Form 4: Ingevity Corp EVP & CFO Mary Dean Hall Reports Changes in Beneficial Ownership

Mary Dean Hall, EVP & CFO of Ingevity Corp, reports acquisition and disposal of common stock related to vesting of restricted stock units and tax obligations.

Summary

• On February 28, 2024, Mary Dean Hall, EVP & CFO of Ingevity Corp, reported changes in beneficial ownership of the company's common stock.
• 321 shares were disposed of to satisfy tax withholding obligations related to the 2022 restricted stock units (RSUs) that vested on February 28, 2024, at a price of $45.27.
• 534 shares were disposed of to satisfy tax withholding obligations related to the 2023 RSUs that vested on February 28, 2024, at a price of $45.27.
• 9,013 shares were acquired through the grant of RSUs pursuant to the Ingevity Corporation 2016 Omnibus Incentive Plan, vesting in three equal installments on February 28, 2025, 2026, and 2027.
• 3,697 shares were acquired through the grant of RSUs pursuant to the Ingevity Corporation 2016 Omnibus Incentive Plan, vesting in three equal installments on February 28, 2025, 2026, and 2027.
• Following these transactions, Hall directly owns 34,298 shares of Ingevity Corp common stock.

Sentiment

Score: 6

Explanation: The document reflects standard executive compensation practices. There are no indications of unusual or concerning activity. The sentiment is neutral to slightly positive due to the alignment of management and shareholder interests.

Positives

• The grant of RSUs to the EVP & CFO aligns her interests with the long-term performance of the company.
• The vesting schedule of the RSUs (February 28, 2025, 2026, and 2027) encourages continued service and commitment.

Future Outlook

The document indicates future vesting dates for RSUs in February 2025, 2026, and 2027, suggesting continued equity-based compensation for the reporting person.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency regarding the alignment of management's interests with shareholders.

Comparison to Industry Standards

• Equity compensation in the form of RSUs is a standard practice among publicly traded companies to incentivize executives.
• Vesting schedules, such as the three-year vesting period for these RSUs, are typical to ensure retention and long-term commitment.
• Tax withholding practices related to RSU vesting are also standard procedure.

Stakeholder Impact

• Shareholders are informed about changes in the executive's ownership stake, providing transparency.
• Employees may view the RSU grants as a positive sign of the company's commitment to its leadership.

Key Dates