MARTIN MARIETTA MATERIALS INC
For the period ended May 14, 2026. Filed Apr 15, 2026.
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May 14, 2026 · Filed Apr 15, 2026
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SCHEDULE 14A
(Rule
14a-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A
INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934 (Amendment No. )
Filed by the Registrant
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Filed by a Party other than the Registrant
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Check the appropriate box:
| ☐ | Preliminary Proxy Statement |
|---|---|
| ☐ | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
| ☒ | Definitive Proxy Statement |
| ☐ | Definitive Additional Materials |
| ☐ | Soliciting Material under §240.14a-12 |
| Martin Marietta Materials, Inc.(Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) | |
| Payment of Filing Fee (Check all boxes that apply): | |
| ☒ | No fee required. |
| ☐ | Fee paid previously with preliminary materials. |
| ☐ | Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-(6)(i)(1) and 0-11 |
Dear Shareholders:
It is my pleasure to invite you to attend Martin Marietta’s 2026 Annual Meeting of Shareholders on Thursday, May 14, 2026. This document provides the highlights of our key actions and important decisions in 2025, as well as information about our financial and other performance. Please review this Proxy Statement and the 2025 Annual Report for more information about these topics.
World-Class Safety Achieved
I am proud to report that, once again, Martin Marietta achieved world-class safety results in 2025. We had a world-class lost time incident rate (LTIR) for the ninth consecutive year (0.17 in 2025) and a world-class total injury incident rate (TIIR) for the fifth consecutive year (0.69 in 2025). Moreover, our fidelity to our Guardian Angel culture resulted in 99.8% of our over 9,500 employees experiencing ZERO lost-time incidents and 99.3% experiencing ZERO reportable incidents. These results demonstrate our steadfast commitment to safety grounded in our Guardian Angel safety culture. We have designed a roadmap for continuous safety improvement to drive meaningful and lasting progress for Martin Marietta. Safety excellence is not only central to our commitment to the health and well-being of our employees and communities; it is a proven driver of strong performance, profitability and value creation.
Record Setting Financial Results
In 2025, Martin Marietta continued to deliver exceptional financial results, driven by our disciplined commercial strategy and acquisition contributions. We reported $6.2 billion in revenues from continuing operations, grew aggregates gross profit by 16% to a record $1.7 billion and increased aggregates gross profit per ton by 12% to a record $8.45. We increased our quarterly dividend approximately 5% in August 2025 (the Company’s tenth consecutive year of increasing the dividend), and together with share repurchases, we returned $647 million to shareholders.
SOAR 2025 Execution
In 2025, we successfully completed the execution of our Strategic Operating Analysis and Review (SOAR) 2025 plan, a period defined by deliberate action, disciplined capital allocation and an unwavering focus on long-term value creation. The accomplishments throughout SOAR 2025 fundamentally reshaped our portfolio and positioned Martin Marietta as a stronger, more durable and resilient enterprise. Through the disciplined execution of our strategic plan and the unwavering commitment of our teams, we continued to solidify our position as North America’s premier, aggregates-led building materials company.
| REVENUES FROM CONTINUING OPERATIONS $6.2B | NET EARNINGS FROM CONTINUING OPERATIONS ATTRIBUTABLE TO MARTIN MARIETTA $1.0B | ADJUSTED EBITDA FROM CONTINUING OPERATIONS $2.1B* |
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In doing so, we extended our long-track record of delivering above-market returns since the launch of SOAR in 2010. Our cumulative Total Shareholder Return (TSR) since the start of SOAR 2025 on January 1, 2021 is 126% as compared with the S&P 500’s TSR of 96%. These significant accomplishments demonstrate that Martin Marietta has built an increasingly resilient, efficient and cash flow generative business.
Significant Portfolio Actions
In 2025, we continued to strengthen and streamline our portfolio through strategic actions. A key milestone was reaching a definitive agreement for an asset exchange with Quikrete Holdings, Inc. (QUIKRETE), which subsequently closed after year-end in February. Through this transaction, Martin Marietta received aggregates operations producing approximately 20 million tons annually in Virginia, Missouri, Kansas and Vancouver, British Columbia, as well as $450 million in cash. In exchange, QUIKRETE received our Midlothian cement plant, related cement terminals, Texas ready-mixed concrete assets, and certain nonoperating land. Through the tax-efficient exchange of cyclical cement and ready-mixed concrete assets for the largest aggregates acquisition in our Company’s history, we reaffirmed our disciplined approach to capital allocation and commitment to higher-value, strategically aligned assets. This portfolio-enhancing transaction established new growth platforms in key SOAR-target markets while further strengthening our differentiated Central Division footprint.
In December 2025, we expanded our presence in Minnesota with the acquisition of certain aggregates and FOB asphalt assets from CRH plc. This complementary bolt-on enhances the Company’s existing operations in the Twin Cities and St. Cloud markets while also adding approximately 40 million tons of aggregates reserves to our already long-lived assets.
