Form 8-K · Current report
Martin Marietta Materials 8-K, filed Aug 4, 2026
- Filed
- CIK
- 0000916076
- Accession no.
- 0000950157-26-000837
Summary
Martin Marietta Materials announced that it promoted Michael J. Petro to Executive Vice President and Chief Financial Officer, effective with an employment agreement setting his base salary at $750,000 and providing severance of three times base salary plus target bonus on a qualifying termination.
Key points
- Petro's target annual incentive award is 100% of base salary and his target long-term incentive award is 260% of base salary.
- He receives a one-time restricted stock unit grant valued at $5,000,000, vesting ratably on the sixth, seventh, and eighth anniversaries of the grant date.
- The employment agreement includes a three-year post-termination non-competition, non-solicitation, and confidentiality covenant.
- A separate employment protection agreement provides change-of-control severance of three times annual compensation and 36 months of continued benefits.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
From the filing
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On August 4, 2026, Martin Marietta Materials, Inc. (the “Company”) announced that the Company has promoted Michael J. Petro to Executive Vice President, Chief Financial Officer. In connection with his promotion to the role of Executive Vice President, Chief Financial Officer, the Company and Mr. Petro executed an employment agreement (the “Employment Agreement”) and an amended and restated employment protection agreement (the “Employment Protection Agreement”). Pursuant to the Employment Agreement, Mr. …
An excerpt of the text as filed with the SEC, cut for length.
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