Form 4: Carolyn K. Pittman Reports Acquisition of Phantom Stock Units in Minerals Technologies Inc.

Director Carolyn K. Pittman reports acquisition of phantom stock units in Minerals Technologies Inc. under a deferred compensation plan.

Summary

• Carolyn K. Pittman, a director of Minerals Technologies Inc. [MTX], reported a transaction on April 1, 2024.
• Pittman acquired phantom stock units under the Minerals Technologies Inc. Non-Funded Deferred Compensation and Unit Award Plan for Non-Employee Directors.
• The transaction resulted in the acquisition of 98.75 phantom stock units.
• These units are the economic equivalent of one share of Minerals Technologies Inc. Common Stock each.
• The phantom stock units are to be settled in cash upon the reporting person's termination of service as a director.
• Following the reported transaction, Pittman beneficially owns 13,731.311 phantom stock units.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating a neutral to slightly positive sentiment as it aligns director interests with company performance.

Positives

• The acquisition of phantom stock units aligns the director's interests with the long-term performance of the company.
• The deferred compensation plan can be seen as a positive incentive for non-employee directors.

Future Outlook

The phantom stock units will be settled in cash upon the reporting person's termination of service as a director.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Key Dates