Page 6 - Martin Marietta - 2025 Proxy Statement

Table of Contents

Proxy Statement Highlights ......................... 1 Annual Incentive Feature: Stock Purchase Plan ....... 59
2024 Long-Term Incentive Compensation Overview . . . 59
The Board of Directors .............................. 14
PSU Awards (55% of LTI Award) .................. 60
Board Effectiveness and Refreshment ............... 14
Selection of Relative TSR ......................... 60
Board Qualifications, Gender and Diversity ........... 16
RSU Awards (45% of LTI Award) .................. 61
Board Refreshment Elements ...................... 17
2024-2026 Performance Goals ................... 61
Tenure Guidelines ............................... 17
2022-2024 PSU Award Payouts ................... 62
Board, Committee and Individual Director Ongoing Corporate Governance Policies ............ 63
Evaluations .................................... 18
Compensation Decision Process ................... 63
Board Committees .............................. 19
Other Compensation Program Features ............. 65
Proposal 1: Election of Directors .................... 23 Compensation Program Risk Assessment ........... 65
Director Compensation ........................... 28 Stock-Based Awards Generally .................... 66
Director Compensation Table ...................... 29 Stock Ownership Requirements ................... 66
Anti-Hedging and Pledging Policy ................. 67
Beneficial Owners and Management ................. 30
Clawback Policy ............................... 67
Stock Ownership ................................ 30
Our Use of Independent Compensation Consultants . . 67
Corporate Governance Matters ...................... 32 Practice Regarding Timing of Equity Grants .......... 68
Corporate Governance Philosophy .................. 32 Perquisites .................................... 68
Corporate Governance Board Practices .............. 33 Retirement and Other Benefits .................... 69
Reasons for Combined Chair and CEO .............. 34 Potential Payments upon Termination or Change of
Control ...................................... 69
Proposal 2: Independent Auditors .................. 37
Tax and Accounting Implications .................. 69
Summary of Fees ............................... 38
Executive Compensation ........................... 70
Pre-Approval Policies and Procedures ............... 38
Executive Officer Compensation .................. 70
Audit Committee Review ......................... 38
Summary Compensation Table .................... 70
Audit Committee Report ............................ 39 Grants of Plan-Based Awards ..................... 71
Management Development and Compensation Outstanding Equity Awards at Fiscal Year-End ....... 73
Committee Report ................................. 40 Option Exercises and Stock Vested ................. 74
Retirement and Other Benefits .................... 74
Compensation Committee Interlocks and Insider
Participation in Compensation Decisions .............. 40 Pension Benefits ............................... 76
Potential Payments Upon Termination or Change of
Compensation Discussion and Analysis ............... 41
Control ...................................... 77
Introduction ................................... 41
Required Pay Disclosures ........................... 80
Summary of our Compensation Considerations ....... 42
CEO Pay Ratio Disclosure ........................ 80
Responsiveness to Shareholders: Shareholder Pay Versus Performance ......................... 81
Engagement and Feedback on Executive Compensation
Programs ...................................... 42 Proposal 3: Advisory Vote on the Compensation of
Our 2024 Performance ........................... 43 Our Named Executive Officers ..................... 85
Sustainability, Safety and the Well-Being of our Proposal 4: Approval of the 2025 Employee Stock
Employees ..................................... 45 Purchase Plan .................................... 86
Compensation Decisions Yielding Alignment with Securities Authorized for Issuance Under Equity
Performance and Enhancing our Corporate Resilience . . 49 Compensation Plans ............................... 89
Pay Decisions and Compensation Governance Equity Compensation Plan Information ............. 89
Practices ...................................... 51 Description of the TXI Legacy Plan ................. 89
Determination of CEO Compensation ............... 52 Description of the Deferred Compensation Plan ...... 90
2024 Chair, President and CEO Compensation ........ 53 Annual Meeting and Voting Information ............. 91
2024 Named Executive Officers’ Compensation – Our Incorporation by Reference ....................... 94
Compensation Strategy .......................... 53
Shareholders’ Proposals for 2026 Annual Meeting .... 94
Considerations Regarding 2024 Compensation ....... 55 Appendix A: Martin Marietta Guidelines for Potential
2024 Base Salary ................................ 55 New Board Members .............................. A-1
2024 Annual Cash Incentive Goals and Results ........ 56 Appendix B: Non-GAAP Measures ................... B-1
2024 Actual Incentive Cash Earned ................. 56 Appendix C: 2025 Employee Stock Purchase Plan ...... C-1

2025 PROXY STATEMENT