Form 4: Vulcan Materials Director David P. Steiner Receives Annual Stock Grant

Director David P. Steiner received 625 restricted stock units of Vulcan Materials Company on May 10, 2024, under the company's 2016 Omnibus Long-Term Incentive Plan.

Summary

• On May 10, 2024, David P. Steiner, a director of Vulcan Materials Company, was granted 625 restricted stock units (RSUs) under the company's 2016 Omnibus Long-Term Incentive Plan.
• These RSUs represent a contingent right to receive one share of Vulcan Common Stock per unit.
• The RSUs cliff vest on May 10, 2025.
• Vested RSUs will be delivered to Steiner when he ceases to be a member of the Board of Directors, according to the plan's terms and Steiner's prior instructions.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. It reflects a standard executive compensation practice, indicating stability and alignment of interests.

Positives

• The grant of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting schedule encourages continued service on the board.

Future Outlook

The restricted stock units will vest on May 10, 2025, contingent on continued service.

Industry Context

Stock grants are a common form of executive compensation in publicly traded companies, aligning management's interests with those of shareholders.

Comparison to Industry Standards

• Vulcan Materials' executive compensation practices, including stock grants, are likely benchmarked against those of its peers in the construction materials industry, such as Martin Marietta Materials, Summit Materials, and CRH.
• The size and vesting schedule of the grant would be compared to similar grants made to directors at these companies to ensure competitiveness and alignment with performance.

Stakeholder Impact

• The stock grant aligns the director's interests with those of shareholders, potentially leading to decisions that benefit the company's long-term value.
• Employees may view the grant as a positive sign of the company's commitment to its leadership.

Next Steps

• The director will hold the restricted stock units until they vest on May 10, 2025.
• Upon vesting, the director will receive shares of Vulcan Common Stock, subject to the terms of the 2016 Omnibus Long-Term Incentive Plan.
• The shares will be delivered when the reporting person ceases to hold office as a member of the Board of Directors of Vulcan Materials Company.

Key Dates