Form 4: Vulcan Materials Director David P. Steiner Reports Acquisition of Phantom Stock Units

Director David P. Steiner acquired phantom stock units in Vulcan Materials Company through director's fees credited to his deferred compensation plan.

Summary

• On June 17, 2024, David P. Steiner, a director of Vulcan Materials Company, acquired 295.27 units of phantom stock.
• These units were obtained through director's fees credited to his account under the Vulcan Materials Company Directors' Deferred Compensation Plan.
• The phantom stock is convertible on a 1-for-1 basis into Vulcan Materials Company common stock.
• Settlement of these units will commence upon Steiner's retirement.
• Following this transaction, Steiner directly owns 6,360.406 shares of Vulcan Materials Company common stock.
• A power of attorney is in place, effective since February 10, 2023, allowing Denson N. Franklin III, C. Samuel Todd, and Jennifer L. Commander to file SEC forms on Steiner's behalf.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The transaction reflects standard compensation practices and insider confidence, but it's not a major event.

Positives

• The acquisition of phantom stock units through the deferred compensation plan aligns the director's interests with the long-term performance of the company.
• The director's continued stock ownership demonstrates confidence in the company's future.

Future Outlook

The phantom stock units will be settled in Vulcan Materials Company common stock upon the director's retirement.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company insiders and their alignment with shareholder interests.

Comparison to Industry Standards

• Director deferred compensation plans are a common practice among publicly traded companies, including Vulcan Materials' competitors such as Martin Marietta Materials and Cemex.
• The structure of the deferred compensation plan, with settlement in common stock upon retirement, is similar to plans offered by other companies in the construction materials industry.
• The reporting requirements under Section 16 of the Exchange Act are standard across all publicly traded companies in the United States.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding director compensation and stock ownership.
• The director's stock ownership aligns his interests with those of the shareholders.

Key Dates