Form 4: Carolyn K. Pittman Reports Changes in Beneficial Ownership of Minerals Technologies Inc. Stock

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

Summary

• Carolyn K. Pittman, a director of Minerals Technologies Inc. [MTX], filed a Form 4 to report changes in beneficial ownership.
• The transaction occurred on May 15, 2024.
• Pittman acquired 1,541.687 phantom stock units under the Minerals Technologies Inc. Non-Funded Deferred Compensation and Unit Award Plan for Non-Employee Directors.
• These units are the economic equivalent of common stock shares and will be settled in cash upon termination of service as a director.
• Following the reported transaction, Pittman beneficially owns 15,272.998 derivative securities.

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.
• Deferred compensation plans can be tax-efficient for both the company and the director.

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.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding director compensation and ownership.

Key Dates