Form 4: Ingredion Inc. Executive Michael J. Leonard Reports Phantom Stock Acquisition

Michael J. Leonard, SVP, CIO & Head of Prot. Fort. at Ingredion Inc., acquired 10,763 phantom stock units on January 31, 2025.

Summary

• Michael J. Leonard, a Senior Vice President at Ingredion Inc., reported the acquisition of 10,763 phantom stock units.
• These phantom stock units were allocated to him 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 acquisition was based on the closing price of Ingredion's common stock on January 31, 2025, which was $136.44 per share.
• Following this transaction, Mr. Leonard now beneficially owns 21,819 phantom stock units.

Sentiment

Score: 7

Explanation: The document reflects a routine executive compensation transaction, which is generally viewed neutrally to positively. The acquisition of phantom stock suggests confidence in the company's future.

Positives

• The acquisition of phantom stock units by a senior executive suggests confidence in the company's future performance.
• The SERP plan incentivizes executives to align their interests with those of the shareholders.

Industry Context

This filing is a routine disclosure of executive compensation and is typical for publicly traded companies. It reflects the company's use of phantom stock as part of its executive compensation strategy.

Comparison to Industry Standards

• Phantom stock grants are a common form of executive compensation in publicly traded companies, particularly for senior management.
• The use of SERPs is also a standard practice to provide retirement benefits to key executives.
• The specific number of units and valuation are specific to Ingredion and its compensation policies.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns executive interests with company performance.

Key Dates

Keywords

phantom stock, Ingredion Inc, SERP, executive compensation, Michael J. Leonard, stock acquisition, Form 4