Form 4: Franklin Feder Reports Acquisition of Phantom Stock Units in Minerals Technologies Inc.

Director Franklin Feder reports acquiring phantom stock units in Minerals Technologies Inc. under a deferred compensation plan.

Summary

• Franklin Feder, a director of Minerals Technologies Inc. (MTX), reported acquiring 22.773 phantom stock units on June 13, 2024.
• These units were accrued under the Minerals Technologies Inc. Non-Funded Deferred Compensation and Unit Award Plan for Non-Employee Directors.
• Each phantom stock unit is equivalent to one share of Minerals Technologies Inc. common stock and will be settled in cash upon termination of service as a director.
• Following the transaction, Feder directly owns 18,981.021 phantom stock units.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating a stable and well-managed company. The use of phantom stock units suggests a focus on long-term alignment of interests.

Positives

• The acquisition of phantom stock units aligns the director's interests with the long-term performance of the company.
• The deferred compensation plan is a common practice to attract and retain qualified 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

Deferred compensation plans using phantom stock units are a common practice in corporate governance to align the interests of non-employee directors with those of shareholders. This encourages directors to focus on long-term value creation.

Comparison to Industry Standards

• Many companies, including those in the materials and technology sectors, use deferred compensation plans with phantom stock units for their non-employee directors.
• These plans are designed to provide a long-term incentive and align the directors' interests with the company's performance over time.
• The specific terms of these plans, such as vesting schedules and settlement methods, can vary widely across companies.

Stakeholder Impact

• The acquisition of phantom stock units by a director can positively influence shareholder confidence by demonstrating alignment of interests.
• The deferred compensation plan can help retain experienced directors, benefiting the company's governance and strategic direction.

Key Dates