Form 4: Ingredion Executive Michael Leonard Reports Routine Phantom Stock Allocation

Ingredion Inc. SVP Michael J. Leonard reported the allocation of 23.723 phantom stock units under the company's Supplemental Executive Retirement Plan, bringing his total direct beneficial ownership to 188.524 phantom stock units.

Summary

• Michael J. Leonard, Senior Vice President, Chief Information Officer & Head of Protective Fortification at Ingredion Inc. (INGR), reported a transaction on May 30, 2025.
• The transaction involved the acquisition of 23.723 phantom stock units.
• These units were allocated to Mr. Leonard under the company's Supplemental Executive Retirement Plan (SERP).
• The allocation was based on the closing price of Ingredion's common stock on May 30, 2025, which was $139.12 per share.
• Each phantom stock unit represents the right to receive one share of common stock.
• Following this transaction, Mr. Leonard directly beneficially owns a total of 188.524 phantom stock units.

Sentiment

Score: 5

Explanation: The document reports a routine executive compensation allocation, which is neither significantly positive nor negative for the company's immediate outlook or operational performance.

Positives

• The allocation of phantom stock units to a key executive like Michael J. Leonard aligns his interests with long-term shareholder value, as the value of these units is tied to the company's common stock performance.

Future Outlook

NA

Management Comments

• "Each phantom stock unit represents the right to receive one share of common stock."

Industry Context

This Form 4 filing details a routine executive compensation event, specifically the allocation of phantom stock, which is a common practice across various industries to incentivize and retain senior management by linking their long-term compensation to company performance.

Related Party Transactions

• Allocation of 23.723 phantom stock units to SVP Michael J. Leonard under the company's Supplemental Executive Retirement Plan (SERP), representing a compensation transaction between the company and a key executive.

Stakeholder Impact

• Shareholders: The allocation of phantom stock units is a form of executive compensation that aligns management's interests with shareholder value, though it represents a future potential dilution upon conversion.
• Employees: No direct impact on general employees is indicated by this specific filing.

Key Dates

Recommendation

Keywords

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