VMC.NYSEVulcan Materials CO

Form 4: Vulcan Materials Director Kathleen L. Quirk Receives Annual Stock Grant

Sentiment:

SEC Form 4 Filing

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Director Kathleen L. Quirk received 625 restricted stock units (RSUs) of Vulcan Materials Company as part of an annual stock grant.

Summary

  • Kathleen L. Quirk, a director of Vulcan Materials Company, received 625 restricted stock units on May 10, 2024.
  • The grant was made under the Vulcan Materials Company 2016 Omnibus Long-Term Incentive Plan.
  • Each RSU represents a contingent right to receive one share of Vulcan Common Stock.
  • The RSUs cliff vest on May 10, 2025.
  • Vested RSUs will be delivered to Quirk when she ceases to be a member of the Board of Directors.
  • A power of attorney is in place, authorizing Denson N. Franklin III, C. Samuel Todd, and Jennifer L. Commander to prepare and sign SEC filings on Quirk's behalf.

Sentiment

Score: 7

Explanation: The document reflects a routine executive compensation event, which is generally viewed neutrally to positively as it aligns management and shareholder interests.

Positives

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

Future Outlook

Vested Restricted Stock Units will be delivered to the reporting person when the reporting person ceases to hold office as a member of the Board of Directors of Vulcan Materials Company.

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

  • Stock grants are a typical component of executive compensation packages in the materials industry, similar to companies like Martin Marietta Materials and Cemex.
  • The vesting schedule of one year is relatively standard for RSU grants.

Stakeholder Impact

  • Shareholders may view the stock grant positively as it incentivizes the director to act in their best interests.
  • The grant has no immediate impact on employees, customers, suppliers, or creditors.

Key Dates

DateDescription
February 10, 2023Date of Power of Attorney execution.
May 10, 2024Date of the restricted stock unit grant.
May 10, 2025Vesting date of the restricted stock units.

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