In addition, we completed the acquisition of Premier Magnesia, LLC (Premier), a privately-owned producer of magnesia-based products with operations in Nevada, North Carolina, Indiana and Pennsylvania, enhancing the Company’s position as the leading producer of natural and synthetic magnesia-based products in the United States. This acquisition wholly aligns with our strategic plan to grow our highly complementary Specialties business, which possesses aggregates-like characteristics, compelling margins and core competencies closely tied to our traditional strengths in drilling, blasting, loading, hauling and crushing rock. Our active portfolio management continues to maximize the value of our business for our shareholders.
Governance and Board Refreshment
Martin Marietta is committed to strong corporate governance and ensuring a diverse set of skills and backgrounds on the Board of Directors. We believe our balanced mix of Board members with different backgrounds and qualifications, including tenure, brings the right blend of independence and diversity that combines experience continuity through business cycles with fresh perspective. At the Company’s 2026 Annual Meeting of Shareholders, John J. Koraleski and Sue W. Cole will retire. Mr. Koraleski and Ms. Cole have been superb and insightful members of our Board; we are extremely grateful for their steady guidance and thoughtful leadership throughout their respective Board tenures. We wish them well in retirement. We are nominating Gayla J. Delly and Martin J. Lyons, Jr. to serve on our Board. Ms. Delly is the former President and Chief Executive Officer of Benchmark Electronics, Inc., a company that provides contract manufacturing, design, engineering, test and distribution services to manufacturers of computers, medical devices, telecommunications equipment and industrial control and test instruments. Mr. Lyons is Chairman, President and Chief Executive Officer, Ameren Corporation.
Your Vote Matters
I urge you to promptly cast your vote. You may do so by either returning the enclosed Proxy Card or by the electronic or telephone options described in our Proxy Statement. On behalf of our Board of Directors, thank you for your investment in Martin Marietta. We look forward to continuing to deliver strong and responsible performance, innovation and growth to our customers, shareholders and other stakeholders.
Sincerely,
C. HOWARD NYE
Chair of the Board, President and Chief Executive Officer
| * | Adjusted EBITDA from continuing operations is not a measure under generally accepted accounting principles in the United States (GAAP). Please see Appendix B for a reconciliation of non-GAAP measures to GAAP measures and other disclosures related to the presentation of non-GAAP measures. |
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2026 PROXY STATEMENT
| ITEM OF BUSINESS | BOARDRECOMMENDATION | PAGE |
|---|---|---|
| 1 | To elect the 10 directors identified in this proxy statement | 24 |
| 2 | To ratify the appointment of PricewaterhouseCoopers LLP as independent auditors for 2026 | 43 |
| 3 | To vote on an advisory resolution toapprove the compensation of ournamed executive officers | 93 |
| 4 | To approve the Amended and Restated Stock-Based Award Plan | 94 |
| Any other matters that may properly come before the meeting | ||
Date of Availability:
This Notice, Proxy Statement, the 2025 Annual Report, and the Proxy Card are being sent commencing on approximately April 15, 2026 to shareholders of record at the close of business on March 6, 2026.
Your vote is important. You may vote in person at the 2026 Annual Meeting of Shareholders (Annual Meeting) or submit a proxy over the internet. If you have received a paper copy of the Proxy Card (or if you request a paper copy of the materials), you may submit a proxy by telephone or by mail.
Whether or not you expect to attend the meeting, we hope you will date and sign the enclosed Proxy Cardand mail it promptly in the enclosed stamped envelope. Submitting your proxy now will not prevent you from voting your shares at the meeting, because your proxy is revocable at your option.
If you submit your proxy by telephone or over the internet, you do not need to return your Proxy Card by mail.
Sincerely,
George F. Schoen
Executive Vice President, General Counsel and Corporate Secretary
Raleigh, North Carolina
April 15, 2026
DATE & TIME Thursday, May 14, 2026 8:00 a.m. ET
LOCATION 4123 Parklake Avenue Raleigh, NC 27612 (our principalexecutive offices)
How to Vote
It is important that your shares be represented and voted at the Annual Meeting. We urge you to vote by using any of these methods.
