Page 20 - Martin Marietta - 2021 Proxy Statement
P. 20

BOARD COMMITTEES / THE BOARD OF DIRECTORS



          The primary responsibilities, membership and meeting information for our other standing Committees are summarized
          below



                        Audit Committee



             Current Members:              Primary Responsibilities:
             Laree E. Perez (Chair)        •  Reviews our significant accounting principles, policies and practices in reporting our financial results
             Dorothy M. Ables                under generally accepted accounting principles.
             John J. Koraleski             •  Reviews our annual audited financial statements and related disclosures.
             David C. Wajsgras
                                           •  Reviews management letters or internal control reports, and reviews our system of internal control
                                             over financial reporting.
                                           •  Appoints, retains and oversees the work of the independent auditors.
                                           •  Reviews the effectiveness of the independent audit effort.
                                           •  Pre-approves audit and permissible non-audit services provided by the independent registered public
                                             accounting firm.
                                           •  Reviews our interim financial results for each fiscal quarter.
                                           •  Reviews the qualifications and the plan and scope of work of the corporate internal audit function.
                                           •  Reviews and discusses the reports of our internal audit group.
                                           •  Reviews and discusses management’s assessment of the effectiveness of Martin Marietta’s system of
                                             internal control over financial reporting.
                                           •  Discusses Martin Marietta’s earnings press releases, as well as financial information and earnings
                                             guidance provided to analysts, investors and rating agencies.
                                           •  Discusses matters related to risk assessment and risk management and how the process is handled by
                                             management.
                                           •  Reviews and oversees related party transactions.
                                           •  Reviews complaints regarding accounting, internal controls or auditing matters.
                                           •  Considers allegations of possible financial fraud or other financial improprieties.
                                           •  Reviews annually the adequacy of the Committee charter and recommends proposed changes to the
                                             Board.
                                           •  Prepares the annual Audit Committee Report to be included in the Proxy Statement.
                Meetings in 2020
                       8                   Other Governance Matters:
                                           All members of the Audit Committee, including the Chair, are audit committee financial
                                           experts under applicable U.S. Securities and Exchange Commission (SEC) regulations.
                                           The Chair of the Audit Committee is an independent Director.
              Average Attendance
                                           The Chair of the Audit Committee has experience serving as a Chair and member of other public
                    in 2020:               company audit committees.
                 100%                      All members satisfy the audit committee experience and independence standards required by the New
                                           York Stock Exchange (NYSE).


















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