Form 4: Ingredion Executive Reports Phantom Stock Acquisition

Ingredion's SVP, CIO & Head of Prot. Fort. Michael J. Leonard reported the acquisition of 25.09 phantom stock units valued at $131.54 per unit, bringing his total beneficial ownership to 287.8 units.

Summary

• Michael J. Leonard, SVP, CIO & Head of Prot. Fort. at Ingredion Inc. (INGR), acquired 25.09 phantom stock units.
• The transaction occurred on July 31, 2025.
• Each phantom stock unit was valued at $131.54, based on Ingredion's common stock closing price on July 31, 2025.
• These units were allocated under the company's Supplemental Executive Retirement Plan (SERP).
• Following this acquisition, Leonard's total beneficial ownership of phantom stock units is 287.8, which includes units acquired through dividend reinvestment.
• Each phantom stock unit represents the right to receive one share of common stock.

Sentiment

Score: 6

Explanation: The filing reports a routine acquisition of phantom stock units by a senior executive as part of a pre-existing compensation plan, which generally indicates continued alignment of management interests with shareholder value. It is not indicative of significant positive or negative operational performance.

Positives

• Executive compensation structure aligns management interests with shareholder value through phantom stock units.
• The acquisition of phantom stock units is part of a Supplemental Executive Retirement Plan (SERP), indicating a structured long-term incentive for the executive.

Future Outlook

NA

Industry Context

This filing reflects a standard executive compensation practice where phantom stock units are used to align executive interests with long-term company performance, common across various industries.

Comparison to Industry Standards

• The use of phantom stock as part of a Supplemental Executive Retirement Plan (SERP) is a common executive compensation mechanism across publicly traded companies, aiming to provide long-term incentives and align executive interests with shareholder value.

Related Party Transactions

• The acquisition of phantom stock units by a senior executive under the company's Supplemental Executive Retirement Plan (SERP) constitutes a routine related-party transaction as part of executive compensation.

Stakeholder Impact

• Shareholders: Executive's interests are further aligned with shareholder value through long-term equity incentives.

Key Dates

Keywords

Ingredion, INGR, SEC Form 4, Insider Trading, Phantom Stock, Executive Compensation, SERP, Michael J. Leonard