Form 4: Ingredion Executive Acquires Phantom Stock

Ingredion's SVP, CIO & Head of Prot. Fort., Michael J. Leonard, acquired 26.686 phantom stock units on September 15, 2025.

Summary

• Michael J. Leonard, Senior Vice President, Chief Information Officer & Head of Protective Fortification at Ingredion Inc (INGR), reported an acquisition of phantom stock.
• The transaction occurred on September 15, 2025.
• Leonard acquired 26.686 phantom stock units.
• Each phantom stock unit represents the right to receive one share of common stock.
• The phantom stock units were allocated under the company's Supplemental Executive Retirement Plan (SERP).
• The allocation was based on the closing price of Ingredion's Common Stock, which was $123.67 per share on September 15, 2025.
• Following this transaction, Michael J. Leonard beneficially owns 366.171 derivative securities (phantom stock units).

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as it indicates routine executive compensation and alignment of management interests with shareholders, but it is a standard, non-eventful transaction that does not significantly alter the company's outlook.

Positives

• The acquisition of phantom stock aligns the executive's financial interests with those of the shareholders, as the value of these units is tied to the company's common stock performance.
• This transaction is part of a structured executive compensation plan (SERP), indicating a commitment to long-term incentives for key management.

Future Outlook

This filing does not contain specific forward-looking statements or guidance regarding the company's future performance or strategic direction, focusing solely on an executive's compensation-related transaction.

Industry Context

Executive compensation, particularly through equity-linked instruments like phantom stock, is a common practice across industries. It serves to incentivize management by linking their personal wealth to the company's stock performance, fostering long-term value creation. This type of transaction is routine for publicly traded companies as part of their Supplemental Executive Retirement Plans (SERPs).

Stakeholder Impact

• Shareholders: The transaction aligns the interests of a key executive with shareholders, potentially encouraging decisions that enhance long-term stock value.

Key Dates

Keywords

Ingredion, INGR, Form 4, Insider Transaction, Phantom Stock, Executive Compensation, Michael J. Leonard, SERP, Derivative Securities