Form 4: Ingredion Executive Acquires Phantom Stock

Ingredion's SVP, CIO & Head of Prot. Fort., Michael J. Leonard, acquired 27.408 phantom stock units on October 15, 2025.

Summary

• Michael J. Leonard, SVP, CIO & Head of Prot. Fort. at Ingredion Inc. (INGR), reported an acquisition of derivative securities.
• The transaction involved 27.408 phantom stock units, allocated under the Supplemental Executive Retirement Plan (SERP).
• Each phantom stock unit represents the right to receive one share of common stock.
• The allocation was based on the closing price of Ingredion's Common Stock on October 15, 2025, which was $120.41 per share.
• Following this transaction, Michael J. Leonard beneficially owns a total of 420.606 phantom stock units.

Sentiment

Score: 5

Explanation: The filing reports a routine executive compensation transaction involving phantom stock, which is neither significantly positive nor negative for the company's immediate outlook.

Positives

• Executive Michael J. Leonard increased his beneficial ownership of phantom stock, which aligns his interests with those of shareholders.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: The acquisition of phantom stock by an executive can be seen as a positive for shareholders, as it further aligns management's long-term interests with shareholder value creation.

Key Dates

Recommendation

This Form 4 reports a routine executive compensation transaction involving phantom stock and does not provide new information that would alter the fundamental investment thesis for Ingredion Inc. Therefore, a 'hold' recommendation is maintained.

Keywords

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