Form 4: Minerals Technologies Inc. Director Alison Ann Deans Reports Phantom Stock Unit Acquisition

Alison Ann Deans, a director of Minerals Technologies Inc., reported the acquisition of phantom stock units under the company's Non-Funded Deferred Compensation and Unit Award Plan for Non-Employee Directors.

Summary

• On September 6, 2024, Alison Ann Deans, a director of Minerals Technologies Inc. (MTX), acquired 17.762 phantom stock units.
• 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 Deans' termination of service as a director.
• Following the transaction, Deans beneficially owns 12,785.408 phantom stock units.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating standard corporate governance practices. It's neutral to slightly positive 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 Non-Funded Deferred Compensation and Unit Award Plan for Non-Employee Directors is a common practice to attract and retain qualified board members.

Future Outlook

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

Industry Context

Granting phantom stock units to directors is a common practice in corporate governance to align their interests with shareholders and incentivize long-term value creation. This is especially prevalent in publicly traded companies.

Comparison to Industry Standards

• Many companies, such as Ecolab and Sherwin-Williams, use deferred compensation plans including stock units for non-employee directors.
• The number of units granted and the terms of the plan are generally comparable to industry standards for companies of similar size and market capitalization.

Stakeholder Impact

• The acquisition of phantom stock units by a director can positively influence shareholder confidence by aligning the director's interests with the company's long-term success.

Key Dates