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

Michael J. Leonard, SVP, CIO & Head of Prot. Fort. of Ingredion Inc., reports acquisition of phantom stock units under the company's SERP plan.

Summary

• On February 28, 2025, Michael J. Leonard, SVP, CIO & Head of Prot. Fort. of Ingredion Inc., acquired 12.193 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 price of the common stock on February 28, 2025, was $130.61.
• Following the transaction, Leonard directly owns 45.594 units of phantom stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the document simply reports a routine transaction related to executive compensation. It doesn't indicate any positive or negative outlook for the company.

Positives

• The acquisition of phantom stock aligns the executive's interests with those of the shareholders.
• The SERP is a common executive compensation tool.

Industry Context

Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track executive compensation and potential alignment with shareholder interests.

Comparison to Industry Standards

• Phantom stock plans are a common form of deferred compensation used by publicly traded companies like Ingredion to attract and retain key executives.
• Companies such as Archer Daniels Midland (ADM) and Bunge (BG) also utilize similar compensation strategies to align executive incentives with long-term shareholder value.

Stakeholder Impact

• The acquisition of phantom stock aligns the executive's interests with those of the shareholders, potentially encouraging decisions that benefit the company's long-term performance.

Key Dates