United States

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 11-K

 

ANNUAL REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES

EXCHANGE ACT OF 1934

 

For the year ended December 31, 2023

 

Commission file number 1-12984

 

EAGLE MATERIALS INC. RETIREMENT PLAN

(Full title of the plan)

 

EAGLE MATERIALS INC.

5960 Berkshire Lane, Suite 900
Dallas, Texas 75225

 

(Name of issuer and address of principal executive office)

 

 

 

 

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EAGLE MATERIALS INC. RETIREMENT PLAN

FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULE

AT DECEMBER 31, 2023 AND 2022,

AND FOR THE YEAR ENDED DECEMBER 31, 2023

 

 

	PAGE NO.
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
AUDITED FINANCIAL STATEMENTS
Statements of Net Assets Available for Benefits	3
Statement of Changes in Net Assets Available for Benefits	4
Notes to Financial Statements	5
SUPPLEMENTAL SCHEDULES
Schedule H: Line 4i – Schedule of Assets (Held at Year End)	13
Index to Exhibits	14
Signatures	15
EXHIBITS
23 Consent of Independent Registered Public Accounting Firm

 

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Report of Independent Registered Public Accounting Firm

 

Plan Administrator and Participants

Eagle Materials Inc. Retirement Plan

Dallas, Texas

 

Opinion on the Financial Statements

 

We have audited the accompanying statements of net assets available for benefits of the Eagle Materials Inc. Retirement Plan (the “Plan”) as of December 31, 2023 and 2022 the related statement of changes in net assets available for benefits for the year ended December 31, 2023, and the related notes (collectively, the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2023 and 2022, and the changes in net assets available for benefits for the year ended December 31, 2023, in conformity with accounting principles generally accepted in the United States of America.

 

Basis for Opinion

 

These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

 

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion.

 

Our audits included performing procedures to assess the risk of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by the Plan’s management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

 

Supplemental Information

 

The supplemental information in the accompanying schedule of assets (held at end of year) as of December 31, 2023 has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is presented for the purpose of additional analysis and is not a required part of the financial statements but included supplemental information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental information is the responsibility of the Plan’s management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information,

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including its form and content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ BDO USA, P.C.

 

We have served as the Plan’s auditor since 2022.

Dallas, Texas

June 18, 2024

 

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Eagle Materials Inc. Retirement Plan

Statements of Net Assets Available for Benefits

 

At December 31, 2023 and 2022

 

 

		December 31,
		2023				2022
Assets:
Investments at fair value		$	230,309,223			$	191,554,782
Fully benefit-responsive investment contract at contract value			8,034,896				11,087,459
Total Investments			238,344,119				202,642,241
Notes receivable from participants			5,264,124				4,555,020
Employer's contribution receivable			9,520,104				8,754,999
Total Assets			253,128,347				215,952,260
Net Assets Available for Benefits		$	253,128,347			$	215,952,260

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

See accompanying notes to financial statements.

 

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Eagle Materials Inc. Retirement Plan

Statement of Changes in Net Assets Available for Benefits

 

Year ended December 31, 2023

 

 

Additions:
Participating employers’ contributions		$	11,127,742
Participant contributions			13,264,760
Participant rollovers			1,453,011
Interest and dividends from investments			630,054
Net gains from investments			38,387,149
Interest income on notes receivable from participants			311,570
Total additions			65,174,286
Deductions:
Benefits paid to participants			(27,967,134	)
Administrative expenses			(31,065	)
Total deductions			(27,998,199	)
Net increase/(decrease)			37,176,087
Net assets available for benefits at Beginning of Year			215,952,260
Net assets available for benefits at End of Year		$	253,128,347

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

See accompanying notes to financial statements.

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NOTE 1. DESCRIPTION OF THE PLAN

The following description of the Eagle Materials Inc. Retirement Plan (the Plan) provides only general information. Participants should refer to the Plan document for a more complete description of the Plan’s provisions.

General

The Plan, established April 1, 1994 and amended and restated January 1, 2019, is a defined contribution retirement plan covering eligible employees of Eagle Materials Inc. (the Company or Employer) and eligible employees of other related corporations which adopt the Plan with the Company’s consent. The Company and certain subsidiaries collectively comprise the “Participating Employers.” The Plan is administered by the Administrative Committee (the Committee) appointed by the Board of Directors of the Company. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA).

Acquisition and Sales of Subsidiaries

During April 2022, the Company purchased Raptor Materials (Raptor). Employees of Raptor were eligible to participate in the Plan beginning with the date of acquisition. During May 2023, the Company purchased the Stockton Terminal (Stockton). Employees of Stockton were eligible to participate in the Plan as employees of Nevada Cement Company at the date of acquisition.

