MLM (MLM) CFO Petro granted 2,960 restricted stock units vesting over 5 years
Rhea-AI Filing Summary
Petro Michael J reported acquisition or exercise transactions in this Form 4 filing.
Martin Marietta Materials SVP and CFO Michael J. Petro received an equity award of 2,960 shares of common stock. The shares were granted as a restricted stock unit award at no cash purchase price and increased his directly held common stock to 15,358.6026 shares.
The award was granted under the Martin Marietta Materials, Inc. Amended and Restated Stock-Based Award Plan. It vests in three equal installments on the third, fourth, and fifth anniversaries of the award date, subject to continued employment and other conditions in the award agreement.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 2,960 shares
Net Buy
1 txn
Insider
Petro Michael J
Role
SVP and CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 2,960 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 15,358.6026 shares (Direct)
Footnotes (1)
- F1. Restricted stock unit award granted under the Martin Marietta Materials, Inc. Amended and Restated Stock-Based Award Plan, which award vests pro rata in three equal installments on the third, fourth and fifth anniversaries of the award date, subject to continued employment and other terms and conditions specified in the award agreement.
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FAQ
What did MLM executive Michael J. Petro report in this Form 4 filing?
Michael J. Petro reported receiving a grant of 2,960 shares of Martin Marietta Materials common stock. The grant is a restricted stock unit award under the company’s stock-based award plan, increasing his directly held common stock to 15,358.6026 shares after the transaction.
Was the MLM Form 4 transaction an open-market stock purchase or sale?
The transaction was not an open-market purchase or sale; it was a grant or award acquisition. Petro received 2,960 shares of common stock at no purchase price as a restricted stock unit award under Martin Marietta’s Amended and Restated Stock-Based Award Plan.
Under which plan was the MLM restricted stock unit award to Petro granted?
The restricted stock unit award was granted under the Martin Marietta Materials, Inc. Amended and Restated Stock-Based Award Plan. This plan governs stock-based compensation, including vesting schedules and conditions such as continued employment and other terms in the award agreement.
What conditions apply to vesting of Michael J. Petro’s MLM restricted stock units?
Vesting of Petro’s restricted stock units is subject to continued employment and other conditions specified in the award agreement. The 2,960-share award vests in three equal installments on the third, fourth, and fifth anniversaries of the award date under the company’s stock-based plan.