Form 4: Minerals Technologies Inc. Director Acquires Phantom Stock Units

Carolyn K. Pittman, a director at Minerals Technologies Inc., acquired 21,254 phantom stock units on December 5, 2024, under the company's deferred compensation plan.

Summary

• Carolyn K. Pittman, a director of Minerals Technologies Inc., acquired 21,254 phantom stock units on December 5, 2024.
• These phantom stock units were accrued under the company's 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.
• The units will be settled in cash upon Ms. Pittman's termination of service as a director.
• Following this transaction, Ms. Pittman directly owns 15,519.478 phantom stock units.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to slightly positive as it aligns interests. There are no indications of negative sentiment.

Positives

• The acquisition of phantom stock units aligns the director's interests with the company's performance.
• The deferred compensation plan is a common practice for retaining and incentivizing non-employee directors.

Future Outlook

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

Industry Context

This type of transaction is common for directors of publicly traded companies as part of their compensation packages.

Comparison to Industry Standards

• Deferred compensation plans using phantom stock units are a common practice among publicly traded companies to align director interests with shareholder value.
• Many companies in the materials and manufacturing sector, such as International Paper and WestRock, use similar compensation structures for their non-employee directors.
• The number of units granted is within the typical range for director compensation packages, though specific amounts vary based on company size and performance.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with company performance.

Key Dates

Keywords

phantom stock units, director, deferred compensation, Minerals Technologies Inc., MTX, equity, insider trading