Eligibility

The Plan has three distinct types of eligible employees: (1) employees eligible to participate in the employer profit sharing contributions, (2) employees eligible to participate in employer matching contributions or (3) employees not eligible to participate in any employer contribution. Eligible employees may not participate in both employer profit sharing and matching contributions, except as provided by Plan exception. Eligible employees of the Participating Employers participate in profit sharing contributions on the earlier of January 1 or July 1 after completing one year of service, as defined. One year of service, for purposes of eligibility, is defined as a consecutive twelve month period during which the employee worked 1,000 hours, ending on the first anniversary of the employee’s date of hire. Hourly employees of Republic Paperboard Company, LLC, a subsidiary of the Company, may participate in matching contributions on the date the employee first performs an hour of service for the Employer, as defined. Hourly employees of Audubon Materials, Tulsa Cement Company, Illinois Cement Company, Fairborn Cement Company, Kosmos Cement Company, Battletown Materials, and Nevada Cement Company may also participate in matching contributions during the calendar year. Eligible employees are automatically enrolled in the Plan upon eligibility unless they opt out of the plan.

A member of a group or class of employees covered by a collective bargaining agreement is not eligible to participate in the Plan unless such agreement extends the Plan to such group or class of employees.

Contributions

The Plan permits participants to contribute pre-tax up to 100% of their compensation, up to a statutory limit, as defined, to a 401(k) account upon the date of hire. Participants may contribute a portion of their compensation, as defined by the Plan, limited to the maximum amount permitted under the applicable Internal Revenue Code (the Code) regulations and the Plan document. Participants may also contribute amounts representing distributions from other qualified defined benefit and defined contribution plans.

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NOTE 1. DESCRIPTION OF THE PLAN (continued)

Participants who have been auto-enrolled in the Plan will be deemed to have elected to contribute 3% to the Plan, with a 1% automatic increase annually up to a maximum of 7%. An Automatic Enrollment Participant who elects not to make Automatic Contributions or elects to cease such contributions to the Plan may elect to defer a percentage of their Compensation as Pre‑Tax Contributions, Roth Contributions, and/or After-Tax Contributions at any time.

Profit sharing contributions are made by the Participating Employers as determined by the Company’s Board of Directors. Profit sharing contributions are made to all eligible participants employed on December 31 of each year, and are allocated to participant accounts on a pro rata basis determined by each participant’s number of hours worked. Eligible employees of certain subsidiaries receive Employer nondiscretionary matching contributions. These matching contributions are generally allocated to each employee’s participant account based on a certain percentage of each employee’s eligible contribution, up to a certain percentage or dollar amount annually, as defined by the Plan. Participating Employers, at their sole discretion, may make qualified non-elective contributions to the Plan. No such contributions were made for the 2023 or 2022 Plan year. Forfeitures may be used to reduce employer contributions or administrative expenses of the Plan. Accrued discretionary employer profit sharing contributions to the Plan were reduced by assumed forfeitures of $300,000 at December 31, 2023 and December 31, 2022. Forfeitures available for future use totaled approximately $347,000 and $409,000 at December 31, 2023 and 2022, respectively.

Participants direct the investment of their accounts into various registered investment company funds, collective trusts, a guaranteed investment contract, self-directed brokerage account, or the Eagle Materials Common Stock Fund (EXPSF). The EXPSF is a unitized stock fund.

Participants may allocate up to 15% of employer and participant contributions to the EXPSF, whereas up to 100% may be allocated to any other investment option offered by the Plan.

Administrative Expenses

Certain administrative expenses of the Plan are paid by the Company and are excluded from these financial statements. The Plan is not required to reimburse the Company for any administrative expenses paid by the Company. Expenses not paid by the Company are paid by the Plan.

Benefit Claims Payable

Benefit Claims payable relate to claims for benefits that have been processed and approved prior to the end of the year, but not paid until the subsequent year. We had no benefit claims payable at December 31, 2023 and 2022.

Vesting

Matching Contributions – Participants’ Employer nondiscretionary matching contributions do not vest until the completion of four years of vesting service, as defined.

Profit Sharing Contributions – Participants’ Employer profit sharing contributions do not fully vest until the completion of four years of vesting service, as defined.

Participants are fully vested in all contributions upon retirement, full and permanent disability, or death.

 

 

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NOTE 1. DESCRIPTION OF THE PLAN (continued)

The Plan provides for distributions when a participant terminates employment and the fair value of the participant’s vested accrued benefit is equal to or less than $5,000. A summary of such provisions follows:

Participants are always fully vested in their participant contributions, related earnings and participant rollovers.

