Form 4: Ingevity Corp Executive Phillip John Platt Reports Changes in Beneficial Ownership

Phillip John Platt, CAO & VP, Bus Transform Lead of Ingevity Corp, reports acquisition and disposal of common stock related to RSU vesting and tax obligations.

Summary

• On February 28, 2024, Phillip John Platt, CAO & VP, Bus Transform Lead of Ingevity Corp, reported changes in beneficial ownership of the company's common stock.
• 109 shares were withheld to cover tax obligations related to the vesting of 2022 restricted stock units (RSUs) at a price of $45.27.
• An additional 230 shares were withheld to cover tax obligations related to the vesting of 2023 RSUs at a price of $45.27.
• Platt was granted 2,805 shares of RSUs and 786 shares of RSUs pursuant to the Ingevity Corporation 2016 Omnibus Incentive Plan.
• These RSUs will vest in three equal installments on February 28, 2025, 2026, and 2027.
• Following these transactions, Platt beneficially owns 16,426 shares of Ingevity Corp common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The filing reflects standard executive compensation practices and insider alignment with shareholder interests through equity ownership.

Positives

• The grant of RSUs to Mr. Platt aligns his interests with those of the shareholders, incentivizing him to contribute to the company's long-term success.

Future Outlook

The granted RSUs will vest in three equal installments on February 28, 2025, 2026, and 2027.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices through the use of RSUs.

Stakeholder Impact

• The transactions have a minor positive impact on shareholders by aligning management's interests with the company's long-term performance.

Key Dates