AI English summary of an SEC filing — figures as filed
Martin Marietta Materials MLMThe company appointed Michael J. Petro as Senior Vice President and Chief Financial Officer on July 7, 2025, effective July 8, 2025. He succeeds Robert J. Cardin, who has served as Interim Chief Financial Officer since April 10, 2025.
Key points
AI summaryThe company appointed Michael J. Petro as Senior Vice President and Chief Financial Officer on July 7, 2025, effective July 8, 2025. He succeeds Robert J. Cardin, who has served as Interim Chief Financial Officer since April 10, 2025.
Robert J. Cardin will remain with the company as Senior Vice President, Controller and Chief Accounting Officer, the company said. It said Petro will also continue to oversee the Strategy and Development function after the effective date.
The company said Petro, 41, joined in 2015 and served as Director of Strategy and Development from 2015 to 2018, Vice President from 2018, and Senior Vice President of Strategy and Development from 2021. Before joining the company, he worked in investment banking at Wells Fargo Securities and as a consultant at PwC. He holds an undergraduate degree in accounting from Louisiana State University and a master's of business administration degree from Duke University.
Under the Offer Letter, the company said it will raise Petro's base salary to $600,000 and grant him 1 one-time restricted stock units with a grant date value of $1,000,000, which will vest in full on the 5th anniversary of the effective date. The company said his target annual incentive remains 90% of base salary and his target long-term incentive remains 200% of base salary.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Michael J. Petro Appointed Chief Financial Officer
The company appointed Michael J. Petro as Senior Vice President and Chief Financial Officer on July 7, 2025, effective July 8, 2025. He succeeds Robert J. Cardin, who has served as Interim Chief Financial Officer since April 10, 2025.
Source · Based on the filing body and exhibits
Robert J. Cardin Retains Current Role
Robert J. Cardin will remain with the company as Senior Vice President, Controller and Chief Accounting Officer, the company said. It said Petro will also continue to oversee the Strategy and Development function after the effective date.
Source · Based on the filing body and exhibits
Petro's Career and Education
The company said Petro, 41, joined in 2015 and served as Director of Strategy and Development from 2015 to 2018, Vice President from 2018, and Senior Vice President of Strategy and Development from 2021. Before joining the company, he worked in investment banking at Wells Fargo Securities and as a consultant at PwC. He holds an undergraduate degree in accounting from Louisiana State University and a master's of business administration degree from Duke University.
Source · Based on the filing body and exhibits
Petro's Compensation Terms
Under the Offer Letter, the company said it will raise Petro's base salary to $600,000 and grant him 1 one-time restricted stock units with a grant date value of $1,000,000, which will vest in full on the 5th anniversary of the effective date. The company said his target annual incentive remains 90% of base salary and his target long-term incentive remains 200% of base salary.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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