Notes Receivable from Participants

Notes receivable from participants represent loans that are recorded at their unpaid principal balance plus any accrued but unpaid interest. Plan participants may borrow from their accounts an amount generally not to exceed the lesser of $50,000 or 50% of their vested account balance. The repayment terms of loans may not exceed five years except for loans used to acquire a principal residence. Each loan bears interest at a reasonable rate based on lending in similar situations. The current interest rate for new loans is set at the Wall Street Journal prime rate plus two percent. Principal and interest are paid ratably through automatic payroll deductions. If a participant ceases to make loan repayments and the Plan administrator deems the loan to be a distribution, notes receivable from participants is reduced and a benefit payment is recorded.

Distributions

In accordance with the Plan document, distribution of a participant’s vested account is available upon the participant’s retirement, death, disability, termination of employment, or attainment of age 59½; or distribution is available to satisfy a financial hardship meeting the requirements of the Internal Revenue Service (IRS) regulations. Distributions are made in a lump-sum payment, a direct rollover distribution, or a combination thereof.

Termination of the Plan

Although the Employer has not expressed intent to terminate the Plan, it may do so at any time subject to the requirements of ERISA. If the Plan is terminated, participants will become fully vested in their Participating Employers’ contributions, and the method of distribution of assets will be in accordance with the provisions of ERISA.

Basis of Presentation

The accompanying financial statements have been prepared on the accrual basis of accounting. Distributions to participants are recorded when paid.

 

 

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NOTE 2. SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

Contributions and Contributions Receivable

The contributions are recorded on the accrual method of accounting. Contributions receivable are obligations arising from amounts owed to the Plan from the Employer that have not been included in the Plan's investments at year end.

Investment Valuation and Income Recognition

All of the Plan’s investments are included in a trust, and are governed by a trust agreement with the Trustee which is held accountable by and reports to the Committee.

Investments included in the trust are included in collective trusts and interests in registered investment companies, and are valued at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Plan presents the net change in fair value of common stock, mutual funds and collective trusts, which consists of realized gains or losses, unrealized appreciation (depreciation), and any income or capital gain distributions from such investments, in the accompanying statement of changes in net assets available for benefits.

Under the Fair Value Measurements and Disclosures topic of the Codification, ASC 820, disclosures are required about how fair value is determined for assets and liabilities and a hierarchy for which these assets and liabilities must be grouped is established, based on significant levels of inputs as follows:

Level 1 - Quoted prices in active markets for identical assets or liabilities.

Level 2 - Inputs other than quoted prices included in level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.

A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The following is a description of the valuation methodologies used for instruments measured at fair value, including the general classification of such instruments pursuant to the valuation hierarchy.

Common Stock

Common stock is valued at the closing price reported on the New York Stock Exchange Composite Listing and is classified within level 1 of the valuation hierarchy.

 

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NOTE 2. SIGNIFICANT ACCOUNTING POLICIES (continued)

Mutual Funds

These investments are public investment vehicles valued using the Net Asset Value (“NAV”) provided by the administrator of the fund. The NAV is based on the value of the underlying assets owned by the fund, minus its liabilities, and then divided by the number of shares outstanding. The NAV is a quoted price in an active market.

All security transactions are recorded on the trade date. Gains and losses on the disposal of investments are determined based on the average cost of all securities. Dividend income is recorded on the effective date of a declared dividend. Income from other investments is recorded as earned on an accrual basis.

Net investment income is then allocated to participants on a pro rata basis. Administrative expenses for the year ended December 31, 2023 include Trustee and record keeper fees. Fund management fees and administrative fees are charged directly to the Plan.

Self-Directed Brokerage Accounts

Self-directed brokerage accounts include investments in various securities, primarily stocks, bonds, mutual funds and cash and cash equivalents. These investments are valued using quoted prices in active markets.

Collective Trusts

The Plan holds investments in collective trusts which are managed by the Trustee and which invest in assets, including fixed income investments, bonds and real estate. The fair value of the units of these investments is valued at NAV per unit, as determined by the Trustee. The NAV is used as the practical expedient to estimate fair value. The Collective trusts are direct filing entities.

