4/A: Ingredion Inc. Executive Corrects Stock Ownership Filing After Tax Withholding

Larry Fernandes, SVP, Chief Comm & Sust Officer of Ingredion Inc., amends a previous SEC filing to accurately reflect stock ownership after shares were withheld for tax obligations related to restricted stock units.

Summary

• Larry Fernandes, a senior executive at Ingredion Inc., filed an amended Form 4/A with the SEC to correct a previous filing regarding changes in beneficial ownership of company stock.
• The amendment addresses an error in the original filing related to the number of stock options held by Fernandes.
• The correction was necessary because shares were withheld to cover applicable taxes arising from the vesting of restricted stock units (RSUs) granted on February 13, 2024, and Fernandes' attainment of retirement eligibility under the 2023 Ingredion Stock Incentive Plan.
• The tax withholding occurred with respect to the participant's RSUs.
• The amount of the participant's stock options was unaffected.
• As of October 10, 2024, Fernandes directly owns 29,008.2738 shares of Ingredion Inc. common stock and indirectly owns 6,086.728 shares through a 401(k) plan.
• Fernandes also holds options to purchase 5,934 shares of common stock at an exercise price of $108.38, which vest in three equal annual installments starting February 13, 2025.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing correcting a previous error. It doesn't contain any information that would significantly impact investor sentiment positively or negatively. The correction ensures accurate reporting, which is a positive aspect of corporate governance.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the holdings and transactions of company insiders.

Comparison to Industry Standards

• Executive compensation practices, including the use of stock options and restricted stock units, are common across the food and beverage industry.
• Companies like Archer Daniels Midland (ADM) and Bunge Limited (BG) also utilize similar equity-based compensation plans to align executive interests with shareholder value.
• The vesting schedules and exercise prices of stock options are generally in line with industry norms, designed to incentivize long-term performance.

Stakeholder Impact

• The correction of the filing ensures transparency for shareholders regarding executive stock ownership.
• The tax withholding related to RSUs impacts the executive's personal finances but doesn't directly affect other stakeholders.

Key Dates