Laree Perez

About Laree E. Perez

Independent director of Martin Marietta Materials, Inc. since 2004; age 71. Background in investment management and consulting, with prior executive roles at Loomis, Sayles and co-founding Medallion Investment Company; Bachelor’s in Finance and Economics from Baylor University. Serves as an audit committee financial expert, reflecting deep finance and capital markets expertise .

Past Roles

Organization	Role	Tenure	Committees/Impact
DeRoy & Devereaux (independent investment adviser)	Investment Consultant	Since 2015	Client consulting services
The Medallion Company, LLC	Owner & Managing Partner	2003–2015	Consulting firm leadership
Loomis, Sayles & Company, L.P.	Vice President	Not disclosed	Investment management leadership
Medallion Investment Company, Inc.	Co-founder, President & CEO	Not disclosed	Built and led investment firm

External Roles

Organization	Role	Tenure	Notes
GenOn Energy, Inc. (NYSE: GEN)	Director	2002–2012	Audit Committee Chair (2002–2007); member of Audit & Risk and Finance Oversight Committees (2008–2012)
Baylor University	Vice Chairman, Board of Regents	Not disclosed	Governance role at academic institution
New Mexico State University	Trustee; Chairman of the Board	Not disclosed	Governance role at academic institution

Board Governance

Independence: Board determined Perez is independent; 90% of MLM’s Board is independent .
Committee assignments: Audit Committee member (audit committee financial expert) and Finance Committee member; not a chair .
Attendance and engagement: 100% attendance at Board and assigned committee meetings in 2024; all directors attended the May 2024 Annual Meeting .
Executive sessions: Independent directors met in executive session at each regularly scheduled Board meeting (four times in 2024) .
Related-party transactions and conflicts: None since January 1, 2024; Audit Committee oversees related-party transactions .
Anti-hedging and anti-pledging: Company policy in place; directors’ holdings reported as not pledged .

Fixed Compensation

Component (FY 2024)	Amount ($)	Notes
Fees Earned or Paid in Cash	128,750	Annual Board cash retainer is $125,000; Audit Committee member retainer $5,000; actual cash reflects period/service mix
Change in Pension Value and Nonqualified Deferred Compensation Earnings	42,648	Interest paid on cash deferrals under Director plan
All Other Compensation	47,977	Dividend equivalents on deferred stock units; no personal perquisites
Total	389,810	Sum of all components

Director cash retainers: Board $125,000; Audit Chair $20,000; Audit member $5,000; Finance Chair $15,000; Nominating Chair $15,000; Ethics Chair $15,000; Lead Independent Director $35,000 .

Performance Compensation

Equity Award (FY 2024)	Grant Date	RSUs (#)	Grant-Date Fair Value ($)	Vesting	Deferral
Annual Director RSU grant	May 2024	293	170,435	Fully vested upon award	Directors must defer at least 50% until retirement; Perez received 147 unrestricted shares and deferred 146 RSUs

Directors do not receive performance-based equity (no PSUs/options); RSUs are fully vested at grant with mandatory deferral to strengthen alignment .

Other Directorships & Interlocks

Company	Current/Past	Committee Roles	Interlocks
GenOn Energy, Inc.	Past (2002–2012)	Audit Chair; Audit & Risk; Finance Oversight	No MLM compensation committee interlocks; MD&C members have no related-party disclosures

Expertise & Qualifications

Finance and accounting: Significant expertise in financial statements, corporate finance, capital markets; designated audit committee financial expert .
Strategy/M&A: Strategic analysis and private investment experience .
Regional knowledge: Familiarity with the southwestern U.S. .
Education: Bachelor’s degree in Finance and Economics from Baylor University .

Equity Ownership

Metric	Value	Notes
Beneficial Ownership (as of Mar 7, 2025)	16,598 shares	Includes deferred common stock units and RSUs per footnote; none pledged
RSUs Held (as of Dec 31, 2024)	10,456 RSUs	Director equity accumulations
Deferred Common Stock Units (as of Mar 7, 2025)	5,258 units	Under Director deferred compensation plan
Ownership as % of Outstanding	<1% (none individually >1%)	All directors and officers as a group own 0.69%
Pledged Shares	None	Anti-pledging policy in place

Governance Assessment

Strengths supporting investor confidence:
- Independent, long-tenured director with audit committee financial expert designation; serves on Audit and Finance Committees that oversee financial reporting, risk, capital structure, and related-party review .
- 100% attendance; mandatory deferral of at least 50% of RSUs until retirement; no pledging or related-party transactions disclosed—alignment and low-conflict posture .
- Board-wide shareholder engagement and strong Say-on-Pay support (95% approval in 2024), indicating constructive governance and investor responsiveness .
Potential watch items / RED FLAGS:
- Very long tenure (director since 2004) can raise refreshment and independence optics; the Board emphasizes ongoing refreshment and evaluations, but monitoring rotation and skill mix remains prudent .
- No current public-company directorships disclosed; lowers interlock risk but limits external public board benchmarking exposure .
Committee governance context:
- Audit Committee (all independent; members are financial experts) oversees accounting policies, internal controls, earnings guidance, cybersecurity, and related-party transactions—Perez participates directly .
- Finance Committee reviews capital structure, dividends, repurchases, large capex, political spending policies, and charitable budgets—Perez participates directly .
Policy safeguards:
- Anti-hedging and anti-pledging policy; clawback policy for executives; directors’ RSU deferral; independent committee leadership; executive sessions each regular meeting .
Shareholder signals:
- Robust year-round engagement program reaching holders of ~75% of outstanding shares; Board reported 100% meeting attendance and independent executive sessions; continued high Say-on-Pay support .