Below are the Plan’s investments at fair value on a recurring basis by the fair value hierarchy levels described above:

		Assets at Fair Value at December 31, 2023
		Level 1				Level 2				Total
Mutual funds		$	6,799,837			$	—			$	6,799,837
Self-directed brokerage account			2,703,951				283,419				2,987,370
Common stock			12,404,275				—				12,404,275
Collective trusts measured at NAV*			—				—				208,117,741
Total Investments		$	21,908,063			$	283,419			$	230,309,223
		Assets at Fair Value at December 31, 2022
		Level 1				Level 2				Total
Mutual funds		$	16,212,932			$	—			$	16,212,932
Self-directed brokerage account			2,462,477				231,711				2,694,188
Common stock			8,953,160				—				8,953,160
Collective trust measured at NAV*			—				—				163,694,502
Total Investments		$	27,628,569			$	231,711			$	191,554,782

 

* Certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The investments measured at fair value using the NAV per share have a daily redemption frequency and have no commitments. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statements of net assets available for benefits.

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NOTE 2. SIGNIFICANT ACCOUNTING POLICIES (continued)

Recent Accounting Pronouncements

There were no new or pending Accounting Pronouncements that impacted the Plan in 2023 or 2022, or that are expected to impact the Plan in 2024.

NOTE 3. GUARANTEED INVESTMENT CONTRACT

At December 31, 2023, the Plan holds an investment in the New York Life Anchor Account, which is a Guaranteed Insurance Contract (GIC). New York Life maintains the contributions in a general account. The account is credited with earnings on the underlying investments and charged for participant withdrawals and administrative expenses. The contract is included in the financial statements at contract value as reported by New York Life. The issuer of the GIC is contractually obligated to repay the principal and a specified interest rate that is guaranteed to the Plan.

The GIC is fully benefit-responsive and contract value is the relevant measurement attribute for that portion of the net assets available for benefits attributable to the GIC. Contract value, as reported to the Plan by New York Life, represents contributions made under the contract, plus earnings, less participant withdrawals, and administrative expenses. Participants may ordinarily direct the withdrawal or transfer of all or a portion of their investment at contract value.

There are generally no events that limit the availability of the Plan to transact at the contract value paid within 90 days or in rare circumstances, contract value paid over time. There are no events that allow the issuer to terminate the contract and which require the Plan administrator to settle at an amount different than contract value paid either within 90 days or over time.

NOTE 4. INCOME TAX STATUS

The Plan has received a determination letter from the Internal Revenue Service (IRS) dated July 21, 2010, stating that the Plan is qualified under Section 401(a) of the Code and, therefore, the related trust is exempt from taxation. Subsequent to this determination by the IRS, the Plan was amended. On April 28, 2015, the Plan received an updated determination letter from the IRS stating that the Plan is qualified under Section 401(a) of the Code reaffirming that the related trust is exempt from taxation. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification.

The Plan had no significant uncertain tax positions for the year ended December 31, 2023. The Plan’s Annual Return/Report of Employee Benefit Plan is subject to examination by the IRS for three years from the date of filing.

NOTE 5. RELATED PARTY TRANSACTIONS AND PARTY-IN-INTEREST TRANSACTIONS

Certain Plan investments are shares of mutual funds managed by the Trustee and, therefore, these transactions qualify as party-in-interest transactions. Fees incurred by the Plan for the investment management services are included as a reduction of the return earned on each fund.

The Trustee provides certain administrative services to the Plan pursuant to an agreement between the Company and the Trustee. The Trustee receives revenue from mutual fund and collective trust service providers for services the Trustee provides to the funds. This revenue is used to offset certain amounts owed to the Trustee for its administrative services to the Plan.

 

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NOTE 5. RELATED PARTY TRANSACTIONS AND PARTY-IN-INTEREST TRANSACTIONS (continued)

If the revenue received by the Trustee from such mutual fund or collective trust fund service providers exceeds the amount owed under the agreement between the Trustee and the Company, the Trustee remits the excess to the Plan’s trust. Such amounts may be applied to pay Plan administrative expenses.

The Plan invests in common stock of Eagle Materials Inc. (Eagle Common Stock). During the years ended December 31, 2023, and 2022, the Plan purchased and sold shares of Eagle Common Stock for approximately $453,000 and $471,000, respectively. The stock held in the Plan experienced net gain of approximately $4,710,000 in 2023.

NOTE 6. RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500

The following is a reconciliation of net assets available for benefits per the financial statements to the Form 5500 at December 31, 2023 and 2022:

 

		December 31,
		2023				2022
Net assets available for benefits per the financial statements		$	253,128,347			$	215,952,260
Employer's contribution receivable			(9,520,104	)			(8,754,999	)
Net assets available for benefits per the Form 5500		$	243,608,243			$	207,197,261
						December 31,
						2023
Net increase in assets available for benefits reported in the financial statements						$	37,176,087
Change in contributions receivable							(765,105	)
Change in net assets available for benefits per the Form 5500						$	36,410,982

 

NOTE 7. RISKS and Uncertainties

Plan assets are invested in funds and securities as directed by Plan participants. These investment securities, in general, are exposed to various risks, such as interest rate, credit, and overall market volatility. Accordingly, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the Statements of Net Assets Available for Benefits.

