SEC Contract Filing

Filing Date: 2025-07-31

Document Content:
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>8
<FILENAME>a2q25-exhibit103.htm
<DESCRIPTION>EX-10.3
<TEXT>
<html><head>
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<title>Document</title></head><body><div id="i37f8119ee04d48a2a7f29f6512155d21_1"></div><div style="min-height:45pt;width:100%"><div style="padding-left:72pt;padding-right:72pt;text-align:center"><font style="font-family:'Arial',sans-serif;font-size:1pt;font-weight:700;line-height:115%"></font></div><div style="text-align:right"><font><br></font></div></div><div style="margin-bottom:6pt;text-align:right"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.848%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#808080;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">EXHIBIT 10.3</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#808080;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">VULCAN MATERIALS COMPANY</font></div><div style="text-align:right"><font style="color:#808080;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">STOCK-ONLY STOCK APPRECIATION RIGHTS AWARD AGREEMENT</font></div><div style="text-align:right"><font style="color:#808080;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">GRANTED UNDER THE 2025 OMNIBUS LONG-TERM INCENTIVE PLAN</font></div><div style="text-align:right"><font style="color:#808080;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">TERMS AND CONDITIONS &#47; GRANT DATE&#58; &#91;________ __, 20__&#93;</font></div></td></tr></table></div><div id="i37f8119ee04d48a2a7f29f6512155d21_4"></div><div style="margin-top:6pt;padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-style:italic;font-weight:700;line-height:120%;padding-left:10.5pt">Definitions. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">In addition to other terms defined herein, the following terms will have the meanings as follows, and terms not defined in the Agreement have the meanings given in the Plan&#58;</font></div><div style="margin-top:6pt;padding-left:54pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">a.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:10.5pt">&#8220;Administrator&#8221; means the Compensation and Human Capital Committee of the Board of Directors (the &#8220;Board&#8221;) or the Board.</font></div><div style="margin-top:6pt;padding-left:54pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">b.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:10.5pt">&#8220;Agreement&#8221; means this Stock-Only Stock Appreciation Rights Award Agreement.</font></div><div style="margin-top:6pt;padding-left:54pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">c.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:11pt">&#8220;Company&#8221; means Vulcan Materials Company, a New Jersey corporation, or its successors.</font></div><div style="margin-top:6pt;padding-left:54pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">d.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:10.5pt">&#8220;Disability&#8221; means Permanent and Total Disability whereby the Participant is entitled to long-term disability benefits under the applicable long-term disability plan of the Company or an Affiliate, or, to the extent the Participant is not eligible to participate in any Company-sponsored plan, under the guidelines of the Social Security Administration, or as otherwise defined in the Plan.</font></div><div style="margin-top:6pt;padding-left:54pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">e.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:10.5pt">&#8220;Exercise Price&#8221; means the Fair Market Value of a Share on the Grant Date.</font></div><div style="margin-top:6pt;padding-left:54pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">f.</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:13pt">&#8220;Fair Market Value&#8221; or &#8220;FMV&#8221; means the closing stock price per Share as reported on the principal stock exchange on which such Shares are listed on the exercise date (with Fair Market Value on the exercise date determined, for this purpose (unless the Administrator determines otherwise), based on the closing price of a Share on the last trading day immediately preceding the exercise date).</font></div><div style="margin-top:6pt;padding-left:54pt;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">g.</font><font style="color:#000000;font-family:'Arial