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

Director Joseph C. Breunig acquired 23,211 phantom stock units of Minerals Technologies Inc. on December 5, 2024, under the company's deferred compensation plan.

Summary

• Joseph C. Breunig, a director at Minerals Technologies Inc., acquired 23,211 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 Mr. Breunig's termination of service as a director.
• Following this transaction, Mr. Breunig directly owns 16,948.347 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 director interests with the company's performance.

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

The use of phantom stock units as part of director compensation is a common practice in publicly traded companies to align director interests with shareholder value.

Comparison to Industry Standards

• Many companies, such as those in the S&P 500, use similar deferred compensation plans for non-employee directors.
• These plans often include phantom stock units or restricted stock units that vest over time or upon certain events, such as retirement.
• The specific terms of these plans can vary, but the general purpose is to incentivize directors to act in the best interests of the company and its shareholders.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with the company's long-term performance.

Key Dates

Keywords

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