INTERNET
www.voteproxy.com
TELEPHONE
1-800-PROXIES (1-800-776-9437) in the United States or 1-201-299-4446 from outside the United States
Sign, date and mail your proxy card in the envelope provided
IN PERSON
Attend the Annual Meeting and vote by ballot
IMPORTANT NOTICE
Regarding the Availability of Proxy Materials for the 2026 Annual Meeting of Shareholders: The Proxy Statement and Annual Report to Shareholders are available for review on the Internet at https://ir.martinmarietta.com/reports-filings/annual-reports-and-proxies.
| Proxy Statement Highlights | 1 |
|---|---|
| The Board of Directors | 13 |
| Board Effectiveness and Refreshment | 13 |
| Board Qualifications and Tenure | 15 |
| Board Refreshment Elements | 16 |
| Tenure Guidelines | 16 |
| Board, Committee and Individual Director Evaluations | 17 |
| Board Committees | 18 |
| Board Refreshment Timeline | 23 |
| PROPOSAL 1: Election of Directors | 24 |
| Director Compensation | 34 |
| Director Compensation Table | 35 |
| Beneficial Owners and Management | 36 |
| Stock Ownership | 36 |
| Corporate Governance Matters | 38 |
| Corporate Governance Philosophy | 38 |
| Corporate Governance Board Practices | 39 |
| Reasons for Combined Chair and CEO | 40 |
| PROPOSAL 2: Independent Auditors | 43 |
| Summary of Fees | 43 |
| Pre-Approval Policies and Procedures | 44 |
| Audit Committee Review | 44 |
| Audit Committee Report | 45 |
| Management Development and Compensation Committee Report | 46 |
| Compensation Committee Interlocks and Insider Participation in Compensation Decisions | 47 |
| Compensation Discussion and Analysis | 48 |
| Introduction | 48 |
| Summary of our Compensation Considerations | 49 |
| Responsiveness to Shareholders: Shareholder Engagement and Feedback on Executive Compensation Programs | 49 |
| Our 2025 Performance | 50 |
| Sustainability, Safety and the Well-Being of our Employees | 51 |
| Compensation Decisions Yielding Alignment with Performance and Enhancing our Corporate Resilience | 55 |
| Pay Decisions and Compensation Governance Practices | 57 |
| Determination of CEO Compensation | 58 |
| 2025 Chair, President and CEO Compensation | 59 |
| 2025 Named Executive Officers’ Compensation – Our Compensation Strategy | 59 |
| Considerations Regarding 2025 Compensation | 61 |
| 2025 Base Salary | 61 |
| 2025 Annual Cash Incentive Goals and Results | 62 |
| 2025 Actual Incentive Cash Earned | 62 |
| Annual Incentive Feature: Incentive Stock Plan | 66 |
| 2025 Long-Term Incentive Compensation Overview | 66 |
| PSU Awards (55% of LTI Award) | 67 |
| Selection of Relative TSR | 68 |
| RSU Awards (45% of LTI Award) | 68 |
| 2025-2027 Performance Goals | 68 |
| 2025 Performance Goals and Metrics | 69 |
|---|---|
| 2023-2025 PSU Award Payouts | 69 |
| Ongoing Corporate Governance Policies | 70 |
| Compensation Decision Process | 70 |
| Role of the Independent Compensation Consultant | 70 |
| Role of Peer Companies and Competitive Market Data | 71 |
| Other Compensation Program Features | 73 |
| Compensation Program Risk Assessment | 73 |
| Stock-Based Awards Generally | 73 |
| Stock Ownership Requirements | 73 |
| Anti-Hedging and Pledging Policy | 74 |
| Clawback Policy | 74 |
| Our Use of Independent Compensation Consultants | 75 |
| Practice Regarding Timing of Equity Grants | 75 |
| Perquisites | 76 |
| Retirement and Other Benefits | 76 |
| Potential Payments upon Termination or Change of Control | 76 |
| Tax and Accounting Implications | 76 |
| Executive Compensation | 77 |
| Executive Officer Compensation | 77 |
| Summary Compensation Table | 77 |
| Grants of Plan-Based Awards | 78 |
| Outstanding Equity Awards at Fiscal Year-End | 80 |
| Option Exercises and Stock Vested | 81 |
| Retirement and Other Benefits | 81 |
| Pension Benefits | 83 |
| Potential Payments Upon Termination or Change of Control | 84 |
| Required Pay Disclosures | 88 |
| CEO Pay Ratio Disclosure | 88 |
| Pay Versus Performance | 89 |
| PROPOSAL 3: Advisory Vote on the Compensationof Our Named Executive Officers | 93 |
| PROPOSAL 4: Approval of the Amended and Restated Stock-Based Award Plan | 94 |
| Securities Authorized for Issuance Under Equity Compensation Plans | 101 |
| Equity Compensation Plan Information | 101 |
| Description of the TXI Legacy Plan | 101 |
| Description of the Deferred Compensation Plan | 102 |
| Annual Meeting and Voting Information | 103 |
| Incorporation by Reference | 106 |
| Shareholders’ Proposals for 2027 Annual Meeting | 106 |
| Appendix A: Martin Marietta Guidelines for Potential New Board Members | A-1 |
| Appendix B: Non-GAAP Measures | B-1 |
| Appendix C: Amended and Restated Stock-Based Award Plan | C-1 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.