Form 4: Ingredion Executive Acquires Phantom Stock

Ingredion's SVP, CIO & Head of Protective Fortification, Michael J. Leonard, acquired 30.688 shares of phantom stock under the company's SERP.

Summary

• Michael J. Leonard, Ingredion Inc.'s SVP, CIO & Head of Protective Fortification, acquired 30.688 units of phantom stock.
• The transaction occurred on November 28, 2025, and was an allocation under the company's Supplemental Executive Retirement Plan (SERP).
• Each phantom stock unit represents the right to receive one share of common stock.
• The phantom stock was valued at $107.54 per unit, based on the closing price of Ingredion's Common Stock on the transaction date.
• Following this transaction, Michael J. Leonard beneficially owns an aggregate of 513.417 units of phantom stock.

Sentiment

Score: 6

Explanation: The filing reports a routine executive compensation event, which is generally neutral but can be seen as slightly positive due to executive alignment with shareholder interests.

Positives

• The allocation of phantom stock aligns the executive's long-term interests with shareholder value, as the units represent a right to receive common stock.
• This transaction is a component of executive compensation, which can aid in retaining key management personnel.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Allocation of phantom stock to Michael J. Leonard, SVP, CIO & Head of Protective Fortification, under the company's Supplemental Executive Retirement Plan (SERP).

Stakeholder Impact

• Shareholders: The allocation of phantom stock aligns the executive's long-term interests with shareholder value, as the phantom stock units represent a right to receive common stock.
• Management/Executives: The transaction represents a component of Michael J. Leonard's compensation, incentivizing retention and performance.

Key Dates

Recommendation

This Form 4 reports a routine allocation of phantom stock to a senior executive as part of their compensation plan. Such transactions are standard and generally do not provide new information that would warrant a change in investment recommendation.

Keywords

Ingredion, INGR, Form 4, insider transaction, phantom stock, executive compensation, SERP, Michael J. Leonard