 

NOTE 8. SUBSEQUENT EVENTS

Subsequent events have been evaluated through the date the financial statements were issued and all necessary disclosures have been included.

 

 

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SUPPLEMENTAL SCHEDULE

 

 

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EAGLE MATERIALS INC. RETIREMENT PLAN

schedule h; line 4i – SCHEDULE OF ASSETS (HELD AT END OF YEAR)

 

EIN#: 75-2520779

PLAN #: 001

 

DECEMBER 31, 2023

 

(a)

(b) Identity of Issue, Borrower, Lessor, or Similar Party

(C) Description of Investment, Including Maturity Date, Rate of Interest, Collateral, Par, or Maturity Value

(d) Cost

(e) Current Value

*

Brokerage Link

Participant Directed Investments

**

$

2,703,951

*

Eagle Materials Inc.

Common Stock

**

12,650,340

*

Fidelity

Government MMKT

**

37,353

Great Grey Trust

Euro-Pacific Growth Trust Class CT

**

2,983,192

Harbor Capital

Appreciation Fund CIT Class R

**

9,219,491

Metropolitan West

Total Return Bond Fund Class

**

2,262,502

MFS

Large Cap Value CT

**

5,534,058

MFS

Mid Cap Value Fund CT

**

6,891,700

MFS

Mid Cap Growth Fund CT

**

6,689,548

Northern Trust

ACWI Ex-US Investable Market Index Tier Four

**

1,681,462

Northern Trust

Aggregate Bond Index Fund Non-Lending Tier Four

**

3,490,221

Northern Trust

Extended Equity Market Index Fund-DC Non-Lending Tier Four

**

4,151,715

Northern Trust

S&P 500 Index Fund-DC Non-Lending Tier Four

**

25,092,827

NY Life

Guaranteed Investment Contract at 3.25%

**

8,034,896

Principal

Principal SmallCap Growth I R6

**

2,279,229

Vanguard

Vanguard Target Retirement 2020 Fund

**

14,723,109

Vanguard

Vanguard Target Retirement 2025 Fund

**

8,775,620

Vanguard

Vanguard Target Retirement 2030 Fund

**

35,907,606

Vanguard

Vanguard Target Retirement 2035 Fund

**

7,863,974

Vanguard

Vanguard Target Retirement 2040 Fund

**

36,325,956

Vanguard

Vanguard Target Retirement 2045 Fund

**

6,855,913

Vanguard

Vanguard Target Retirement 2050 Fund

**

13,190,500

Vanguard

Vanguard Target Retirement 2055 Fund

**

5,135,627

Vanguard

Vanguard Target Retirement 2060 Fund

**

6,459,651

Vanguard

Vanguard Target Retirement 2065 Fund

**

1,368,305

Vanguard

Vanguard Target Retirement 2070 Fund

**

160,150

Vanguard

Vanguard Target Retirement Income Fund

**

5,617,117

Wells Fargo

Special SmallCap Value Fund R6

**

2,258,106

*

Participants

Notes receivable with interest rates from 5.25% to 10.50%.

—

5,264,124

Total

$

243,608,243

 

*Party-in-interest.

**Cost omitted for participant directed investments

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INDEX TO EXHIBITS

 

Eagle Materials Inc. Retirement Plan

 

 

Exhibit Number	Exhibit		Filed Herewith or Incorporated by Reference
23	Consent of BDO USA, P.C.		Filed Here Within

 

 

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Administrative Committee which administers the Eagle Materials Inc. Retirement Plan has duly caused this Annual Report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

EAGLE MATERIALS INC. RETIREMENT PLAN

 

 

 

 

Date:	June 18, 2024	By:	/s/ D. Craig Kesler
			D. Craig Kesler, Chairman, Administrative Committee

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Exhibit 23

Consent of Independent Registered Public Accounting Firm

Eagle Materials Inc. Retirement Plan

Dallas, Texas

 

We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 (33-82928 and 33-84394) of Eagle Materials Inc. of our report dated June 18, 2024, relating to the financial statements and supplemental schedule of Eagle Materials Inc. Retirement Plan which appear in this Form 11-K for the year ended December 31, 2023.

/s/ BDO USA, P.C.

Dallas, Texas

June 18, 2024

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