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 June 13, 2024, Alison Ann Deans, a director of Minerals Technologies Inc. (MTX), acquired 15.318 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 the economic equivalent of one share of Minerals Technologies Inc. Common Stock.
• The phantom stock units are to be settled in cash upon Deans' termination of service as a director.
• Following the reported transaction, Deans beneficially owns 12,767.646 phantom stock units.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing related to director compensation. It doesn't contain information that would significantly impact investor sentiment positively or negatively.

Positives

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders.
• The Non-Funded Deferred Compensation and Unit Award Plan for Non-Employee Directors is a common practice to attract and retain qualified 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

Granting phantom stock units to non-employee directors is a common practice in corporate governance to align their interests with those of shareholders and incentivize long-term value creation.

Comparison to Industry Standards

• Many companies, such as Ecolab, use similar deferred compensation plans for their non-employee directors.
• These plans often involve granting stock options, restricted stock units, or phantom stock units that vest over time or upon retirement.
• The specific terms and conditions of these plans vary depending on the company's size, industry, and compensation philosophy.

Stakeholder Impact

• The acquisition of phantom stock units by a director aligns their interests with those of the shareholders, potentially encouraging decisions that increase shareholder value.

Key Dates