Form 4: Vulcan Materials SVP Exercises, Sells Shares

Vulcan Materials Senior Vice President David P. Clement exercised stock appreciation rights and subsequently sold shares for tax obligations and personal liquidity.

Summary

• David P. Clement, Senior Vice President of Vulcan Materials CO (VMC), reported transactions involving the company's common stock.
• On September 11, 2025, Mr. Clement exercised 1,900 Stock Appreciation Rights (SARs) at an exercise price of $121.69 per share, acquiring 1,900 shares of common stock.
• Concurrently on September 11, 2025, 1,202 shares were disposed of at a price of $294.43 per share to cover tax withholding obligations related to the SAR exercise.
• On September 12, 2025, an additional 698 shares were sold at a price of $298.56 per share.
• Following these transactions, Mr. Clement directly beneficially owns 2,832 shares of common stock and indirectly owns 957.498 shares through a 401k plan.
• The Stock-Only Stock Appreciation Rights vested in equal annual installments beginning February 23, 2019, and have an expiration date of February 23, 2028.

Sentiment

Score: 5

Explanation: The filing reports routine insider transactions involving the exercise of stock appreciation rights and subsequent sales for tax and personal reasons. This is a neutral event, common for executives with equity compensation, and does not reflect on the company's operational performance or future prospects.

Positives

• The exercise of Stock Appreciation Rights by a Senior Vice President indicates the monetization of vested equity compensation, which is a standard practice for executives.

Negatives

• The net effect of the transactions was a disposition of shares (after accounting for the exercise and subsequent sales for tax and personal reasons), which can sometimes be perceived as a lack of confidence, though in this case, it appears to be a routine event related to equity compensation.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: The sale of shares by a Senior Vice President, while routine, slightly increases the float and could be interpreted by some as a minor negative signal, though the volume is not significant enough to warrant major concern.

Key Dates

Keywords

Vulcan Materials, VMC, Insider Trading, Form 4, Stock Appreciation Rights, Equity Compensation, David P. Clement, Share Sale