Form 4: Minerals Technologies Inc. Director Breunig Reports Acquisition of Phantom Stock Units

Director Joseph C. Breunig reports acquiring phantom stock units in Minerals Technologies Inc. under a deferred compensation plan.

Summary

• On June 13, 2024, Joseph C. Breunig, a director of Minerals Technologies Inc. (MTX), acquired 20.278 phantom stock units.
• These 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 Breunig's termination of service as a director.
• Following the transaction, Breunig directly owns 16,901.622 derivative securities.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating a neutral to slightly positive sentiment due to 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 can be seen as a way to retain 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

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Comparison to Industry Standards

• Deferred compensation plans using phantom stock units are a common method for compensating and retaining non-employee directors across various industries.
• The specifics of the plan, such as vesting schedules and settlement terms, can vary significantly between companies.

Stakeholder Impact

• Shareholders are informed about changes in beneficial ownership by a company director.
• The deferred compensation plan may incentivize the director to act in the best interests of the company and its shareholders.

Key Dates