Form 4: Minerals Technologies Inc. Director John J. Carmola Reports Acquisition of Phantom Stock Units
SEC Form 4 Filing
Director John J. Carmola reports acquiring phantom stock units in Minerals Technologies Inc. through a non-funded deferred compensation plan.
Summary
- John J. Carmola, a director of Minerals Technologies Inc. (MTX), filed a Form 4 with the SEC.
- The filing reports the acquisition of 92.359 phantom stock units on October 1, 2024.
- 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.
- The phantom stock units will be settled in cash upon Carmola's termination of service as a director.
- Following the transaction, Carmola beneficially owns 23,239.718 phantom stock units directly.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing regarding director compensation, and does not contain information that would significantly impact investor sentiment positively or negatively.
Future Outlook
The phantom stock units will be settled in cash upon the reporting person's termination of service as a director.
Industry Context
This filing is a routine disclosure related to director compensation practices, specifically the use of phantom stock units as part of a deferred compensation plan. It reflects a common method for aligning director interests with shareholder value.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders, as it relates to director compensation and does not involve immediate cash outflow from the company.
Key Dates
| Date | Description |
|---|---|
| 10/01/2024 | Date of transaction: Acquisition of phantom stock units. |
| 10/02/2024 | Date of signature on the Form 4 filing. |
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