company performance.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they involve a small number of shares relative to the company's total outstanding shares.

Key Dates

Keywords

Form 4, Martin Marietta Materials, MLM, Oliver W. Brooks, Performance Share Units, PSU, Stock Based Award Plan, Section 16, Beneficial Ownership, Power of Attorney