Form 4: Ingredion Inc. Executive 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

• Michael J. Leonard, a senior executive at Ingredion Inc., filed a Form 4 with the SEC.
• The filing reports the acquisition of 23.762 phantom stock units on May 15, 2025, 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.
• Following the transaction, Leonard directly owns 164.801 derivative securities.
• The price of the derivative security is $138.89.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing related to executive compensation. It doesn't contain any information that would significantly impact investor sentiment positively or negatively.

Positives

• The acquisition of phantom stock aligns the executive's interests with those of the shareholders.
• The SERP plan is designed to retain and incentivize key executives.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Phantom stock is a common form of executive compensation used to align management's interests with shareholder value.

Comparison to Industry Standards

• Executive compensation packages, including phantom stock, are common in publicly traded companies like Ingredion.
• Companies such as Archer Daniels Midland (ADM) and Bunge (BG) also utilize similar compensation strategies to incentivize their executives.
• The specific amount and terms of phantom stock grants vary based on company size, performance, and industry benchmarks.

Stakeholder Impact

• The acquisition of phantom stock by a senior executive could have a minor positive impact on shareholder confidence, as it aligns management's interests with the company's performance.

Key Dates

Keywords

Form 4, Ingredion, Phantom Stock, SERP, Executive Compensation, Michael J. Leonard, Beneficial Ownership