Martin Marietta Materials, Inc. (NYSE:MLM) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.
announced that Anne H. Lloyd, Executive Vice President and Chief
Financial Officer, will be retiring from the Company. Ms. Lloyd
is working closely with the Company to ensure a smooth transition
of her responsibilities over the next several months. Also on
June 22, 2017, the Board of Directors of the Company appointed
James A. J. Nickolas to be the Companys next Senior Vice
President and Chief Financial Officer, effective mid-August 2017.
Corporate Development group at Caterpillar Inc. (Caterpillar). He
has served in this position since January 2017. Prior to this
position, he served as Group Chief Financial Officer of the
Resources Industries segment of Caterpillar from October 2014 to
December 2016. From December 2012 to September 2014, Mr. Nickolas
served as Group Chief Financial Officer of Caterpillars Global
Mining business unit. From February 2011 to November 2012, Mr.
Nickolas served as Director of Integration of Caterpillar.
Mr. Nickolas entered into an offer letter (the Offer Letter). to
the Offer Letter, Mr. Nickolas will receive an annual base salary
of $470,000. He will be eligible for a cash award under the
Companys annual incentive compensation plan with a target award
of 75% of his base salary. In addition, Mr. Nickolas will receive
a one-time grant of restricted stock units with a grant date fair
value of $1,410,000, which will vest over a five year period. Mr.
Nickolas will also enter in an Employment Protection Agreement
with the Company in substantially the same form as the form of
Employment Protection Agreement filed as Exhibit 10.01 to the
Companys Current Report on Form 8-K filed on August 19, 2008.
conjunction with, and is qualified in its entirety by reference
to, the Offer Letter, a copy of which will be filed with the
Companys quarterly report on Form 10-Q for the fiscal quarter
ended June 30, 2017. A copy of the press release issued by the
Company announcing the retirement of Ms. Lloyd from the Company
and the appointment of Mr. Nickolas is attached as Exhibit 99.1
to this Current Report on Form 8-K and is incorporated herein by
reference.
ITEM 9.01. Financial Statements and Exhibits.
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Exhibit Number |
Description |
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99.1 |
Press Release dated June 22, 2017 |
MARTIN MARIETTA MATERIALS INC ExhibitEX-99.1 2 ex99-1.htm PRESS RELEASE EXHIBIT 99.1 MARTIN MARIETTA ANNOUNCES CHIEF FINANCIAL OFFICER TRANSITION RALEIGH,…To view the full exhibit click here About Martin Marietta Materials, Inc. (NYSE:MLM)
Martin Marietta Materials, Inc. is a supplier of aggregates products (crushed stone, sand and gravel) for the construction industry, used for the construction of infrastructure, non-residential, and residential projects. The Company operates through three businesses: Aggregates Business, Cement Business and Magnesia Specialties Business. The Company conducts its Aggregates business through three segments: the Mid-America Group, Southeast Group, and West Group. The Company’s Cement business operates through the Cement segment. The Company’s Magnesia Specialties segment includes its magnesia-based chemicals and dolomitic lime businesses. Its Aggregates Business is engaged in mining, processing and selling granite, limestone, sand, gravel and other aggregate products. Its Cement business is engaged in producing Portland and specialty cements. In addition, aggregates products are used for railroad ballast and in agricultural, utility and environmental applications.