Page 38 - Proxy Statement - 2020

Compensation Discussion and Analysis

Introduction .............................. 34 Our Use of Independent
Executive Summary ........................ 35 Compensation Consultants ................. 54
Shareholder Engagement and Feedback on Practice Regarding Timing of
Equity Grants ............................. 55
2019 Say on Pay .......................... 35
Our 2019 Performance ..................... 36 Perquisites ............................... 55
Safety, Environment and Sustainability ...... 37 Retirement and Other Benefits .............. 55
Components of Executive Compensation - Potential Payments upon Termination
Performance-Related Compensation ......... 40 or Change of Control ...................... 56
Pay Decisions and Compensation Governance Tax and Accounting Implications ............ 56
Practices ................................. 41
2019 Chairman, President and CEO
Compensation ............................ 42
Introduction
CEO Target Opportunity Mix ................ 42
Determination of CEO Compensation ........ 42 This Compensation Discussion and Analysis, or CD&A, describes
our 2019 executive compensation program and the attendant
2019 Named Executive Officers’ Compensation
oversight provided by the Management Development and
- Our Compensation Strategy ............... 42
Compensation Committee of the Board of Directors (the
Considerations Regarding 2019
Committee). It also summarizes our executive compensation
Compensation ............................ 45
structure and discusses the compensation earned by Martin
2019 Base Salary .......................... 45 Marietta’s named executive officers, or NEOs (the CEO, the CFO,
and the three other most highly compensated executive officers
2019 Annual Cash Incentive Goals and
Results ................................... 46 in 2019) as presented below in the tables under “Executive
Compensation” following this CD&A, which contain detailed
2019 Long-Term Incentive Compensation compensation information quantifying and further explaining
Overview ................................ 48
our NEOs’ compensation.
PSU Awards (55% of LTI Award) ............. 48
For 2019, our NEOs were:
Selection of Relative TSR ................... 49
Performance-Based RSU Awards (45% of LTI NEO Title
Award) .................................. 49
C. Howard Nye Chairman of the Board, President
2019-2021 Performance Goals ............... 49
and Chief Executive Officer
2017-2019 PSU Award Payouts .............. 51
James A. J. Nickolas Senior Vice President and Chief
Ongoing Corporate Governance Policies ...... 51
Financial Officer
Compensation Decision Process ............. 51
Roselyn R. Bar Executive Vice President, General
Compensation Program Risk Assessment ...... 53
Counsel and Corporate Secretary
Stock-Based Awards Generally .............. 53
Daniel L. Grant Senior Vice President – Strategy
Stock Ownership Requirements ............. 53
and Development
Anti-Hedging and Pledging Policy ........... 54
Craig M. LaTorre Senior Vice President and Chief
Clawback Policy ........................... 54
Human Resources Officer

34 2020 PROXY STATEMENT