Form 4: Ingredion Executive Michael Leonard Reports Acquisition of Phantom Stock Units

Ingredion Inc.'s SVP, CIO & Head of Prot. Fort., Michael J. Leonard, reported the acquisition of 23.87 phantom stock units under the company's Supplemental Executive Retirement Plan.

Summary

• Michael J. Leonard, SVP, CIO & Head of Prot. Fort. at Ingredion Inc. (INGR), reported a change in beneficial ownership via an SEC Form 4 filing.
• On June 13, 2025, Mr. Leonard acquired 23.87 units of phantom stock.
• These phantom stock units were allocated under the company's Supplemental Executive Retirement Plan (SERP).
• Each phantom stock unit represents the right to receive one share of Ingredion's common stock.
• The allocation was based on the closing price of Ingredion's common stock, which was $138.26 on June 13, 2025.
• Following this allocation, Mr. Leonard beneficially owns a total of 212.394 phantom stock units directly.

Sentiment

Score: 6

Explanation: The filing is a routine disclosure of executive compensation, which is generally a neutral to slightly positive event as it aligns executive interests with shareholders. It does not indicate any significant positive or negative operational or financial news.

Positives

• The acquisition of phantom stock units indicates continued participation in the company's long-term incentive plans, aligning executive interests with shareholder value.

Future Outlook

This Form 4 filing is a disclosure of an executive's beneficial ownership change and does not contain forward-looking statements or guidance regarding the company's future performance.

Industry Context

This filing is a routine disclosure of executive compensation and beneficial ownership, common across all publicly traded companies. It does not provide specific insights into broader industry trends for the food ingredient sector, but rather reflects standard corporate governance and executive incentive practices.

Comparison to Industry Standards

• The allocation of phantom stock units under a Supplemental Executive Retirement Plan (SERP) is a common form of executive compensation and retention strategy across various industries, including the food processing and ingredient sector.
• While specific comparable companies or projects are not detailed in this filing, such plans are widely utilized by companies like Archer-Daniels-Midland (ADM), Bunge (BG), and Tate & Lyle (TATYY) to align executive interests with long-term shareholder value.
• The specific number of units and their value are tied to the individual's compensation structure and the company's stock performance, consistent with typical executive incentive programs.

Stakeholder Impact

• Shareholders: The allocation of phantom stock aligns executive incentives with shareholder value, potentially encouraging long-term performance.
• Employees: No direct impact on general employees is indicated by this executive compensation disclosure.
• Customers/Suppliers/Creditors: No direct impact on these stakeholders is indicated by this filing.

Key Dates

Keywords

Ingredion Inc, INGR, SEC Form 4, Beneficial Ownership, Phantom Stock, Executive Compensation, Michael J. Leonard, Supplemental Executive Retirement Plan, Insider Trading Disclosure