Description of the Plan |
12 Months Ended |
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Dec. 31, 2025 | |
| EBP 050 | |
| EBP, Description of Plan [Line Items] | |
| Description of the Plan | DESCRIPTION OF THE PLAN General The CMG Hourly 401(k) Plan (Plan), a defined contribution employee benefit plan established effective October 1, 1983, and most recently restated effective January 1, 2020, provides for accumulation of savings for qualified hourly employees of Vulcan Materials Company (Company) that were hired prior to July 15, 2007. The Company has designated a portion of the Plan consisting of the Company’s stock fund as an Employee Stock Ownership Plan (ESOP). The ESOP fund allows a participant to elect to have the dividends on the Company’s stock fund reinvested in the Company’s stock fund or paid to the participant in cash. A participant may transfer between the Company’s two defined contribution employee benefit plans (as defined in the Plan). When a participant transfers between plans, the net assets of the participant’s account will be transferred to the other plan. For the year ended December 31, 2025, $1,226,000 was transferred from the Plan to the Vulcan 401(k) Plan. Investment assets of the Plan are held by Empower Trust Company, LLC (Trustee). Empower Retirement (Recordkeeper), a subsidiary of Empower Trust Company, LLC, is the recordkeeper for the Plan. Participation and Vesting Effective July 15, 2007, no newly hired individual will become a participant in the Plan unless he or she is in a participating union (as defined in the Plan). Employees hired on or after July 15, 2007 are eligible for participation in the Vulcan 401(k) Plan. Former participants who are reemployed after a break in service no greater than one year may reenter the Plan. Participants are fully vested in all contributions at all times. As such, the Plan does not provide for forfeitures. Contributions The Plan is funded through contributions by participants and the Company. The Plan provides for three types of employee contributions to the Plan: pay conversion contributions (pretax contributions), after-tax contributions and Roth contributions. An employee may designate multiples of 1% (ranging from 1% to 80%) of earnings as either pretax contributions, after-tax contributions, Roth contributions or any combination of the three. Contributions are subject to certain Internal Revenue Code (IRC) limitations. Participants may also contribute amounts representing distributions from other qualified plans (rollovers). The Company expects to make matching contributions to match a portion of an employee’s contribution ranging from 0% to 100% of that contribution based on the participant’s years of service, not to exceed 4% of the employee’s earnings. In addition, the Company may make a discretionary annual contribution based on a percentage of the earnings of each participant. No discretionary annual employer contribution was made for the years ended December 31, 2025 or 2024. Investment Options Participants may invest in 24 separate investment funds of the Plan and a stable value fund in proportions elected by the participant. The Company’s matching contributions, as well as any discretionary annual employer contributions, are invested as selected by the participant. In the event that no contribution investment election is made by the participant, the Company’s matching contributions and annual employer contributions are invested in the State Street Target Retirement 2030 SL CL VI fund and are available for immediate reallocation by the participant. Participant Accounts Separate accounts are maintained for each investment option: pretax contributions, after-tax contributions, Roth contributions, rollovers and transfers, and Company contributions and accumulated earnings thereon. Earnings (losses) are allocated daily to each participant’s account in the ratio of the participant’s account balance to total participants’ account balances. Distributions and withdrawals are charged to participant accounts. Benefits Paid To Participants A participant’s total account is distributed upon retirement, disability, death, or termination of employment, unless the account value is greater than $7,000, in which case the participant may defer distribution until age 73. Distributions are made in cash, except that the portion invested in the Company stock fund may be distributed in whole shares of such stock, if requested by the participant or beneficiary. Participants eligible to receive a distribution from the Plan may elect either a lump-sum payment or various installment options offered by the Plan (subject to the IRC’s required minimum distribution rules). Prior to a termination of employment, a participant may withdraw any amount up to the value of his or her entire account subject to certain restrictions (as defined in the Plan). However, no portion of an actively employed participant’s pretax contribution account may be distributed to him or her before age 59 ½, unless the participant is approved for a “hardship” withdrawal as defined in the Plan and consistent with IRC guidelines. Notes Receivable From Participants A participant may apply for a loan at any time provided that the participant is receiving compensation from which payroll deductions can be made. The amount of the loan cannot exceed the lesser of 50% of the participant’s total account, less the outstanding balance of all existing loans, or $50,000, reduced by the highest outstanding balance of existing loans during the 12 months preceding the effective date of such loan. Additionally, participants are generally only permitted to have two loans outstanding at any one time. A loan is considered a note receivable of the Plan. The participant’s account will be reduced by the amount of the loan. Any repayment made will be allocated to the participant’s account in accordance with his or her current investment direction. Loans must generally be repaid in monthly installments through payroll deductions within 60 months. The annual interest rate for a loan is determined by adding 1% to The Wall Street Journal Prime Rate or as otherwise determined by the Administrative Committee at the time the application for the loan is made. The rate may not exceed the maximum rate for such loans permitted by law. The average rate of interest on loans approximated 8.0% and 7.2% as of December 31, 2025 and 2024, respectively.
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