Page 84 - Martin Marietta - 2024 Proxy Statement

EXECUTIVE COMPENSATION / OPTION EXERCISES AND STOCK VESTED

Option Exercises and Stock Vested
The table below shows on an aggregated basis for each of the named executive officers information on the vesting of
stock, including RSUs, PSUs and Incentive Stock Plan units, during the last completed fiscal year. There are no awards of
stock options or stock appreciation rights for Martin Marietta’s common stock or other similar instruments.

Option Exercises and Stock Vested Table

Option Awards Stock Awards
Number of Value Number of
Shares Realized Shares Value
Acquired on Acquired Realized
on Exercise Exercise on Vesting on Vesting 1
Name (#) ($) (#) ($)
(a) (b) (c) (d) (e)
C. Howard Nye 43,842 21,464,674
James A. J. Nickolas 6,665 3,255,902
Roselyn R. Bar 7,422 3,628,670
Robert J. Cardin 3,860 1,690,848
Michael J. Petro 1,538 718,746

1 The amounts in column (e) include the value of RSUs and PSUs at the time of vesting and the appreciation of units received under the Incentive Stock
Plan.

Retirement and Other Benefits
In order to maintain market competitive levels of compensation, we provide retirement and other benefits to the named
executive officers and other employees. The benefits under the defined benefit pension plan are more valuable for
employees who remain with Martin Marietta for longer periods, thereby furthering Martin Marietta’s objectives of
retaining individuals with more expertise in relevant areas and who can participate in management development for
purposes of executive succession planning. All of Martin Marietta’s salaried employees in the United States are eligible to
participate in the following retirement and other plans. The named executive officers participate in the plans on the same
terms as Martin Marietta’s other salaried employees.

Pension Plan. We have a tax qualified defined benefit pension plan (Pension Plan) under which eligible full-time salaried
employees of Martin Marietta who have completed five continuous years of employment with Martin Marietta, including
the named executive officers, earn the right to receive certain benefits upon retirement on a reduced basis at or after age
55 and on an unreduced basis at or after age 62. Retirement benefits are monthly payments for life based on a multiple of
the years of service and the final average eligible pay for the five highest consecutive years in the last ten years before
retirement, less an offset for social security. The amount is equal to the sum of (A), (B) and (C) below:
(A) 1.165% of the participant’s final average eligible pay up to social security covered compensation, multiplied by the
participant’s credited years of service up to 35 years;
(B) 1.50% of the participant’s final average eligible pay in excess of social security covered compensation, multiplied by
the participant’s credited years of service up to 35 years; and

(C) 1.50% of the participant’s final average eligible pay multiplied by the participant’s credited years of service in excess
of 35 years.

78 2024 PROXY STATEMENT