Form 4: Minerals Technologies Inc. Director Carolyn K. Pittman Reports Acquisition of Phantom Stock Units

Director Carolyn K. Pittman reports acquiring phantom stock units in Minerals Technologies Inc. under a deferred compensation plan.

Summary

• On April 1, 2025, Carolyn K. Pittman, a director of Minerals Technologies Inc., acquired phantom stock units.
• The transaction involved the accrual of 78.213 phantom stock units under the company's Non-Funded Deferred Compensation and Unit Award Plan for Non-Employee Directors.
• These units are the economic equivalent of common stock shares and will be settled in cash upon termination of service as a director.
• Following the reported transaction, Pittman directly owns 15,687.993 phantom stock units.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally. The use of phantom stock units suggests a long-term alignment of interests, which is mildly positive.

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 positive incentive for 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 practice among publicly traded companies to incentivize and retain non-employee directors.
• The specifics of the Minerals Technologies Inc. plan (Non-Funded Deferred Compensation and Unit Award Plan for Non-Employee Directors) would need to be compared to similar plans at peer companies to assess its competitiveness and attractiveness.

Stakeholder Impact

• Shareholders are informed about changes in ownership by a company director.
• The deferred compensation plan impacts the director's financial stake in the company's performance.

Key Dates

Keywords

phantom stock units, director, Minerals Technologies Inc., deferred compensation, MTX, beneficial ownership, Form 4